2116 Palm Terrace

Sarasota, FL 34231

$559,000
Price
Beds
1,159 Sq. Ft.
$482 / Sq. Ft.
1,159
Sq. Ft.
$482
per Sq. Ft.

Description

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...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!
  1. Listed by Melissa Godio • SHOWTIME REALTY

Property Details for 2116 Palm Terrace

Subdivision Name
HARBOR OAKS
Township
37
View
Garden, Trees/Woods
Waterfront
No
Furnished
Unfurnished
LISTING UPDATED: 10/31/2024 06:17 PM

Property Details for 2116 Palm Terrace

StatusActive
MLS #A4623939
Days on Market47
Taxes$1,057 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built1950
Lot Size0.23 AC / 9,864 SF
CountySarasota County

Building Information for 2116 Palm Terrace

Stories-Residences2Year Built1950Building Size-Lot Size0.23 AC / 9,864 SF

Property Information for 2116 Palm Terrace

Summary
Location and General Information
  • Building Area Source: Public Records
  • Building Area Total: 1159.0
  • Building Area Units: Square Feet
  • Directions: Continue onto US-41 N/S Tamiami Trail Turn right onto Palm Terrace
  • Elementary School: Phillippi Shores Elementary
  • Middle Or Junior School: Brookside Middle
  • High School: Riverview High
  • Mls Major Change Type: Price Decrease
  • Listing Service: Full Service
  • Senior Community: No
  • SW Subdiv Community Name: Harbor Oaks
  • Unit Number: No
  • Street Number: 2116
  • Street Name: PALM
  • Street Suffix: TERRACE
  • State: FL
  • City: SARASOTA
Parking
  • Available For Lease: Yes
  • Carport: No
  • Garage: No
  • Parking Features: Driveway, Ground Level, Off Street, Oversized, Parking Pad
Taxes and HOA Information
  • Association: No
  • CDD: No
  • Tax Block: B
  • Tax Book Number: 2-44
  • Tax Legal Description: LOT 11 BLK B HARBOR OAKS
  • Tax Lot: 11
  • Tax Year: 2023
Virtual Tour
Property
Lot Information
  • Additional Parcels: No
  • Lot Features: Cul-De-Sac, Landscaped, Level/Flat, Street Dead-End, Street Paved
  • Parcel Number: 0075040038
  • Total Acreage: 0 to less than 1/4
  • Total Num Buildings: 1
  • Water Access: No
  • Water Extras: No
  • Zoning: RSF3
  • Living Area: 1159
Property and Assessments
  • Year Built Numeric: 1950
  • Flood Zone Code: X
  • Flood Zone Date: 03-27-2024
  • Flood Zone Panel: 12115C0142G
  • Homestead: Yes
  • New Construction: No
  • Property Attached: No
  • Property Condition: Completed
  • Public Survey Range: 18
  • Public Survey Section: 05
  • Dock YN: No
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Water Source: Public
  • Num Electric Meters: 2.0
  • Num Water Meters: 2.0
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding, Wood Frame
  • Exterior Features: Fenced, Garden, Lighting, Private Mailbox, Rain Gutters, Storage
  • Foundation Details: Crawlspace
  • Levels: One
  • Other Structures: Shed(s), Storage
  • Patio And Porch Features: Deck, Patio
  • Pool Private: No
  • Pool: None
  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Waterfront Feet Total: 0
Interior Features
  • Bedrooms Total: 0
  • Appliances: Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Freezer, Ice Maker, Range, Range Hood, Refrigerator, Washer
  • Cooling: Central Air
  • Fireplace: No
  • Flooring: Carpet, Laminate, Porcelain Tile, Tile, Wood
  • Heating: Central
  • Interior Features: Ceiling Fans(s), L Dining, Primary Bedroom Main Floor, Thermostat
  • Laundry Features: Laundry Closet
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Water View: No
Multi Family
Multi-Family Information
  • Annual Net Income: $48,000.00
  • Unit Count: 2
Unit 1
  • Unit Type Baths Total 1: 1
  • Unit Type Beds Total 1: 2
  • Unit Type Heated Sq Ft 1: 810
  • Unit Type Pro Forma 1: 2600
  • Unit Type Type 1: 2 Bed/1 Bath
Unit 2
  • Unit Type Baths Total 2: 1
  • Unit Type Beds Total 2: 1
  • Unit Type Heated Sq Ft 2: 350
  • Unit Type Pro Forma 2: 1350
  • Unit Type Type 2: 1 Bed/1 Bath

Property History for 2116 Palm Terrace

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2116 Palm Terrace

Taxable ValueLand-Additions-Total-
Tax Record2023$1,057 ($88 / month)
Home Facts
Baths2Total Finished SqFt1,159 SqFtAbove Grade Finished SqFt1,159 SqFtStories1Lot Size9,864 SqFtStyleDuplexYear Built1950Year Renovated1995ZoningRSF3CountySARASOTAAPN0075-04-0038

Schools near 2116 Palm Terrace

This home is within Sarasota.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Phillippi Shores Elementary School
PublicPK to 5

Brookside Middle School
Public6 to 8

Riverview High School
Public9 to 12

Sarasota Virtual School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2116 Palm Terrace is a multi-family home for sale in Sarasota, FL 34231. This property was listed for sale on September 20, 2024 by SHOWTIME REALTY, it's currently listed at $559,000. This listing's school district is Sarasota. Nearby schools include Phillippi Shores Elementary School, Brookside Middle School and Riverview High School. 2116 Palm Terrace is a 0-bed, 0-bath, 1,159 sqft multi-family home built in 1950.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of SHOWTIME REALTY, Melissa Godio

The information is being provided in part by Southwest Florida Multiple Listing Service, Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2, and MarcoMls. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 Southwest Florida Multiple Listing Service and MarcoMls. All Rights Reserved. The data relating to real estate for sale displayed on this website comes in part from the Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2 and MarcoMls. Properties listed with brokerage firms other than Compass are marked with the "BR House" logo. Detailed information about such properties includes the name of the brokerage firm with which the seller has listed the property. The properties displayed may not be all the properties listed with brokerage firms participating in the Naples MLS BR Program, or contained in the database compilation of Naples MLS.