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Rainbow Lake Apartments 1007 W 57th Ave W 29 Unit Apartment Building $5,600,000 ($193,103/Unit) 6.36% Cap Rate Bradenton, FL 34207
Investment Highlights
- Every Unit has a stackable washer and dryer, patios as well as water views for select units
- Just a short drive from some of Florida’s most beautiful beaches including, Bradenton Beach, Longboat Key and Siesta Key
- Major renovations across the property including brand new roofs as well as exterior paint
- Assumable Loan with a blended rate under 5%
Executive Summary
2008 vintage, townhome-style property. Unit Mix – All two bedroom one and one-half bath room at 967 square feet. Situated just seconds from multiple major retail corridors giving tenants easy access to employment, entertainment, shopping and easy access to the local schools. The fast growing metro of Northport-Bradenton-Sarasota is expected to continue to say strong population growth trends in conjunction with expected per capita incoming to increase 16% through 2027 (Institute of Economic Forecasting - UCF).
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,600,000 | Building Class | C |
| Price Per Unit | $193,103 | Lot Size | 5.85 AC |
| Sale Type | Investment | Building Size | 28,043 SF |
| Cap Rate | 6.36% | Average Occupancy | 100% |
| No. Units | 29 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2008 |
| Property Subtype | Apartment | Parking Ratio | 2.28/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RMF9 - Multifamily | ||
| Price | $5,600,000 |
| Price Per Unit | $193,103 |
| Sale Type | Investment |
| Cap Rate | 6.36% |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.85 AC |
| Building Size | 28,043 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2008 |
| Parking Ratio | 2.28/1,000 SF |
| Zoning | RMF9 - Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Washer/Dryer
- Kitchen
Site Amenities
- Waterfront
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 29 | - | 967 |
1 1
Walk Score®
Very Walkable (72)
Property Taxes
| Parcel Number | 58820-0180-9 | Improvements Assessment | $87,550 (2025) |
| Land Assessment | $0 (2025) | Total Assessment | $87,550 (2025) |
Property Taxes
Parcel Number
58820-0180-9
Land Assessment
$0 (2025)
Improvements Assessment
$87,550 (2025)
Total Assessment
$87,550 (2025)
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Rainbow Lake Apartments | 1007 W 57th Ave W
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