Oak Park Apartments
Multifamily | 145 Units
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to acquire Oak Park Apartments, a 145-unit apartment community in Bradenton, Florida (the “Property”). Constructed in 1981, Oak Park Apartments, is a desirable asset in the Central Bradenton neighborhood of Bradenton. Positioned with convenient access to Sarasota Bay, the Manatee River, and Tampa Bay, Oak Park Apartments contains one (1) single-story community building, seven (7) two-story residential buildings and contains one-hundred forty-five (145) units comprising thirty-two (32), 1-Bedroom/1-Bathroom units, one-hundred twelve (112), 2-Bedroom/2- Bathroom units and one (1), large 2-Bedroom/2-Bathroom unit with 117,050 rentable square feet on a large 9.64-acre parcel of land. The professionally managed residential community features gated community access, a central courtyard with abundant green space, a swimming pool, picnic and grilling area, and a laundry facility. The community also offers ample on-site parking for residents.
Located at 2019 5th Street West in Bradenton’s Central Bradenton neighborhood, the Property is located one block from S Tamiami Trail (US Route 41) and is convenient to the Downtown Commercial District. Oak Park Apartments is seconds from the junction of US Highway 301, the area’s primary commuter corridor, and S Tamiami Trail (US Route 41), the area’s primary commercial corridor offering a wide array of shopping, dining, and grocery options, and several other state roads and highways. Bradenton’s downtown also features a plethora of employment and entertainment opportunities. Bradenton is positioned along the Manatee River and offers convenient access to the Gulf of Mexico, Sarasota, St. Petersburg, and Tampa.
Bradenton is home to pristine beaches, and the surrounding area is continually ranked among the top travel destinations in the United States, funneling tourism dollars into the local economy.
Investment highlights
THE ASSET
Constructed in 1981, Oak Park Apartments comprises seven (7) two-story residential buildings, one (1) single-story community building and contains one-hundred forty-five (145) units comprising thirty-two (32), 1-Bedroom/1- Bathroom units, one-hundred twelve (112), 2-Bedroom/2-Bathroom units and one (1), large 2-Bedroom/2-Bathroom unit with 117,050 rentable square feet on a large 9.64-acre parcel of land.
PROPERTY & UNIT AMENITIES
The professionally managed residential community features gated and secure access, a central courtyard with abundant green space, a swimming pool, picnic and grilling area, and an on-site laundry facility. The community also offers ample on-site parking for residents. The well-maintained units offer spacious, open floor plans with direct entry, tile and vinyl plank flooring, large closets, fully equipped kitchens, central air conditioning, and a private patio or balcony.
DESIRABLE LOCATION
The Property is well positioned in the Central Bradenton neighborhood of Bradenton. The gated and secure Property is in a residential neighborhood surrounded by single and multi-tenant residential properties and offers a quiet rural setting. The Property is 0.4-miles from S Tamiami Trail (US Route 41), and 0.5-miles from US Highway 301, the area’s primary commercial and commuter corridors and is also close to downtown Bradenton, the Manatee River, Bradenton beaches, and is 7-miles from Interstate 75.
ACCESS TO AREA AMENITIES
The Property is situated just south of downtown Bradenton, seconds from S Tamiami Trail (US Route 41), the area’s primary commercial thoroughfare, and is 0.5-miles from US Highway 301, and is close to SR 70, 684 and 64, providing direct access to the barrier islands. The location offers convenient access to an array of amenities including marinas, grocery stores, national restaurants and retailers, local businesses and services, and numerous bars and cafés. Additionally, the area is home to the Sarasota- Bradenton International Airport, the Gulf of Mexico, the area’s barrier islands, which are home to a variety of outdoor recreational activities, and countless golf courses.
STRONG HIGHER EDUCATION PRESENCE
The Property enjoys convenient access to several colleges and universities including New College of Florida, University of South Florida Sarasota-Manatee Campus, State College of Florida, Keiser University, Everglades University Sarasota, Ringling College of Art and Design, and Manatee Technical College.
DEMOGRAPHICS
Approximately 103,700 people live within 3-miles of the Property with an average household income of $79,743. More than 213,300 people live within 5-miles of the Property with an average household income of $91,986. The immediate area (1-mile radius) anticipates population growth at a rate of 1.4% per year for the next 5 years.
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