926 West Apartments 4 Units Near Downtown Bradenton Florida

Property Overview

Address

928 16th Street W
Bradenton, FL 34205

Offering Summary

The Multifamily Firm is proud to present the exclusive right of sale for the 926 West Apartments in Bradenton Florida. 926 West consists of four total units, in two buildings, on one parcel of land just south of the Manatee River and downtown Bradenton. The property features One, large 2 bedroom / 2 bathroom unit at the front of the parcel, and Two, 1 bedroom / 1 bathroom units, & One, studio/efficiency unit, at the rear end of the parcel.

Throughout the current ownership tenure, numerous updates have been performed to the property. In the house unit, a new refrigerator, shower door, shower head and exhaust fan were just installed last year. In 2014, the house unit was also updated with a new central AC system & a new dishwasher, and just recently new carpets were installed in the bedrooms, as well as all new blinds & new paint throughout the interior. Unit 1 was recently updated with a new central AC system, refrigerator and dishwasher in 2017. Unit 2 had two new window AC units installed in September of 2016, and the carpeting was just replaced in March of this year. Unit 3 had a new window AC installed in July, new laminate flooring installed in September of 2016, and a new shower upgraded in late part of 2012. Lastly, the exterior of the property was equipped with a new coin-operated dryer in January of 2017, and a new roof on the rear structure was installed in April of 2012.

All said, the 926 West Apartments is an amazing opportunity to acquire a stabilized & strong cash-flowing multifamily asset, with additional upside, in an opportunity zone location that is poised for strong appreciation!

Highlights

- Located in an Opportunity Zone allowing for the ability to forego capital gains taxes after a 10-year hold

- Strong cash-flowing & stabilized multifamily asset with additional upside!

- Property has been very well managed and maintained during the current ownership tenure.

- Professional 3rd party management already in place that can be assumed by a buyer

- Property is located just South of the Manatee River & Downtown Bradenton.

Property Details

Investment Summary

  • Asking Price: $375,000
  • CAP Rate: 8.31% (Current)
  • CAP Rate: 9.02% (Proforma)
  • Number of Units: 4
  • Building Area: 3,434 SF
  • Year Built: 1960
  • Land Acres: .24
  • Number of Bldgs: 2
  • Number of Parcels: 1



Location

Demographics

Summary

1 MILE 3 MILE 5 MILE
2018 Population 14,378 94,407 193,661
2018 Median HH Income $41,703 $39,603 $43,324
2018 Average HH Income $58,682 $55,873 $60,770

Brokerage Team

About Us

The Multifamily Firm is a premier investment real estate brokerage exclusively focused on the disposition & acquisition of multifamily properties. Based in Sarasota and Tampa  Florida, the firm is strongly positioned at the epicenter of economic growth and activity on the West Coast of Florida.

Phil Ginexi

Managing Director
The Multifamily Firm
(631) 404-6060 Phil@MultifamilyFirm.com

Kyle Keelan

Managing Partner
The Multifamily Firm
(727) 251-5953 Kyle@MultifamilyFirm.com

Sarasota & Bradenton's Multifamily Specialists!