2424 36Th Ave Bradenton, FL 34205
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High-Yield Multifamily Investment
Property size:
7,776 SFProperty Features for 2424 36Th Ave
General Information
- Property type
- Multifamily properties
- Square Feet
- 7,776 SF
- Lot Size
- 84,942 SF
Building Details
- Year Built/Renovated
- 1982/2022
- Stories
- 1
- Units
- 8
Listing Agency: American Property Group Listing Agent: Adam T Doak
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 8-unit condo portfolio in Bradenton, Florida, presents a compelling investment opportunity. Located at 2424 36th Ave W, 34205, this property boasts a total of 7,776 square feet across eight units, each offering approximately 972 square feet of living space. Each unit features two bedrooms and two bathrooms, a full kitchen, living room, dining area, and washer/dryer hookups. The property sits on a 1.95-acre lot and benefits from a permitted PD-R zoning designation. Built in 1982 and extensively renovated in 2022, the property is currently 100% occupied, generating a current Net Operating Income (NOI) of $95,800, representing a 7.39% cap rate. A pro-forma NOI of $116,200 is projected, resulting in an 8.96% pro-forma cap rate, achievable through lease adjustments. The recent completion of a full roof replacement in 2024 further enhances the property's value and reduces future maintenance concerns. Five tenants are on month-to-month leases, with two leases expiring in October 2024 and January 2025, providing opportunities for rental increases. All eight units must be purchased together. A Non-Disclosure Agreement (NDA) and proof of funds are required before interior tours are granted to protect the current tenants. The property's APN numbers are 5057510207, 5057510256, 5057510454, 5057510652, 5057510702, 5057510900, 5057510959, and 5057511007. This is a turnkey investment with significant upside potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Bradenton
- County
- Manatee
- State
- Florida
- Longitude
- -82.586810394863
- Latitude
- 27.468290869819
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FAQs
What type of property is this?
Multifamily property - High-Yield Multifamily Investment
Where is this multifamily property located?
The property is located at 2424 36Th Ave Bradenton, FL.
What is the asking price?
The asking price for this property is $1,297,000.
What are key features of this property?
This property features: 8-unit condo portfolio in Bradenton, FL, located in Silk Oak Condo Park.; Asking price: $1,297,000, offering a 7.39% cap rate and a pro-forma cap rate of 8.96%.; Currently generating a NOI of $95,800, projected to increase to approximately $116,200 with lease adjustments.