2405 10th Street W, Bradenton, FL 34205
- $1,325,000
- 2,832
- SqFt
- List Price
- $1,325,000
- Status
- Active
- Days on Market
- 0
- MLS#
- A4707366
- Property Style
- Hotel/Motel
- Year Built
- 1980
- Living Area
- 2,832
- Lot Size
- 16,000
- Acres
- 0.37
- Total Acreage
- 1/4 to less than 1/2
- Legal Subdivision Name
- Edgewood 3rd Add
- MLS Area Major
- Bradenton
Property Description
Welcome to this Income-Producing Motel / Multifamily Investment!! Rare opportunity to acquire a licensed motel operating as long-term residential rentals in the heart of Bradenton. The property consists of 11 total units — 10 studio units and one 1-bedroom/1-bath unit — and is currently fully occupied, providing immediate cash flow from day one. Eight of the 11 units have already been remodeled, leaving additional value-add potential through renovation of the remaining units and continued rent optimization. The property generated approximately $153,000 in revenue over the prior 12 months, with a stabilized NOI of approximately $119,893. Detailed financials, rent roll, and supporting documentation are available to qualified, pre-approved buyers. What truly separates this property is the future development potential. Current zoning allows for up to 20 additional units, providing a new owner with a significant opportunity to expand the existing operation and increase the property's income potential, subject to applicable governmental approvals and development requirements. Major improvements include a roof replacement in 2019 and an electrical panel update in 2017. This is an opportunity to acquire an already-performing, fully occupied asset with existing cash flow, remaining renovation upside, and substantial expansion potential in Bradenton. Serious inquiries only. Proof of funds or financing pre-approval required prior to release of detailed financials. Please do not disturb tenants.
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Additional Information
- Taxes Annual
- $3311
- Community Features
- Sidewalks, No Deed Restriction
- Zoning
- C3
- Floor
- Ceramic Tile
- Appliances
- Dishwasher, Microwave, Refrigerator
- Utilities
- Electricity Available, Public
- Heating
- Central
- Air Conditioning
- Central Air, Wall/Window Unit(s)
- Exterior Construction
- Block, Stucco
- Foundation
- Slab
- Pool
- No Pool
- Pets
- Allowed
- Flood Zone Code
- X
- Parcel ID
- 4490800059
- Legal Description
- LOTS 251,252,269,270 & 20 FT SQ IN SW COR OF LOT 271 GILLEY & PATTEN'S KNOWN AS THE THIRD ADD TO EDGEWOOD PI#44908.0005/9
Listing courtesy of MBN REALTY PROFESSIONALS. 941-256-0350
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