We are Proud to Present the Exclusive Sale of Village Park at Rainbow Lake in Bradenton, Florida. Village Park at Rainbow Lake consists of 23 total units, in 6 buildings, on a 2.05 acre parcel of 89,298 Square Feet of Land. The Property is Rock-Solid Masonry Construction, built in 1987, and has the Added Benefit of Solid Masonry Parapet Walls Separating each unit. Village Park at Rainbow Lake are Perfectly Positioned for a Florida Apartment Building, a Private Setting and just a Short Drive to the Beach, IMG Academy, State College of Florida and Downtown. Additionally, the Property sits just South of SR-70, which Features Ease of Access to Numerous Retail Chains, Shopping and Ample Employment Opportunities, Providing a Short Commute to Work, Recreation and Necessities for Tenants!
The Complex has Received the Recent Improvements; Firewalls & Roofs treated with White Seal 12-year Warranty Fiber Waterproof Sealer and Acrylic Elastomer. Numerous Partial Interior Renovations, Fresh Landscaping and Parking Improvements. The Property is Being Sold As-Is.
Favorable Unit Mix of Two Bedroom / Two Bathroom Units; All Equipped with In-Unit Washer/Dryer Hookups
Private Setting with Mature Landscaping and Rock-Solid Masonry Construction Built in 1987 w/ the Added Benefit of Masonry Parapet Walls between each Unit.
Strong Historic Occupancy Rates with a Vacancy Rate Below 5% in Line with the Market and the Property has Been Preliminarily Positioned to Provide a New Owner with the Access to Capitalize on the Existing Upside and Create a Stabilized Asset by Year 1.
Family Owned and Operated for the Past 7 years. The Heirs are Looking to Divest of this Complex and Offer this Opportunity to a New Buyer. With the Transition Current Occupancy is Approx 60% Generating $100,000 Annually. Fixed Expenses Include RE Taxes, Insurance, etc. Current Ownership has held off Renovating and Renting the Units to Allow the Upside for New Seasoned Ownership.
Location Summary
Village Park at Rainbow Lake complex offers a private setting with mature trees and greenspace. Consisting of 2/2 units throughout, this concrete block structure provides an investor with substantial upside and the ability to improve the property over time. Additional features include convenient location to SR-70, US-41, US-301 and access to I-75, Downtown Bradenton, Shopping, Entertainment, Recreation, etc.
Village Park at Rainbow Lake is located approx.
1.5 miles from State College of Florida
2.5 miles from IMG Academy & Campus
4.0 miles from Manatee Memorial Hospital
5.5 miles from Sarasota
7.0 miles from Palma Sola Bay
9.0 miles from Bradenton Beach
