• Unique Asset in Desired Area
• Value-Add Opportunity
• Close to Downtown Bradenton
• Exquisite Building – Vacancies are filled quick
• Location close to Waterfront, Downtown & Parks

• Wares Creek neighborhood is highly desired
• Close to Waterfront, Downtown, Old Main St
• Within 1.5 miles of Manatee Memorial Hospital
• Within 1 mile of Pier 22, Oak & Stone, O’Bricks

Wares Creek is a 6-unit, 1920’s vintage, two-story garden multifamily building located Bradenton, FL, just ½-mile West from downtown Bradenton in the Ware’s Creek neighborhood. Built in 1925, the property consists of a two-story building that was built with concrete block and built-up tar and gravel roof. Five Units are One bedroom/one-bath averaging 585 square feet and a single studio unit. The property features a semi-private craftsman style porch and breezeway access, with individual air-conditioners, upgraded hard surface flooring, paint, kitchens, and bathrooms in the units. Community amenities include both private and off-street parking, barbeque areas, a large front and back yards, and potential on-site laundry facilities (previously existed in the basement).

The property is just ½-mile from downtown Bradenton in the Ware’s Creek neighborhood and enjoys convenient access to employment centers, shopping, schools, parks, and public transportation. Manatee County, according to the US Census Bureau, was the fourth fastest-growing in Florida from 2010 to 2019 with a 24.9% growth rate. The employment percentage increased 2.5% from 2018-2019 in Manatee County which places it well above the majority of counties in Florida. It’s also a tourism hotspot and hundreds of thousands of guests come to visit the beaches of Holmes Beach, Anna Maria, Bradenton Beach, Longboat Key, and others each year. Over the past three years, the local economy has expanded the employment base by an annual growth rate of two percent contributing to a strong apartment market which is currently over 97 percent occupied as a whole; making it one of the most healthy markets in the state. Landlords have significant pricing power and have sustained annual rent growth of between three and seven percent for 12 consecutive quarters. The current owner of Ware’s Creek has recently signed new leases at $900 per month with no problem. If this trend continues the property will be performing at much stronger yields and returns within 12 months.

Wares Creek 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 continuing to renovate and enhance interiors, upgrading the curb appeal and amenities allowing to increase rents to market, enabling them to capture the upside which is currently north of $75-$125 per unit.

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