707 40TH STREET W, Palmetto, FL 34221

• 7 beds |
• 5 baths |
• 3,435 sqft

Property Description

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.

Listing Status:

Active

Date Added:

November 11, 2025 at 06:00AM

Listing Office:

PREFERRED SHORE LLC : 941-999-1179

Listing Agent:

Lorena Marquez : 941-933-0133

MLS ID:

A4671780

Interior

• General: Built-in FeaturesCeiling Fans(s)Open FloorplanPrimary Bedroom Main FloorWalk-In Closet(s)
• Rooms: Storage Rooms
• Appliances: DishwasherDisposalDryerElectric Water HeaterMicrowaveRangeRefrigeratorWasher
• Laundry: Inside
• Basement: Unfinished
• Flooring: BambooCeramic TileLaminate
• A/C: Central AirWall/Window Unit(s)
• Heating: CentralElectricHeat PumpDuctless

Exterior

• General: LightingOtherRain Gutters
• Style: CoastalElevatedKey West
• Other Structures: EnclosedFront PorchRear PorchScreenedPatioCovered

Construction

• Roofing: Metal
• Windows: Blinds
• General: HardiPlank TypeStuccoFrameTwoBlockSlab

Location

• Road/Access: GravelOther
• Originating MLS: Stellar MLS
• County: Manatee

Lot

• Zoning: RDD4.5LOT 4 GULL CAY SUB PI#23804.0025/52380400255
• View: Water

Utilities

• Utilities: Cable AvailablePublicSewer ConnectedWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: Stellar MLS
• Ownership: Fee Simple

This listing courtesy of Lorena Marquez, PREFERRED SHORE LLC