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    2406 11TH Street W

    Bradenton, FL 34205
    • $995,000
    • STATUS: Active
    • ON SITE: 35 days
    • MLS #: T3271474
    UPDATED: 236 min ago
    $995,000
    • 0
      BEDS
    • 0.7
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,266
      SQFT
    • $107
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1987
    County:
    Area:

    School Ratings & Info

    Description

    Great cash flowing multi-family property with value add upside! 2406 11th St W, Bradenton, FL 34205 is a 9 unit multi-family property located approximately 20 minutes north of Sarasota and 30 minutes south of downtown St. Petersburg. The property is located in Manatee County and considered part of the greater Tampa Bay MSA. The building consists of concrete block masonry construction with stucco exterior and concrete foundation. Roof was permitted and re-roofed seven years ago and consists of pitched wood truss framing and sheet metal roofing. Each living unit boasts large living spaces and great unit mix. There are six 2 bed/1 bath apartments, each measuring approx. 950 sqft. There are also three 3 bed/1 bath apartments, each measuring approx. 1,200 sqft. Attached to building is a coin operated laundry facility and locked storage shed. There exists major opportunity for value-add rent increase. The property rents are significantly under market with 2/1 units $125+ higher and 3/1 units $250+ higher for similar properties in the immediate area. The property has continually operated at 100% occupancy with many long term tenants. One of the biggest benefits that this building offers is that it includes central A/C and each unit is separately metered and billed for electricity and water. This allows for the owner to focus on fixed operating expenses without the worry of unexpected increases from overuse or main line leaks. The property also boasts an oversized parking lot and sits at the end of a street, allowing for minimal noise and car/ foot traffic.

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    © 2020 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2020-11-23T23:40:28.723.
    www.memoryhopkinsrealestate.com/homes/111147785
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    2406 11TH Street W Bradenton, FL 34205

    • Price: $995,000
    • Status: Active
    • Updated: 236 min ago
    • MLS #: T3271474
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.7
    Acres
    9,266
    SQFT
    $107
    $/SQFT
    1987
    Built
    Neighborhood:
    Edgewood 3RD Add
    County:
    Manatee
    Area:
    Bradenton
    Property Description
    Great cash flowing multi-family property with value add upside! 2406 11th St W, Bradenton, FL 34205 is a 9 unit multi-family property located approximately 20 minutes north of Sarasota and 30 minutes south of downtown St. Petersburg. The property is located in Manatee County and considered part of the greater Tampa Bay MSA. The building consists of concrete block masonry construction with stucco exterior and concrete foundation. Roof was permitted and re-roofed seven years ago and consists of pitched wood truss framing and sheet metal roofing. Each living unit boasts large living spaces and great unit mix. There are six 2 bed/1 bath apartments, each measuring approx. 950 sqft. There are also three 3 bed/1 bath apartments, each measuring approx. 1,200 sqft. Attached to building is a coin operated laundry facility and locked storage shed. There exists major opportunity for value-add rent increase. The property rents are significantly under market with 2/1 units $125+ higher and 3/1 units $250+ higher for similar properties in the immediate area. The property has continually operated at 100% occupancy with many long term tenants. One of the biggest benefits that this building offers is that it includes central A/C and each unit is separately metered and billed for electricity and water. This allows for the owner to focus on fixed operating expenses without the worry of unexpected increases from overuse or main line leaks. The property also boasts an oversized parking lot and sits at the end of a street, allowing for minimal noise and car/ foot traffic.
    Exterior Features

    Carport Yn No Construction Materials BlockConcreteStucco Exterior Features LightingOtherSidewalkStorage Foundation Details Slab Lot Features Cul-De-SacStreet Dead-EndStreet Paved Other Structures Storage Parking Features GuestOff StreetOpenOversized Patio And Porch Features CoveredFront PorchPorch Pool Private Yn No Roof Metal View Trees/Woods Water Access Yn No Water Extras Yn No Waterfront Feet Total 0 Waterfront Yn No

    Interior Features

    Cooling Central Air Fireplace Yn No Heating Central Laundry Features InsideLaundry Room Levels One Sewer Public Sewer Water Source Public

    Property Features

    Additional Parcels Yn No Annual Expenses 32037 Annual Net Income 60623.00 Association Yn No Cdd Yn No Disclosures None DPR No Est Annual Market Income 115200.00 Flood Zone Code AeX Garage Yn No Lease Term 12 Months Listing Terms CashConventional New Construction Yn No Property Condition Completed Property Description Mid Rise Property Sub Type Multi-Family Realtor Info Brochure AvailableDocs AvailableNo SignSold As-Is Senior Community Yn No Special Listing Conditions None Sw Subdiv Community Name Edgewood Tax Annual Amount 12305.87 Tax Year 2019 Total Actual Rent 7781 Total Num Buildings 1 Utilities Electricity ConnectedPublicWater Connected Zoning R3a


    Listing information © 2020 My Florida Regional MLS DBA Stellar MLS..
    Listing provided courtesy of Graystone Real Estate.



    © 2020 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2020-11-23T23:40:28.723.
     
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