Blue Realty

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: 5 days ago
On site: 16 days ago
Browse Properties
GULL CAY - Residential

Property

Beds

7

Full Baths

5

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

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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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