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Multifamily

Bradenton Villas

1116 59th Ave Cir E, Bradenton, FL 34203

Listing Price: $3,550,000

Cap Rate
5.90%
Number of Units
18
Price/Unit
$197,222
Price/Gross SF
$208.70
Gross SF
17,010

Investment Overview

18-unit multifamily asset located between Tampa and Sarasota in Bradenton, FL

Investment Highlights

  • 18-unit multifamily asset located between Tampa and Sarasota in Bradenton, FL
  • Unique location, with nine contiguous, individually-parceled duplexes comprising an entire cul-de-sac
  • Highly desirable unit mix with 100% Three-Bedroom / Two-Bath Units
  • Turnkey asset with majority of units recently upgraded
  • Upgrades include all new wood-look tile plank flooring, shaker-style cabinetry, stainless steel appliances with built-in microwaves, quartz countertops with undermount sinks, bathroom vanities and fixtures
  • Upside achievable via three remaining unit interior renovations, and elimination of loss to lease which may realize 24.9% increase in EGI by end of Year Two
  • Concrete Block Construction with all roofs replaced in 2020
  • Units include wash/dryer appliances

Exclusively Listed By

Multifamily

Bradenton Villas

Listing Price: $3,550,000

Cap Rate
5.90%
Number of Units
18
Price/Unit
$197,222
Price/Gross SF
$208.70
Gross SF
17,010

Investment Highlights

  • 18-unit multifamily asset located between Tampa and Sarasota in Bradenton, FL
  • Unique location, with nine contiguous, individually-parceled duplexes comprising an entire cul-de-sac
  • Highly desirable unit mix with 100% Three-Bedroom / Two-Bath Units
  • Turnkey asset with majority of units recently upgraded
  • Upgrades include all new wood-look tile plank flooring, shaker-style cabinetry, stainless steel appliances with built-in microwaves, quartz countertops with undermount sinks, bathroom vanities and fixtures
  • Upside achievable via three remaining unit interior renovations, and elimination of loss to lease which may realize 24.9% increase in EGI by end of Year Two
  • Concrete Block Construction with all roofs replaced in 2020
  • Units include wash/dryer appliances

Investment Overview

18-unit multifamily asset located between Tampa and Sarasota in Bradenton, FL

Exclusively Listed By

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