Multifamily

The Duplexes on 59th

1118 59th Ave Cir E, Bradenton, FL 34203

Listing Price: $2,400,000

Cap Rate
7.16%
Number of Units
18
Price/Unit
$133,333
Price/Gross SF
$141.09
Gross SF
17,010

Investment Overview

18-Unit Multifamily Asset Located in Bradenton, FL Nine Contiguous Buildings Comprising an Entire Cul-de-sac

Investment Highlights

  • Tenants Pay All Utilities Directly to Utility Provider
  • Multiple Exit Strategies Including Ability to Sell Units Off Individually, As All Buildings Are Individually Parceled
  • Less Than Two Miles to the Nearest Grocery Store
  • Less Than Two Miles from Highway 301 – A Major North-South Arterial Road With Average Daily Traffic Counts in Excess of 40,000 Vehicles Per Day
  • Concrete Block Construction with Brand New Roofs, Exterior Paint and Six Fully-Renovated Units (All Work Completed in 2020)
  • Strong Value-Add Potential with Opportunity to Increase In-Place Rents by More than $200 Through Continuing the Proven Unit Interior Renovation Plan
  • Desirable Unit Mix – 100% Three-Bedroom / Two-Bath Units

Exclusively Listed By

Listing Price: $2,400,000

Cap Rate
7.16%
Number of Units
18
Price/Unit
$133,333
Price/Gross SF
$141.09
Gross SF
17,010

Investment Highlights

  • Tenants Pay All Utilities Directly to Utility Provider
  • Multiple Exit Strategies Including Ability to Sell Units Off Individually, As All Buildings Are Individually Parceled
  • Less Than Two Miles to the Nearest Grocery Store
  • Less Than Two Miles from Highway 301 – A Major North-South Arterial Road With Average Daily Traffic Counts in Excess of 40,000 Vehicles Per Day
  • Concrete Block Construction with Brand New Roofs, Exterior Paint and Six Fully-Renovated Units (All Work Completed in 2020)
  • Strong Value-Add Potential with Opportunity to Increase In-Place Rents by More than $200 Through Continuing the Proven Unit Interior Renovation Plan
  • Desirable Unit Mix – 100% Three-Bedroom / Two-Bath Units

Investment Overview

18-Unit Multifamily Asset Located in Bradenton, FL Nine Contiguous Buildings Comprising an Entire Cul-de-sac

Exclusively Listed By

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