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29322113
29322120

1007 57th Ave W, Bradenton, FL 34207

JH
FL SL3265708
Marcus & Millichap - RPH Multifamily Group
NR
FL SL3211874
Marcus & Millichap - RPH Multifamily Group
SF
FL 3451285
Marcus & Millichap - RPH Multifamily Group
Listed by Marcus & Millichap - RPH Multifamily Group
$5,400,000
135 days on market
Updated 87 days ago

Rainbow Lake Apartments

Details
APN 5882000409 – 5882001809 (Full Parcel List Available Upon Request)
Property Type Multifamily
Sub Type Apartment Building
Square Footage 28,043
Units 29
Cap Rate 6.41%
NOI $345,900
Occupancy 100%
Pro-Forma Cap Rate 7.71%
Pro-Forma NOI $422,672
Price per SqFt $193
Year Built 2008
Buildings 4
Stories 2
Acreage 7.950
Zoning RMF-9

29 Units in Bradenton

Marketing description

OFFERING MEMORANDUM AND FINANCIALS AVAILABLE VIA ‘Due Diligence’ BUTTON.

Please reach out to Jason Hague ([email protected]) to discuss the deal.

Investment highlights

  • 2008 vintage, townhome-style property

  • Unit Mix – All two bedroom one and one-half bath room at 967 square feet

  • Every Unit has a stackable washer and dryer, patios as well as water views for select units

  • Major renovations across the property including brand new roofs as well as exterior paint

  • Situated just seconds from multiple major retail corridors giving tenants easy access to employment, entertainment, shopping and easy access to the local schools

  • Just a short drive from some of Florida’s most beautiful beaches including, Bradenton Beach, Longboat Key and Siesta Key

  • The fast growing metro of Northport-Bradenton-Sarasota is expected to continue to say strong population growth trends in conjunction with expected per capita incoming to increase 16% through 2027 (Institute of Economic Forecasting - UCF)

  • Assumable Loan with a blended rate under 5%

Listing Contacts

JH
FL SL3265708
Marcus & Millichap - RPH Multifamily Group
NR
FL SL3211874
Marcus & Millichap - RPH Multifamily Group
SF
FL 3451285
Marcus & Millichap - RPH Multifamily Group
Listed by Marcus & Millichap - RPH Multifamily Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$345,900.00
$28,825.00/mo

Valuation Metrics

0
DSCR
6.41%
Cap Rate
6.41%
ROI

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Additional Information

Name
Ryan Nee
License
FL 3154667
Title
Broker of Record
Name
Jason Hague
License
SL3265708
Name
Ned Roberts, CCIM
License
SL3211874
Name
Sam Ferguson
License
3451285
Brokerage
Marcus & Millichap Tampa
Brokerage Address
201 North Franklin Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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