Address
2406 11TH STREET W Bradenton, FL
Price
$ 975,000
Property Attributes
  • MLS#T3271474
  • TypeIncome
  • CountyMANATEE
  • CityBradenton
  • AreaBradenton
  • NeighborhoodEdgewood 3Rd Add
  • Zip34205
  • StyleMulti-Family
  • Year Built1987
  • Taxes12190
  • Price$ 975,000
  • Bedrooms21
  • Full Bathrooms9
  • Half Bathrooms0
  • Sqr Footage9266
  • Lot Size0.7 Acres
Listing Provided Courtesy Of:
GRAYSTONE REAL ESTATE
Data Source:
Stellar MLS
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.

Price History
10/19/2020 Listed $995,000
3/3/2021 3% - $975,000

General Features

Construction Materials Block, Concrete, Stucco
Cooling Central Air
Exterior Features Lighting, Other, Sidewalk, Storage
Heating Central
Lease Term 12 Months
Levels One
MLS Area 34205 - Bradenton
Other Structures Storage
Parking Features Guest, Off Street, Open, Oversized
Patio/Porch Features Covered, Front Porch, Porch
Property Description Mid Rise
Property SubType Multi-Family
Property Type Residential Income
Roof Metal
Sewer Public Sewer
Special Listing Conditions None
Status Active
Subdiv Community Name Edgewood
Subdivision Name EDGEWOOD 3RD ADD
Terms Cash, Conventional
Total Num Buildings 1
Total Units 9
Township 34S
Utilities Electricity Connected, Public, Water Connected
View Trees/Woods
Year Built 1987
Zoning R3A

Interior Features

Laundry Features Inside, Laundry Room
Living Area 9266.00
Unit Count 2

Exterior Features

Building Area Total 9522.00
Foundation Details Slab
Lot Features Cul-De-Sac, Street Dead-End, Street Paved
Lot Size Acres 0.70
Lot Size Square Feet 30274

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 34205

Price
AVG $580K
$980K
Taxes
AVG $6,020
$12,190
Visits
AVG 228
324
Year Built
AVG 1945
1987
Walkscore
AVG 69
61
Data Provided by Walkscore ® not using MLS data

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