Coastal, Elevated, Key West

707 40TH STREET W

PALMETTO , FL 34221

MLS#: A4671780

$875,000

Status: Active

Listing number: A4671780

Listing provided by: PREFERRED SHORE LLC

Listing agent phone: None

Last update: a day ago

New on site 4 days ago

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Property

Beds

Full Baths

1/2 Baths

None

Year Built

1979

Sq.Footage

3,435

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.

Features & Amenities

Interior

Other Interior Features

Built-in Features, Open Floorplan, Walk-In Closet(s)
Total Bedrooms

7
Bathrooms

5
Basement YN

YES
Cooling YN

YES
Cooling

Central Air, Wall/Window Unit(s)
Fireplace YN

NO
Heating YN

YES
Heating

Central, Electric, Heat Pump, Ductless
Pet friendly

N/A

Exterior

Garage

No
Construction Materials

HardiPlank Type, Stucco, Frame
Other Exterior Features

Lighting, Other, Rain Gutters
Patio and Porch Features

Covered, Enclosed, Front Porch, Patio, Rear Porch, Screened
Pool

No
Waterfront YN

NO
View

Water

Area & Lot

Lot Size(acres)

0.7
Property Type

Residential
Property Sub Type

Single Family Residence
Architectural Style

Coastal, Elevated, Key West

Price

Sales Price

$875,000
Tax Amount

7789.69
Sq. Footage

3, 435
Price/SqFt

$254

HOA

Association

No

School District

Elementary School

Palm View Elementary
Middle School

Lincoln Middle
High School

Palmetto High

Property Features

Foundation Details

Block, Slab
Ownership

Fee Simple
Senior Community YN

NO
Sewer

Public Sewer
Tax Lot

4
Water Source

Public

Schedule a Showing

Showing scheduled successfully.

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Location

County

Manatee

Elementary School

Palm View Elementary

Middle School

Lincoln Middle

High School

Palmetto High

Listing Courtesy of Lorena Marquez , PREFERRED SHORE LLC

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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.

707 40TH STREET W

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4,816 Sq.Ft.

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#A4667535

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2,173 Sq.Ft.

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MLS#: A4667535

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2006 5TH STREET E

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3 Baths

2,789 Sq.Ft.

$805,000

MLS#: A4667329

Coastal, Elevated, Key West

Features & Amenities

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Exterior

Area & Lot

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HOA

School District

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Listing Courtesy of Lorena Marquez , PREFERRED SHORE LLC

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