Ground Lease Apartment Complex For Sale in Bradenton, FL

Ground Lease Apartment Complex For Sale

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Ground Lease 230+ Unit Apartment Complex

Ground Lease 230+ Unit Apartment Complex

4300 18th st W, Bradenton, FL 34205

Price:Price Not Disclosed
No. Units:230+
Building Size:206,000 SF
Property Type:Multifamily
Property Sub-type:Garden/Low-Rise
Property Use Type:Investment
Commission Split:1%
Cap Rate:8.25%
Occupancy:88%
No. Stories:3
Property on Ground Lease?:Yes
Year Built:1971
Lot Size:7.95 AC

Highlights
11 Buildings
300+ Parking Spaces
Apartments have central A/C and heat
Roofs were replaced approx 7-8 years ago
Ground Lease in place has approximately 45 years remaining

Description
230+ Unit apartment complex in eleven(11)-3 story buildings situated on 7.95+/- acres of land. Property has a separate building for rental office in addition to 2 laundries and a swimming pool. Concrete block construction with asphalt shingle pitched roofs constructed in 1977 and well maintained. The unit mix is 96: 1BR/1BA; 84: 2BR/1BA and 54: 2BR/2BA A total of 187,000 sf of living space. Property contains 300 parking spaces. Apartments feature central air and heat, spacious living rooms and bedrooms, fully equipped kitchens with GE appliances, baths are ceramic tiled, rooms feature wall to wall carpeting. Most apartments overlook a courtyard or pool. Each building has elevators as well as standard stairs.

Belmont Park has a great location, right in the middle of where people want to be. Within walking distance you will find, major shopping centers, financial institutions and any number of desirable restaurants. Beautiful beaches are only ten minutes away and the Sarasota-Bradenton airport is just seven miles south of the complex which is just off of Cortez Road four blocks west of US-41

http://www.loopnet.com/lid/17983638

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