601 24th St E, Bradenton, FL 34208

Commercial property for lease

• Description
• SBR Commercial is proud to present this excellent opportunity to purchase five fully-occupied rental units located at 601 24th Street East near downtown Bradenton. This investment opportunity is being offered with an in-place yield of over 10% after including management fees and other expenses not currently incurred by the owner. Simply increasing all leases according to the most recent lease rates achieved at the property will allow for a yield in excess of 11%! The attractive price of only $55,000/unit ($85 psf) allows for ample upside for an owner looking for a smaller investment opportunity or to simply add units to their existing portfolio.The property includes five rental units consisting of three 2BR/1BA units and two 1BR/1BA units within two adjacent buildings on a single parcel. All five units are presently occupied, with two tenants having been at the property for over three years. The current owner has replaced a/c units and water heaters as needed and no known maintenance is required today. The property is located just off Manatee Avenue (SR 64) immediately east of Downtown Bradenton. The property allows for easy access to employment bases, US 41, and I-75. It's proximity to downtown and access to numerous east-west and north-south thoroughfares allow the property to attract tenants from a wide area. * Investment offered at a real 10% unlevered yield. Reasonable rental rate increases will generate in excess of 11% return.* At $55,000/unit ($85 psf), investment offers below market investment opportunity with value-add potential.* Five units (3 month-to-month and 2 Annual) are 100% occupied today.* Long-standing tenants with no events of default allow for ease of management.* All maintenance has been performed as needed by owner. There are no known leaks or issues with HVAC or appliances.* Ideally located in close proximity to downtown Bradenton as well as US 41/US 301/I-75 for easy east-west/north-south access to employment and shopping. Building price details: $275,000.
• Contact info
• George William Kruse

  KELLER WILLIAMS REALTY SELECT
  Sean A Dreznin

  KELLER WILLIAMS REALTY SELECT
• Note

• Details Info about this row that located on 601 24th St E, Bradenton, FL 34208 was got from trusty sources, but HousesForSaleList.com can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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