Thomasville Apartments

Property feature image
Property gallery image
Address: 406 11th St W, Palmetto, FL 34221, USA
Created date: April 26, 2024
Date last updated: April 26, 2024
  • Exceptional Value-Add Opportunity w/ Rental Upside Over $350/Month/Unit
  • Water/Sewer, Trash & Electric All Separately Metered & Paid by Tenants Directly to Utility Provider
  • Built, Owned & Managed by the Same Owner Since Inception
  • Dependable Unit Mix of 100% Two Bed / One Bath Units with 2 Similar Floorplans
  • Consists of 63-Units in 29 Buildings on 1 Parcel Totaling 3.48 Acres
  • Non-Flood Zone Location (Zone X) and Within 5-Minutes of the Waterfront
  • Superior Concrete Block Construction w/ Masonry Exterior & Interior Walls
  • Abundant Area on the Parcel to Add Common Area Community Amenities
  • Within Mins. of the Marina, Walmart Supercenter & Publix & Aldi Supermarket
  • 3-Mins from the Bradenton Area Convention Center Undergoing $48M Renovation / Expansion
  • 3-Mins from Future 252-Room Premium Upscale Marriot Hotel (Part of Convention Center Dev.)
  • 6-Mins from Manatee Memorial, a 295-Bed Hospital w/ Over 80 Physicians, Residents & Health Professionals
  • 10-Mins from the Sunshine Skyway Bridge, Interstate 75, Ellenton Ice Complex & Ellenton Premium Outlets
  • 19-Mins from Anna Maria Island, Holmes Beach & Sarasota International Airport (SRQ)

Property Description

The Multifamily Firm is pleased to present the Thomasville Apartments, a rare 63-unit apartment complex that is one of the only multifamily assets in the region to be built, owned, and managed by the same owner since inception. Constructed in 3 phases from 1971-1982, the asset consists of 29 masonry buildings on 1 parcel totaling 3.48 acres and features 100% Two Bedroom / One Bathroom units, with all utilities separately metered / paid by tenants direct to the utility provider.  

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $7,800,000
No. of Units: 63
Cap Rate: 6.73%
Year Built: 1977
Building Size: 38,784 Sq ft
Lot Size: 3.48 Sq ft
No. of Stories: 1
Opportunity Zone: No
Price per unit: $123,810
Property Website Click Here
Address: 406 11th St W, Palmetto, FL 34221, USA

Similar Properties in the Area

1916 SW 11th St

Fort Lauderdale , Florida
Florida & Gulf Coast + Apartment Buildings
Units: 24
Price: $6,700,000

6065 Bay Avenue Southeast

Highland City , Florida
Florida & Gulf Coast + Apartment Buildings
Units: 13
Price: $1,125,000

198 Club Dr Drive

Cape San Blas , Florida
Florida & Gulf Coast + Apartment Buildings
Price: $625,000
popup background image