Ironwood Penthouse with Golf
3820 IRONWOOD LANE 603I Bradenton, FL 34209
Luxurious penthouse with golf course views, near beaches and shopping.
Type:Condo/Townhome
Property size:
1,008 SFPrice / SF:
$237/SF- Added:
- Jun 24, 2024
- Days on Market:
- 746
- Last Refresh:
- Apr 5 at 10:48 pm
Property Features for 3820 IRONWOOD LANE 603I
General Information
- Standard status
- Active
- Size
- 1,008 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1978
Listing office MEDWAY REALTY (941) 538-7649
Listing date Jun 24, 2024
Source Exitrealty
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 MEDWAY REALTY
Investment Insights
Based on property information with market context.
Located on the 6th floor, this penthouse residence in Ironwood offers views of the golf course and pool. This two-bedroom, two-bathroom home features a kitchen with quartz waterfall countertops, a quartz backsplash, slow-close upgraded wood cabinets, matching stainless steel LG appliances, and a glass cooktop. Luxury Vinyl Plank flooring extends throughout the home. The primary bedroom includes new carpet, plantation shutters, a ceiling fan, and two closets, including a walk-in. The en-suite bathroom has been updated with a modern walk-in shower. Fresh paint has been applied throughout the residence. The property includes covered parking and a separate exterior storage closet. The HOA maintains the grounds. Residents have access to a heated pool, a large clubhouse with a full kitchen, grilling areas, and shuffleboard. The property is located 6 miles from the beach and is near shopping areas. The property is intended for residential use.
Key Highlights
- Breathtaking views of the golf course and pool from the 6th‑floor penthouse location, offering unparalleled privacy.
- Updated kitchen featuring quartz waterfall countertops, quartz backsplash, slow‑close upgraded wood cabinets, stainless steel LG appliances, and a glass cooktop.
- Proximity to the beach (6 miles) and shopping areas.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.5k | $23.28 |
| − Vacancy | −$1.3k | −$1.28 |
| EGI | $22.2k | $22.00 |
| − OpEx | −$10.0k | −$9.90 |
| NOI | $12.2k | $12.10 |
1,008 SF · lease $23.28/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$174.2K
$152.5K – $203.3K
NOI $12,197 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.4K
$259.4K – $345.8K
NOI $20,749 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Luxurious penthouse with golf course views, near beaches and shopping.
Where is this residential income property located?
The property is located at 3820 IRONWOOD LANE 603I Bradenton, FL.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Breathtaking views of the golf course and pool from the 6th‑floor penthouse location, offering unparalleled privacy.; Updated kitchen featuring quartz waterfall countertops, quartz backsplash, slow‑close upgraded wood cabinets, stainless steel LG appliances, and a glass cooktop.; Proximity to the beach (6 miles) and shopping areas.
