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Multifamily

53rd Avenue Apartments

2401 53rd Ave W, Bradenton, FL 34207

Listing Price: $1,900,000

Cap Rate
5.51%
Number of Units
15
Price/Unit
$126,667
Price/Gross SF
$130.11
Gross SF
14,603

Investment Overview

29-unit, three property portfolio in Bradenton & Palmetto, Florida (greater Tampa Bay area)

Investment Highlights

  • Available collectively or individually and consist of a 15-unit parcel grouping in Bradenton, which includes three single family homes, and 8-unit & 6-unit duplex groupings in Palmetto
  • Properties are located within 20 minutes of each other
  • Attractive unit mix with 89.7% two- and three-bedroom floor plans
  • Substantial value-add potential with opportunity to increase effective gross income 24% by Year Two through renovations
  • Tenants pay all utilities, either directly to utility provider or via flat fee to landlord
  • High historical occupancy levels – currently 96.5% occupied
  • Each property affords ease of access to Downtown Bradenton office, dining & shopping destinations, as well as Palmetto's Historic District – both of which border the scenic Manatee River
  • Within commuting distance to Tampa, St. Petersburg and Sarasota

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $1,900,000

Cap Rate
5.51%
Number of Units
15
Price/Unit
$126,667
Price/Gross SF
$130.11
Gross SF
14,603

Investment Highlights

  • Available collectively or individually and consist of a 15-unit parcel grouping in Bradenton, which includes three single family homes, and 8-unit & 6-unit duplex groupings in Palmetto
  • Properties are located within 20 minutes of each other
  • Attractive unit mix with 89.7% two- and three-bedroom floor plans
  • Substantial value-add potential with opportunity to increase effective gross income 24% by Year Two through renovations
  • Tenants pay all utilities, either directly to utility provider or via flat fee to landlord
  • High historical occupancy levels – currently 96.5% occupied
  • Each property affords ease of access to Downtown Bradenton office, dining & shopping destinations, as well as Palmetto's Historic District – both of which border the scenic Manatee River
  • Within commuting distance to Tampa, St. Petersburg and Sarasota

Investment Overview

29-unit, three property portfolio in Bradenton & Palmetto, Florida (greater Tampa Bay area)

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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