Renovated Duplex with In-Place
For Sale
$599,900
1207 62ND AVENUE E, Bradenton, FL 34203
Fully renovated two-unit property with occupied units and updated kitchens and bathrooms.
Property Size2,036 SF
Price / SF$294.65
Days on Market60
Property Features for 1207 62ND AVENUE E
General Information
Standard status
Active
Size
2,036 SF
Property subtype
Duplex
Occupancy
100%
Net Operating Income
$40,605
Financials
Asking Price
$599,900
Cap Rate
6.8%
Additional Details
Multifamily Units
2
Building Details
Year Built
1985
Buildings
1
Tenancy
Multi
Listing Agency:
POWELL REALTY
(904) 422-1224
Listed By:
Cody Powell · License #3232623
(904) 710-8056
Source:
Endlesssummerrealty
Added: Aug 15
Changed: Oct 13
Last Checked: Oct 12 at 7:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of POWELL REALTY
Investment Insights
Based on property information with market context.
This 2,036-square-foot duplex, built in 1985, has undergone a comprehensive interior renovation. Both units were taken down to the studs and updated with remodeled kitchens and bathrooms, quartz countertops, and walk-in showers in the master bathrooms. The roof was replaced five years ago, providing a recent major capital improvement.
Both residences are occupied, providing an operating income component from the outset. The property is part of a group of four adjacent duplex buildings, with three additional duplexes also available for purchase. Each building may be acquired separately, allowing the asset to stand alone or be considered alongside the neighboring properties.
Both residences are occupied, providing an operating income component from the outset. The property is part of a group of four adjacent duplex buildings, with three additional duplexes also available for purchase. Each building may be acquired separately, allowing the asset to stand alone or be considered alongside the neighboring properties.
Key Highlights
- 2,036‑square‑foot duplex built in 1985
- Both units are currently occupied
- Interior renovation included work down to the studs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,746
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,920
$534.9K
Cap Rate 7%
$382,086
$382.1K
Cap Rate 9%
$297,178
$297.2K
Market Conditions
NOI Build-Up for 2,036 SF
Gross rent
$40.3K $19.80/SF
− Vacancy
−$2.1K −$1.03/SF
EGI
$38.2K $18.77/SF
− OpEx
−$11.5K −$5.63/SF
NOI
$26.7K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,920
Cap Rate 7%
$382,086
Cap Rate 9%
$297,178
Alternative Uses
Best Use
Multifamily LT 5
$382.1K
$334.3K – $445.8K
NOI $26,746 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$351.9K
$307.9K – $410.6K
NOI $24,635 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$598.7K
$523.9K – $698.5K
NOI $41,911 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated two-unit property with occupied units and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 1207 62ND AVENUE E Bradenton, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,036‑square‑foot duplex built in 1985; Both units are currently occupied; Interior renovation included work down to the studs
