612 26Th St Bradenton, FL 34205

Property Details for 612 26Th St

Year built

1920

Lot size

0.18 lot acres

Property size

2,734 SF

Property type

Apartment buildings

Description

This fee-simple multifamily investment property, located at 612 26th St W, Bradenton, FL 34205, presents a compelling value-add opportunity. The 2-story, 1920s-era building comprises four units: one 2-bedroom/1-bathroom and three 1-bedroom/1-bathroom units, totaling 2,580 net rentable square feet on a 0.18-acre lot. The asking price is $554,000, representing $138,500 per unit and $202.63 per square foot. The property boasts a 7.60% cap rate with a pro-forma cap rate of 8.11%. Features include an on-site laundry room, ample off-street parking, and recently painted exteriors. Significant upside potential exists through the restoration of three concrete block garages located at the rear of the property. The building has a strong rental history and has remained unaffected by recent hurricanes, providing consistent cash flow. Its convenient location is minutes from Downtown Bradenton and the Riverwalk, and within five minutes of supermarkets and major retailers. The property is also approximately two miles west of Manatee Memorial Hospital. This is a unique and charming investment opportunity in a desirable location. The total building square footage is 2,734 square feet.