Residential Property - Single Family Residence in Palmetto
Listing Price: $875,000 (Mortgage Calculator →)
Description of Property
Discover a truly one-of-a-kind coastal retreat in the desirable Gull Cay subdivision of Palmetto, FL! This exceptional multi-level property offers endless possibilities for multigenerational living, short- or long-term rentals, or a conforming 4-plex investment. As you arrive, a secure gate and circular drive welcome you, surrounded by lush natural beauty and offering ample open parking. There’s generous space to park your boat, multiple cars, and even an RV—with a full hook-up including 50-amp electrical service—making it perfect for coastal living enthusiasts. A double staircase with durable Trex composite decking leads to the elevated first level of the home, setting the tone for the character found throughout. The lower-level features two separate units—one a 1-bedroom, 1-bath studio and the other a 1-bedroom, 1-bath with a full kitchen—ideal for guests, extended family, or income-producing opportunities. The main floor offers 3 spacious bedrooms, 2 bathrooms, a kitchen with refrigerator and stove, washer and dryer, abundant storage closets, and a versatile bonus room. Upstairs, the second level features a beautifully updated kitchen with refrigerator, stove, microwave, dishwasher, and new quartz countertops, along with a dining room, living room, 2 bedrooms, and a full bath. Outdoor living shines here—relax on the screened-in patio deck or take in breathtaking panoramic views of the bayou, Terra Ceia Bay, and peaceful mangroves from the rooftop deck, where you can enjoy unforgettable Florida sunsets. With 7 bedrooms, 5 bathrooms, and 3,435 sq. ft. of living space, this remodeled property blends flexibility, comfort, and opportunity. Additional features include a new HVAC system (2024), corrugated metal roof (2005), and Bahama hurricane shutters. Ideally located near pristine Gulf beaches, marinas, waterfront dining, and with easy access to I-275 and I-75, this is a must-see property for those seeking a remarkable investment or a serene coastal lifestyle in beautiful Palmetto.
Property Details At A Glance
Property Type: Residential
Property Use or Sub Type: Single Family Residence
City: Palmetto
County: Manatee
Subdivision: Gull Cay
Bedrooms: 7
Bathrooms: 5
Sq. Ft. Gross: 4,656
Sq. Ft. Living Area: 3,435
Cost per (heated) sqare foot: $255
Year built: 1979
Annual Tax: $7,790
Taxes and fees can change periodically, and other fees may apply. Please check with your Suncoasteam agent for more details.
Appliances: Washer
Window Features: Blinds
Additional Rooms: Storage Rooms
Flooring: Laminate
Schools
Elementary School: Palm View Elementary
Middle/Junior High School: Lincoln Middle
High School: Palmetto High
Pool & Waterfront Info
Private Pool: Not specified
Water Name: PETERSON BAYOU, TERRA CEIA BAY
Exterior & Construction
Architectural Style: Key West
Construction: Wood Frame
Foundation: Slab
Roof: Metal
Exterior Features: Rain Gutters
Floors in Unit: Two
Cooling: Wall/Window Unit(s)
Heating & Fuel: Wall Units / Window Unit
Electric:
Patio & Porch Features: Screened
Security Features: Security System
Other Structures:
View: Water
Fencing:
Sewer: Public Sewer
Water Source: Public
Community Features: None
Lot Information
Lot Features: Oversized Lot
Lot Size (acres): 0.7
Lot Size (sq. ft.): 30,448 square feet
Front Exposure: East
Legal Description & Other Information
Financing Available: VA Loan
Parcel Number: 2380400255
Zoning: RDD4.5
Tax Legal Desc.: LOT 4 GULL CAY SUB PI#23804.0025/5
Section: 2
Range: 17
Listing courtesy of PREFERRED SHORE LLC. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.