4505 67th St W
Bradenton, FL 34210
Do-Ray Villas · Multifamily Property For Sale · 8 Units

The Do-Ray Villas present a rare opportunity to acquire a 100% occupied multifamily complex. It is located in the Palma Sola submarket of Bradenton in Manatee County, FL situated on .41 acres. The property consists of one, two-story building with four two-bedroom/two bath units, one one-bedroom/one bath & three studio units. The building is 1970's concrete block construction with a pitched single roof (approximately 8 to 10 years of age) and little to no deferred maintenance. Tenants have access to ample off-street parking and in-unit washer/dryer hookups in the larger units. Residents are convenienced by the ease of access to major interstates and beaches which provides easy access to an abundance of jobs and entertainment. Do-Ray Villas allows an investor to purchase a completely occupied building in a desirable location with immediate and long-term upside. Once into the deal, we estimate minimal interior renovations to achieve the projected $825 & $1,100 rents. By Year 1, the new owner will have a turn-key asset producing at a 7.72% cap rate and north of 8% in Year 4. Do-Ray Villas is a well-maintained asset with a strong rental history in a superb location. A new owner will have the ability to update the property by renovating interiors, enhancing the curb appeal and amenities allowing to increase rents to market, enabling them to capture the upside which is currently north of $100 per unit per month average.