Renovated Multifamily Property Near
For Sale
$1,299,000
Pending
1559 7TH Ave W, Bradenton, FL 34205
Recently renovated 6-unit multifamily property near downtown Bradenton, Florida.
Property Size6,180 SF
Lot Size0.26 Acres
Days on Market142
Property Features for 1559 7TH Ave W
General Information
Standard status
Pending
Size
6,180 SF
Lot size
0.26 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$15,449
Building Details
Building Size
6,180 SF
Year Built
1975
Units
6
Listing Agency:
The Multifamily Firm
(631) 404-6060
Listed By:
Phil Ginexi · License #SL3266689
(631) 404-6060
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Jul 23 at 11:07AM
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 The Multifamily Firm
Investment Insights
Based on property information with market context.
Edgewater Apartments is a recently renovated 6-unit multifamily property located near downtown Bradenton, Florida. The property is currently vacant, following renovations completed in early 2026. The units are spacious, two-story townhome-style with 2-bedroom / 1.5-bathroom floorplans. Interior updates include LVP flooring, granite countertops, white cabinetry, stainless steel appliances, and modern bathroom finishes. Additional property features include covered carports, private laundry rooms with washer/dryer hookups, rear patios, and water-view balconies with built-in storage. The property has also benefited from major system updates, including a new roof in 2021, four AC systems replaced in 2025, and the remaining two replaced in 2023 and 2019.
Key Highlights
- Recently renovated 2‑bedroom / 1.5‑bathroom townhome‑style units with modern finishes
- Potential seller financing available
- New roof (2021) and recently replaced AC systems (2019‑2025)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,777
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,495,540
$1.5M
Cap Rate 7%
$1,068,243
$1.1M
Cap Rate 9%
$830,856
$830.9K
Market Conditions
NOI Build-Up for 6,180 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$143.9K $23.28/SF
− Vacancy
−$7.9K −$1.28/SF
EGI
$136.0K $22.00/SF
− OpEx
−$61.2K −$9.90/SF
NOI
$74.8K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,495,540
Cap Rate 7%
$1,068,243
Cap Rate 9%
$830,856
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$934.7K – $1.25M
NOI $74,777 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,214 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
923
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently renovated 6-unit multifamily property near downtown Bradenton, Florida.
Where is this apartment building located?
The property is located at 1559 7TH Ave W Bradenton, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Recently renovated 2‑bedroom / 1.5‑bathroom townhome‑style units with modern finishes; Potential seller financing available; New roof (2021) and recently replaced AC systems (2019‑2025)
