2017 6th Ave W, Bradenton, FL 34205

Commercial property for lease

• Description
• SBR Commercial is proud to present an exclusive offer for the purchase of the Wares Creek Manor near downtown Bradenton. The Property is a unique, six-unit boutique multifamily rental building that has been meticulously renovated by its current owner. In addition to unit renovations, the property has been upgraded with hurricane-impact windows, tankless water heater and updated outdoor space among other items that will benefit a new owner. Wares Creek offers tenants a residential lifestyle in an urban environment. Ideally-sized units allow for efficient operations and leasing to future tenants. Presently, the property is 50% occupied due to renovations which will allow a new owner the ability to capture increased rental revenue from new tenants without the burden of turnover expenses. The attractive price of $56,000/unit ($103 psf) allows for ample upside for an owner looking for a true value-add opportunity. This property will not last long in today's market!Recent renovations/improvements include repaired roof (2017), tankless water heater (2015) and Anderson Impact Windows (2015).Upside potential via renovation of a 6th 1BR unit currently not reflected in the proforma (assumed budget of $50 psf in analysis).Ideally located in close proximity to downtown Bradenton as well as US 41/US 301 for access to downtown Sarasota and barrier islands.At $56,000/unit, investment offers below market investment opportunity with value-add potential.Post-renovation, property has potential for 9%+ yield on full basis.In-fill residential location coupled with downtown proximity offers ideal live-work environment for tenants.Ample parking and common area outdoor space provide lifestyle benefits for future marketing. Building price details: $340,000.
• Contact info
• George William Kruse

  KELLER WILLIAMS REALTY SELECT
  Sean A Dreznin

  KELLER WILLIAMS REALTY SELECT
• Note

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