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407 62nd St W

6 Unit Block of Flats £1,400,475 (£233,412/Unit) 7.39% Net Initial Yield Bradenton, FL 34209

Investment Highlights

  • Multi-Family Property with Long Term Tenants or Convert to Short Term Rentals near the Beach!

Executive Summary

PLEASE DO NOT DISTURB THE TENANTS, CONTACT DENISE GOBIN AT 954.553.1089 FOR INFORMATION!
Highly profitable and extremely well-maintained multi-family income property located right off Manatee Ave West! The property is located in a very desirable area within walking distance of shops, restaurants, bus lines, and close to the Gulf Beaches. This (2) building, (6) unit apartment complex with a courtyard and private parking lot is an amazing opportunity for any investor ready to make a long-term profit instantly! Each unit is an 1100 Sq Ft, 2BR/2BA apartment with a screened in lanai and separate washer/dryer hook-up. All units are occupied and conterminously leased with several tenants who have been leasing for 10+ years. Significant improvements have been made over the last few years, the property has had both roofs replaced, a new fence, and almost all units have been renovated with new paint, new carpet, tile, fixtures, etc. In maintaining the property, we have provided all preventative maintenance, maintenance as needed, and ongoing improvements. This is a great property in an outstanding location with tenants that are long-term and reliable. The extreme rental supply shortage, coupled with the desirability of this property, is a fantastic opportunity! Block construction/shingle roofs. Individual metered for water and electricity. No Cast Iron Pipes. This positive cash flow investment, from day one of ownership, will sell quickly. As a "must-see" income property that rarely comes along! Sold "as is" with the right to inspect.
One block off Manatee Ave. west, near shopping/medical/bus routes.

Property Facts

Price £1,400,475
Price Per Unit £233,412
Sale Type Investment
Net Initial Yield 7.39%
Sale Conditions Portfolio Sale
No. Units 6
Property Type Residential
Property Subtype
Apartment
  • Multifamily Manufactured Housing Mobile Home Park
  • Multifamily Dormitory
Apartment Style Low Rise
Building Class C
Lot Size 0.23 AC
Building Size 9,648 SF
Average Occupancy 100%
Number of Floors 1
Year Built 1969
Parking Ratio 1.45/1,000 SF

Unit Amenities

  • Air Conditioning
  • Washer/Dryer Hookup
  • Yard
  • Patio

Site Amenities

  • Courtyard

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+2 6 - 1,096
Walk Score ®
Very Walkable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
37544-0000-4
Land Assessment
£132,872
Improvements Assessment
£625,876
Total Assessment
£758,748

zoning

Zoning Code RSF4.5 (Residential Multi-Family)
RSF4.5 (Residential Multi-Family)
  • Listing ID: 31493110

  • Date on Market: 12/04/2024

  • Last Updated:

  • Address: 407 62nd St W, Bradenton, FL 34209

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