2406 11TH Street West, Bradenton, FL 34205 | Listings

2406 11TH Street West, Bradenton, FL 34205

  • $995,000
  • 9,266 sq ft
  • Year Built: 1987
  • Residential Income
  • Listing #T3271474

Property Description

Great cash flowing multi-family property with value add upside! 2406 11th St W, Bradenton, FL 34205 is a 9 unit multi-family property located approximately 20 minutes north of Sarasota and 30 minutes south of downtown St. Petersburg.
The property is located in Manatee County and considered part of the greater Tampa Bay MSA. The building consists of concrete block masonry construction with stucco exterior and concrete foundation. Roof was permitted and re-roofed seven years ago and consists of pitched wood truss framing and sheet metal roofing. Each living unit boasts large living spaces and great unit mix. There are six 2 bed/1 bath apartments, each measuring approx. 950 sqft. There are also three 3 bed/1 bath apartments, each measuring approx. 1,200 sqft. Attached to building is a coin operated laundry facility and locked storage shed.
There exists major opportunity for value-add rent increase. The property rents are significantly under market with 2/1 units $125+ higher and 3/1 units $250+ higher for similar properties in the immediate area. The property has continually operated at 100% occupancy with many long term tenants.
One of the biggest benefits that this building offers is that it includes central A/C and each unit is separately metered and billed for electricity and water. This allows for the owner to focus on fixed operating expenses without the worry of unexpected increases from overuse or main line leaks. The property also boasts an oversized parking lot and sits at the end of a street, allowing for minimal noise and car/ foot traffic.

Listing Details

Price$995,000
Year Built1987
Property TypeResidential Income
Listing #T3271474
StatusActive
CountyManatee
Listing TypeFor Sale

Interior Features

Square Feet9,266
Heating and CoolingCentral, Central Air
LaundryInside, Laundry Room

Exterior Features

ExteriorBlock, Concrete, Stucco
FoundationSlab
RoofMetal

Miscellaneous

MLS Area34205 - Bradenton

Courtesy of Daniel Fischer, Graystone Real Estate

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This content last updated on 2/28/2021 4:21 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

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