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2116 Palm Terrace

SARASOTA, FL 34231

– beds
– baths
1,159 sqft
9,864 sqft lot
$482 per sqft
1950 build
– on site

*Price Improvement, Seller Motivated!* This home remained unaffected by recent storms, with all surrounding debris promptly removed. The exterior and decks have been professionally power washed, ensuring a clean, fresh look that’s ready for new owners to enjoy! Discover an exceptional multi-family duplex located in the heart of Sarasota, with a recent sale of a multifamily home on the same street, this property is attractively priced for the neighborhood, offering a unique opportunity to invest in a highly desirable area with proven market interest. This property is ideally situated on a peaceful two-lane cul-de-sac, featuring beautiful county maintained treed green space, making it perfect for both multi-family living and as a family home with a separate private entrance mother-in-law apartment. This duplex boasts numerous features including central air and heat, a new roof installed in 2021, PVC plumbing, and separate electric meters with upgraded panels. This property presents a remarkable investment opportunity with cap rate that is expected to improve in this high-demand rental neighborhood. The duplex features two distinct units. Unit 1 is a spacious 2 bedroom, showcasing natural red oak floors, Hunter Douglas Cellular Tech shades, and an updated bath complete with floor-to-ceiling porcelain tile, an Italian hand-painted pedestal sink, matching bidet, and a luxurious jetted tub. A discreet laundry closet is conveniently located opposite the bath. The designer chef’s kitchen features high-end stainless steel appliances, butcher block counters, and dramatic porcelain flooring, complemented by an adjacent pantry for added efficiency. Unit 2, a cozy 1 bedroom, feels larger due to its open design and large windows offering lush tropical views. This unit includes a separate driveway and private gated entry, along with a secluded outdoor patio. It features laminate flooring in the main room, floor-to-ceiling ceramic tile in the bath, and high-quality carpet in the bedroom, complete with an jetted tub. The utility lines are all underground, eliminating any overhead wire! Upgraded windows enhance both efficiency and aesthetics. The meticulously landscaped grounds are adorned with mature trees that provide luxurious shade and complete privacy thanks to the fenced yard. Additional outdoor amenities include photovoltaic lighting and separate driveways for generous off-street parking, along with a permitted 100 sq. ft. workshop/storage building with electric. Don’t miss this incredible opportunity to own a beautifully maintained multi-family property in a thriving neighborhood—schedule a showing today!

Listing courtesy of STELLAR_MLS / SHOWTIME REALTY

Last checked: Checking… • Last updated Oct 31, 2024 •

MLS# A4623939 —

The Building

Year Built:

1950
New Construction:

false
Construction Materials:

Vinyl Siding
Levels:

One
Roof:

Shingle
Foundation Details:

Crawlspace
Patio And Porch Features:

Deck
# of Buildings:

1
Building Area Total:

1159
Building Area Units:

Square Feet
Building Area Source:

Public Records

Interior

Interior Features:

Ceiling Fan(s)
Furnished:

Unfurnished
Flooring:

Carpet
Fireplace:

false

Room Dimensions

Living Area:

1159
Living Area Units:

Square Feet
Living Area Source:

Public Records

Location

Directions:

Continue onto US-41 N/S Tamiami Trail Turn right onto Palm Terrace
Latitude:

27.290787
Longitude:

-82.527921
Coordinates:

-82.527921, 27.290787

The Property

Parcel Number:

0075040038
Property Type:

Residential Income
Property Subtype:

Duplex
Property Condition:

Completed
Property Attached:

false
Lot Features:

Cul-De-Sac
Lot Size Acres:

0.23
Lot Size Area:

9864
Lot Size SqFt:

9864
Lot Size Units:

Square Feet
Total Acres:

0 to less than 1/4
Zoning:

RSF3
View:

Garden
View:

true
Exterior Features:

Fenced
Water Source:

Public
Road Responsibility:

Public Maintained Road
Road Surface Type:

Paved
Road Frontage Type:

Street Dead-End
Flood Zone Code:

X
Flood Zone Panel:

12115C0142G
Additional Parcels:

false
Homestead:

true
Land Lease:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Lot:

11
Tax Block:

B
Tax Legal Description:

LOT 11 BLK B HARBOR OAKS
Tax Book Number:

2-44
Tax Annual Amount:

1057

The Listing

Virtual Tour URL Unbranded:

https://www.propertypanorama.com/instaview/stellar/A4623939
Special Listing Conditions:

None

Heating & Cooling

Heating:

Central
Heating:

true
Cooling:

Central Air
Cooling:

true

Utilities

Utilities:

Electricity Available
Sewer:

Public Sewer

Appliances

Appliances:

Dishwasher
Laundry Features:

Laundry Closet

Schools

Elementary School:

Phillippi Shores Elementary
Middle Or Junior School:

Brookside Middle
High School:

Riverview High

The Community

Subdivision Name:

HARBOR OAKS
Senior Community:

false
Water View:

false
Water Access:

false
Waterfront:

false
Spa:

false
Pool Private:

false
Association:

false
Ownership:

Fee Simple

Parking

Garage:

false
Carport:

false
Open Parking:

true
Parking Features:

Driveway

Extra Units

Other Structures:

Shed(s)
# of Units Total:

2

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

Frontier

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
10/31/24 Oct 31, 2024	Price Changed	STELLAR_MLS	$559,000	-1.8%
10/2/24 Oct 2, 2024	Listed / Active	STELLAR_MLS	$569,000

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This multifamily located in Harbor Oaks, South Sarasota, FL 34231 is currently for sale for $559,000. 2116 Palm Terrace is a 1,159 square foot multifamily with – beds and – baths that has been on Estately for 51 days. 2116 Palm Terrace is in the Harbor Oaks neighborhood of South Sarasota and has a WalkScore® of 69, making it somewhat walkable. This multifamily is in the attendance area of Riverview High School, Phillippi Shores Elementary School, and Brookside Middle School.

Listing Courtesy of: STELLAR_MLS and SHOWTIME REALTY.

Based on information from the My Florida Regional MLS DBA Stellar MLS 2024.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Stellar MLS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Stellar MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. For any questions please call (407) 499-8911.