************* NEW PRICE / Reduced by $72,000 - 8.04% Year 1 Cap Rate ************
SHADY OAKS consists of 9- 1Bdr 1Bath and 1- 2Bdr 1Bath units. The property consists of an 8-unit building built in 1973 with concrete block construction with pitched roofs, as well as a single-family home converted to a duplex. Shady Oaks is located just South of Downtown Bradenton in the heart of the "Village of the Arts" district, an eclectic live-work community featuring art galleries, specialty shops, restaurants, and health & wellness studios. The charming neighborhood is known for its colorfully restored 1920's bungalows and has been targeted by the city as an area to focus on further economic development.
SANDOLLAR consists of 2- 1Bdr 1Bath and 4- 2Bdr 1Bath units. The property was built in 1926 of wood frame construction with pitched roofs, and has recently been inspected and approved by a professional engineer for structural soundness. Located about 2 miles West of Downtown, Sandollar is just 2 blocks from the Manatee River and 4 blocks North of Manatee Ave W, the main thoroughfare with 40,000 AADT and a multitude of retail destinations including Publix (0.7 mi) & Starbucks (1.3 mi).
The SHADY OAKS & SANDOLLAR portfolio offers the investor the opportunity to acquire two well-located properties with significant value-add potential through effective management. Rents are significantly below market and all tenants are on month-to-month leases, allowing the investor to access significant rent growth on takeover.
