813-521-6349
1007 W 57th Ave W, Bradenton, FL for Sale
Apartments - FOR SALE
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1007 W 57th Ave W
Bradenton, FL 34207


HIGHLIGHTS

  • 2008-vintage concrete block build means lower maintenance, smaller reserves, and favorable Florida insurance, keeping owner costs predictable.
  • Boosting water/sewer reimbursements, adding a $5 pest fee, and $30 pet rent lift Other Income from $16,867 to $27,796 with no capital outlay.
  • New roofs and exterior paint are done across all four buildings, leaving strong physical condition with minimal near-term capex.
  • All 29 uniform 967 SF, 2-bed/1.5-bath townhomes have in-unit washer/dryer, drawing broad demand and premium rents with simple operations.
  • Assumable in-place debt at a below-market 5.19% blended rate cuts equity at closing and boosts leveraged returns from day one.
  • At 96.6% occupancy, 28 of 29 units are leased on the Aug 2026 rent roll, with no concessions and immediate income at takeover.

OVERVIEW

CBRE is pleased to present Rainbow Lake Apartments, a 2008-built, 29-unit townhome-style community at 1007-1077 57th Avenue West in Bradenton, offering investors a modern, low-density asset with durable concrete block construction and assumable below-market financing. Completed in 2008, Rainbow Lake is one of the newer communities in its submarket. The property comprises four two-story, concrete block buildings on 8.01 acres overlooking a private lake, with composition shingle roofs and central HVAC throughout. At just 29 units, the community offers unusually low density, with ample parking and open space. Every home is a spacious two-bedroom, 1.5-bath townhouse of 967 square feet, and each includes in-unit laundry, a private patio and, in select homes, water views. The newer vintage means lower maintenance, modern building systems and favorable treatment in Florida's insurance environment, giving a new owner a stabilized, fully occupied asset with limited near-term capital needs. Rainbow Lake sits just off 14th Street West, which carries more than 45,000 vehicles per day, minutes from the retail corridor anchored by Publix, Target, Winn-Dixie and Lowe's. The State College of Florida Bradenton campus is less than two miles away, with IMG Academy, the Sarasota-Bradenton airport and two major hospitals a short drive beyond. A deep base of healthcare, education and service employment supports rental demand across the North Port-Bradenton-Sarasota metro of more than 900,000 residents. Manatee County ranks among Florida's fastest-growing, up roughly 48% since 2010 and projected to approach 517,000 residents by 2030. With its 2008 vintage, durable concrete block construction, low-density design, assumable below-market financing and position in one of the region's most resilient workforce-housing submarkets, Rainbow Lake Apartments represents a compelling opportunity for investors seeking a modern asset with stable cash flow and limited near-term capital needs.

FOR SALE DETAILS

PRICE

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# OF UNITS

29

CAP RATE

Request Cap Rate

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rainbow Lake Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2008

PARKING SPACES

64

LAND DETAILS

LAND ACRES

8.01 AC

LAND SF

348,916 SF

ZONING

RMF9

APN/PARCEL ID

58820-0180-9

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813-521-6349

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813-521-6349

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