The Do-Ray Villas present a rare opportunity to acquire a 100% occupied multifamily complex located in the Palma Sola submarket of Bradenton in Manatee County, Florida.  The property is  situated on 0.41 +/- acres and consists of one, two-story building with four two bedroom/one bath units & four studio units. The building is 1970’s concrete block construction with a pitched shingle roof and has little to no deferred maintenance.

Tenants have access to ample off-street parking and in-unit washer/dryer hookups in larger units. Residents are convenienced by the ease of access to major interstates and beaches which provides easy access to an abundance of jobs and entertainment.

Do-Ray Villas allows an investor to purchase a completely occupied building in a phenomenal location with immediate and long-term upside. Once into the deal, we estimate roughly $9,000 in renovation costs to achieve the projected $825 and $1,100 rents. By year one, the new owner will have a turn-key asset producing at a 7.34% cap rate and north of 8% by year four.

Do-Ray Villas is a well-maintained asset with a strong rental history in a superb location.   A new owner will have the ability to update the property by renovating interiors, enhancing the curb appeal and amenities allowing  to increase rents to market, enabling them to capture the upside which is currently north of $123 per unit per month average.

  • Turn-Key Asset
  • Value-Add Opportunity
  • Trophy Property in Private Neighborhood
  • Highly Desirable Unit Mix
  • Close to Shopping, Beaches, Grocery, etc
  • Ten Minutes to Bradenton Beach
  • Located just South of SR 64 (Cortez); Allowing for Direct Access to I-75 and US 41/301
  • Less than two-miles from GT Bray Park/Community Center
  • Two-miles from Manatee County Golf & Pinebrook Ironwood CC

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