6-Income producing Units in Multifamily Village in Palmetto, FL
8.7% cap rate on takeover
9+% cap rate end of Year one after RE Tax reassessments & increased insurance costs
Roofs replaced in 2020
Ownership will consider seller financing with reasonable terms to be determined.
This is a non-conforming asset.
Long term tenants and loyal rental base
Property appraiser site shows 4 units on property card.
Ownership pays utilities and the costs are passed through based on gross leases. (see rent roll and takeover income)
Per ownership, minimal improvements suggested at this time. Most of the heavy lifting has been completed.
Location Summary
Less than 1/2 mile to Interstate 275 and less than one (1) mile to Walmart Super center and other notable amenities such as;
Lincoln Park & Splash Pad
Aldi Grocery
Bradenton Convention Center
Palmetto Estuary Nature Preserve & Park
Manatee Memorial Hospital
Riverwalk
Caddy's Bradenton
Mattison's Grille
