$3,050,000
SOLD FEB 7, 2025

2901 SW Lake Terrace Palm City, FL 34990

7 Beds
7.5 Baths
5,476 Sq Ft
10.93 Acres

Recently Sold

$557 Per Sq Ft

22% Below List Price

243 Days on Market

Highlights

  • Property has ocean access
  • Home fronts navigable water
  • RV Access or Parking
  • Bessey Creek Elementary School Rated A-
  • Free Form Pool
  • 476,259 Sq Ft lot

About This Home

As of February 2025

10.34 acre waterfront property offering ultimate privacy. A Legacy Estate featuring two CBS poured concrete structures consisting of a 5 BD / 4.5 BA Main house (Two Primary Suites - main level and upstairs) and a 2 BD / 2.5 BA Guest House over a 4 Car Garage. No fixed bridges and dockage for up to an approximately 50 ft +/- boat. Impact windows and doors, raised property elevation, metal roof, solid core interior doors, 10 ft & 22ft volume ceilings, and quality finishes throughout.

Last Agent to Sell the Property

Charlie Forcucci

Douglas Elliman (Jupiter) License #3014917

Douglas Elliman (Jupiter)

Last Buyer's Agent

Elise Danielian

Lang Realty License #3212537

Lang Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $11,183

Year Built

  • Built in 2001

Lot Details

  • 10.93 Acre Lot
  • Home fronts navigable water
  • Property is zoned R-1A

Parking

  • 4 Car Attached Garage
  • Garage Door Opener
  • Circular Driveway
  • Open Parking
  • RV Access or Parking

Home Design

  • Metal Roof

Interior Spaces

  • 5,476 Sq Ft Home
  • 2-Story Property
  • Wet Bar
  • Furnished or left unfurnished upon request
  • Built-In Features
  • Bar
  • High Ceiling
  • Ceiling Fan
  • Decorative Fireplace
  • Entrance Foyer
  • Great Room
  • Family Room
  • Formal Dining Room
  • Loft
  • Screened Porch
  • Canal Views

Kitchen

  • Gas Range
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 7 Bedrooms
  • Split Bedroom Floorplan
  • Walk-In Closet
  • In-Law or Guest Suite
  • Dual Sinks
  • Separate Shower in Primary Bathroom

Laundry

  • Dryer
  • Washer

Home Security

  • Security Gate
  • Impact Glass

Pool

  • Free Form Pool
  • Gunite Pool

Outdoor Features

  • Property has ocean access
  • No Fixed Bridges
  • Balcony
  • Deck
  • Open Patio

Schools

  • Bessey Creek Elementary School
  • Martin County High School

Utilities

  • Central Heating and Cooling System
  • Well
  • Septic Tank
  • Cable TV Available

Community Details

  • M & W Land Minor Plat 1 Subdivision

Listing and Financial Details

  • Assessor Parcel Number 013840006000000204

Home Details

Home Type

Single Family

Est. Annual Taxes

$11,183

Year Built

Built in 2001

Lot Details

0

Parking

4

Listing Details

  • Prop. Type: Residential
  • Property Sub Type: Single Family Residence
  • Property Sub Type Additional: Single Family Residence
  • Directions: High Meadows Ave or Murphy Road to Roundabout, North on Covered Bridge Dr to property
  • Year Built: 2001
  • Year Built Details: Resale
  • Special Features: VirtualTour

Interior Features

  • Interior Amenities: Wet Bar, Built-in Features, Dining Area, Separate/Formal Dining Room, Dual Sinks, Entrance Foyer, Fireplace, High Ceilings, Kitchen/Dining Combo, Pantry, Split Bedrooms, Separate Shower, Bar, Walk-In Closet(s), Loft
  • Furnished: Negotiable
  • Appliances: Dryer, Dishwasher, Disposal, Gas Range, Refrigerator, Washer
  • Full Bathrooms: 7
  • Half Bathrooms: 1
  • Total Bedrooms: 7
  • Fireplace Features: Decorative
  • Fireplace: Yes
  • Flooring: Carpet, Hardwood, Other, Wood
  • Living Area: 5476.0
  • Dining Room Type: Family Room, Great Room, In-Law Suite, Loft, Storage Room
  • Stories: 2
  • Window Features: Impact Glass

Exterior Features

  • Exterior Features: Balcony, Deck, Enclosed Porch, Patio
  • View: Canal
  • Pool Features: Free Form, Gunite, Other, Pool
  • Pool Private: Yes
  • View: Yes
  • Waterfront Features: Navigable Water, No Fixed Bridges, Ocean Access
  • Waterfront: Yes
  • Construction Type: Block, Other
  • Patio And Porch Features: Balcony, Deck, Open, Patio, Porch, Screened
  • Property Condition: Resale
  • Roof: Metal

Garage/Parking

  • Covered Parking Spaces: 4.0
  • Attached Garage: Yes
  • Garage Spaces: 4.0
  • Garage Yn: Yes
  • Open Parking: Yes
  • Parking Features: Attached, Circular Driveway, Driveway, Garage, Open, RV Access/Parking, Two or More Spaces, Garage Door Opener

Utilities

  • Security: Security Gate
  • Cooling: Central Air, Ceiling Fan(s), Electric
  • Cooling Y N: Yes
  • Heating: Central, Electric
  • Heating Yn: Yes
  • Sewer: Septic Tank
  • Utilities: Cable Available, Electricity Available, Natural Gas Available
  • Water Source: Well

Condo/Co-op/Association

  • Community Features: Non-Gated
  • Senior Community: No
  • Amenities: Other
  • Pets Allowed: Yes

Schools

  • Elementary School: Bessey Creek
  • High School: Martin County

Lot Info

  • Parcel #: 013840006000000204
  • Lot Size: 10 to <25 Acres
  • Lot Size Sq Ft: 476259.0
  • Zoning Description: R-1A
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 11183.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/07/2025 02/07/25 Sold $3,050,000 -11.6% $557 / Sq Ft
12/13/2024 12/13/24 Price Changed $3,450,000 -1.4% $630 / Sq Ft
09/16/2024 09/16/24 Price Changed $3,500,000 -10.3% $639 / Sq Ft
06/08/2024 06/08/24 For Sale $3,900,000 -- $712 / Sq Ft
Source: BeachesMLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $11,183 $706,157 -- --
2023 $11,183 $685,590 $0 $0
2022 $10,800 $665,622 $0 $0
2021 $10,867 $646,235 $0 $0
2020 $10,727 $637,313 $0 $0
2019 $10,607 $622,985 $0 $0
2018 $10,344 $611,368 $0 $0
2017 $9,431 $598,793 $0 $0
2016 $9,596 $586,478 $0 $0
2015 -- $582,400 $0 $0
2014 -- $577,778 $0 $0
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $2,745,000 New Conventional
Previous Owner $730,000 Unknown
Previous Owner $390,000 Credit Line Revolving
Previous Owner $250,000 Credit Line Revolving
Previous Owner $750,000 Unknown
Source: Public Records

Deed History

Date Type Sale Price Title Company
Warranty Deed $3,050,000 None Listed On Document
Interfamily Deed Transfer -- Attorney
Warranty Deed -- --
Source: Public Records

Source: BeachesMLS

MLS Number: R10994601

BeachesMLS

APN: 01-38-40-006-000-00020-4

Florida Martin County Palm City 34990

2901 SW Lake Terrace, Palm City, FL

Homes for Sale in Palm City, FL

This home is located at 2901 SW Lake Terrace, Palm City, FL 34990 and is currently priced at $3,050,000, approximately $556 per square foot. This property was built in 2001. 2901 SW Lake Terrace is a home located in Martin County with nearby schools including Bessey Creek Elementary School, Hidden Oaks Middle School, and Martin County High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

BeachesMLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.