Multifamily

The Palms Apartments

1308 36th Ave W, Bradenton, FL 34205

Listing Price: $950,000

Cap Rate
5.54%
Number of Units
12
Price/Unit
$79,167
Price/Gross SF
$131.94
Gross SF
7,200

Investment Overview

A 12-Unit Apartment Community Located in Bradenton, Florida

Investment Highlights

  • Prime Location Directly on US-41 Business (14th Street West) in Very Close Proximity to the Area's Major Retail Corridors
  • Concrete Block Construction with Pitched, Composition Shingle Roofs
  • On-Site Billboard Provides Strong Source of Ancillary Income
  • Strong Value Add Opportunity to Increase In-Place Rents by Nearly $200 Through Interior Renovations
  • Historically High Occupancy Levels – Currently 100% Occupied
  • Ability to Increase Effective Gross Income by Approximately 24% by Eliminating Current Loss-to-Lease and Executing Value-Add Strategy
  • Located in an IRS-Designated Opportunity Zone
  • Less than Three Miles from the Office, Dining, and Shopping Destinations of Downtown Bradenton

Exclusively Listed By

Listing Price: $950,000

Cap Rate
5.54%
Number of Units
12
Price/Unit
$79,167
Price/Gross SF
$131.94
Gross SF
7,200

Investment Highlights

  • Prime Location Directly on US-41 Business (14th Street West) in Very Close Proximity to the Area's Major Retail Corridors
  • Concrete Block Construction with Pitched, Composition Shingle Roofs
  • On-Site Billboard Provides Strong Source of Ancillary Income
  • Strong Value Add Opportunity to Increase In-Place Rents by Nearly $200 Through Interior Renovations
  • Historically High Occupancy Levels – Currently 100% Occupied
  • Ability to Increase Effective Gross Income by Approximately 24% by Eliminating Current Loss-to-Lease and Executing Value-Add Strategy
  • Located in an IRS-Designated Opportunity Zone
  • Less than Three Miles from the Office, Dining, and Shopping Destinations of Downtown Bradenton

Investment Overview

A 12-Unit Apartment Community Located in Bradenton, Florida

Exclusively Listed By

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