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.