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2901 SW Lake Terrace, Palm City, FL 34990 (MLS# R10994601)

2901 SW Lake Terrace, Palm City, FL 34990

$3,050,000

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https://www.propertypanorama.com/2901-SW-Lake-Terrace-Palm-City-FL-34990/unbranded

Property Type: Residential Bedrooms: 7 Baths: 8 Square Footage: 7,882 Status: Closed

Current Price: $3,050,000 List Date: 6/10/2024 Last Modified: 5/10/2026

Overview

Description

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.

Listing Details MLS# R10994601

General Property Information

Property Sub Type: Single Family Residence
Bedrooms Total: 7
Bathrooms Total: 8
Bathrooms Full: 7
Bathrooms Half: Yes
Building Area Main: 7882
Building Area Source: Public Records
Living Area Main: 5476
Year Built: 2001
Garage YN: Yes
Attached Garage YN: Yes
Garage Spaces: 4
Covered Spaces: 4
Gated Community YN: No
Lot Size Area: 476259
Lot Size Acres: 10.93
Senior Community YN: No
Waterfront YN: Yes
Outdoor Living Spaces YN: Yes
Stories Total: 2
Stories: 2
Direction Faces: East
Fireplace YN: Yes
Pool Private YN: Yes
Furnished: Negotiable
Year Roof Installed: 2001

Property Features

Dining Area: Formal Dining; Kitchen Dining Electric: Three Phase Fireplace Features: Decorative Flooring: Carpet; Wood; Other Guest House Features: 2 Baths; 2 Bedrooms; Garage; Kitchen; Patio Parking Features: Circular Driveway; Garage Door Opener; Open; RV Access/Parking; Attached Garage; Garage Property Condition: Resale Appliances: Dishwasher; Disposal; Dryer; Free-Standing Freezer; Gas Range; Refrigerator; Washer Architectural Style: Other Boat and Dock Features: Electric Available; Lift; Private Dock; Water Available Construction Materials: Block; CBS; Other Cooling: Ceiling Fan(s); Central Air Heating: Central; Electric Interior Features: Bar; Bedroom Layout - Split; Built-in Features; Entrance Foyer; High Ceilings; Kitchen Island; Pantry; Storage; Upstairs Living Area; Walk-In Closet(s); Wet Bar Laundry Features: Inside; Laundry Closet Listing Terms: Cash; Conventional Other Equipment: Fuel Tank(s) Pets Allowed YN: Yes Pool Features: Free Form; Gunite; In Ground Restrictions: Other Restrictions Roof: Metal Security Features: Gated - No Guard Sewer: Septic Tank Special Information: Property Survey Available Tax Information: Homestead Exemption Utilities: Cable Available; Water Available View: Preserve Water Access: No Fixed Bridge; Ocean Access Water Source: Well Water View: Canal Waterfront Features: Navigable Water; No Fixed Bridges Window Features: Storm Window(s) Showing Requirements: 24 Hour Notice; Listing Agent Must Accompany; Schedule Online Outdoor Living Spaces: Balcony; Deck; Patio; Porch Balcony Details: Balcony - Open; Balcony - Screened Patio Details: Patio - Covered; Patio - Open Porch Details: Porch - Screened Contingencies: Financing Room Types: Family Room; Great Room; Kitchen; Laundry; Living Room; Loft; Maid/In-Law Quarters; Master Bedroom Acreage Description: 10 Or More Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 3900000

Location and Legal

Country: United States
County Or Parish: Martin
County Parish Name: Martin
Street Number: 2901
Street Direction Prefix: SW
Street Name: Lake
Street Suffix: Terrace
City Name: Palm City
State Or Province: FL
Postal Code: 34990
Postal Zip: 34990
Subdivision Name: M & W LAND MINOR PLAT 1
Area: 6090 - Palm City
Geographic Area: MRTC - Martin County
Elementary School: Bessey Creek
Middle Or Junior School: Hidden Oaks
High School: Martin County
Special Assessment YN: No
Parcel Number: 013840006000000204
Zoning: R-1A
Directions: High Meadows Ave or Murphy Road to Roundabout, North on Covered Bridge Dr to property

Financial Information

Association Deposit YN: No
Membership Fee Required YN: No
Tax Annual Amount: 11182.7
Tax Year: 2023
Tax Legal Description: M W LAND MINOR PLAT 1 LOT 2

Remarks and Miscellaneous

Public Historical Remarks: Boat Services:Private Dock Y

More Information

Status Change Information

Major Change Timestamp: 2025-02-10T15:43:00Z
Major Change Type: Status Change
Price Change Timestamp: 2024-12-13T15:37:55Z
Status Change Date: 2025-02-10
Under Contract Date: 2024-12-14
Close Date: 2025-02-07
Close Price: 3050000
Buyer Financing: Conventional

Entry Information

Entry Location: Entry Level Living Area Y

Guest House Area Details

Building Area Guest House: 1608

Short Sale Details

Short Sale Addendum: No

Boat and Dock Information

Dock: Yes
Boat Max Length: 50
Dock Details: Yes
Boat Dock Accommodates: Up to 50 Ft Boat

Capital Contributions

Capital Contributions YN: No

Main Level Rooms

Main Level Bathrooms: 2
Main Level Bedrooms: 2

Storm Protection

Impact Glass: Complete

Showing Details

Pet(s) on Premises: No

Concessions

Seller Concessions: No

Contributions

Buyer Contributions: No

Room Types

Kitchen Level: Main
Living Room Level: Main
Master Bedroom Level: Upper
Family Room: Yes
Great Room: Yes
Kitchen: Yes
Laundry: Yes
Living Room: Yes
Loft: Yes
Maid/In-Law Quarters: Yes
Master Bedroom: Yes

Price Calculations

Current Price To SqFt: 556.97
Original List Price To Close Price: 1.27

Originating Details

Originating System Key: 20240608170935274901000000
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: RML

Amenities

None: Yes

Dining Area

Formal Dining: Yes
Kitchen Dining: Yes

Electric

Three Phase: Yes

Fireplace Features

Decorative: Yes

Flooring

Carpet: Yes
Wood: Yes
Other: Yes

Guest House Features

2 Baths: Yes
2 Bedrooms: Yes
Garage: Yes
Kitchen: Yes
Patio: Yes

Parking Features

Circular Driveway: Yes
Garage Door Opener: Yes
Open: Yes
RV Access/Parking: Yes
Attached Garage: Yes
Garage: Yes

Property Condition

Resale: Yes

Sewer

Septic Tank: Yes

Special Information

Property Survey Available: Yes

Utilities

Cable Available: Yes
Water Available: Yes

View

Preserve: Yes

Heating

Central: Yes
Electric: Yes

Water Access

No Fixed Bridge: Yes
Ocean Access: Yes

Water View

Canal: Yes

Window Features

Storm Window(s): Yes

Appliances

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Free-Standing Freezer: Yes
Gas Range: Yes
Refrigerator: Yes
Washer: Yes

Construction Materials

Block: Yes
CBS: Yes
Other: Yes

Interior Features

Bar: Yes
Bedroom Layout - Split: Yes
Built-in Features: Yes
Entrance Foyer: Yes
High Ceilings: Yes
Kitchen Island: Yes
Pantry: Yes
Storage: Yes
Upstairs Living Area: Yes
Walk-In Closet(s): Yes
Wet Bar: Yes

Laundry Features

Inside: Yes
Laundry Closet: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Other Equipment

Fuel Tank(s): Yes

Pool Features

Free Form: Yes
Gunite: Yes
In Ground: Yes

Roof

Metal: Yes

Security Features

Gated - No Guard: Yes

Water Source

Well: Yes

Waterfront Features

Navigable Water: Yes
No Fixed Bridges: Yes

Architectural Style

Other: Yes

Boat and Dock Features

Electric Available: Yes
Lift: Yes
Private Dock: Yes
Water Available: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes

Showing Requirements

24 Hour Notice: Yes
Listing Agent Must Accompany: Yes
Schedule Online: Yes

Master Bedroom/Bath

2 Master Suites: Yes
Dual Sinks: Yes
Master Bdrm - Ground: Yes
Master Bdrm - Upstairs: Yes
Separate Shower: Yes
Separate Tub: Yes

Pets Allowed YN

Yes: Yes

Restrictions

Other Restrictions: Yes

Tax Information

Homestead Exemption: Yes

Outdoor Living Spaces

Balcony: Yes
Deck: Yes
Patio: Yes
Porch: Yes

Balcony Details

Balcony - Open: Yes
Balcony - Screened: Yes

Patio Details

Patio - Covered: Yes
Patio - Open: Yes

Porch Details

Porch - Screened: Yes

Contingencies

Financing: Yes

Acreage Description

10 Or More Acre Lot: Yes

Room Information

Room Name	Length	Width	Level	Remarks
Living Room	15.00	20.00	Main	Estimate
Kitchen	15.00	12.00	Main	Estimate
Master Bedroom	14.00	12.00	Upper	Estimate
Family Room
Great Room
Loft
Maid/In-Law Quarters
Laundry

Listing Office: Douglas Elliman Jupiter

Last Updated: May - 10 - 2026

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

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2901 SW Lake Terrace, Palm City, FL 34990 (MLS# R10994601)