| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 28th | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1120 33rd Ave W, Bradenton, FL, 34205, US |
| Region / Metro | Bradenton |
| Year of Construction | 1985 |
| Units | 66 |
| Transaction Date | 2012-03-18 |
| Transaction Price | $4,936,000 |
| Buyer | AVIV RE Trust |
| Seller | Langdon Hall Land, LLC |
1120 33rd Ave W Bradenton Multifamily Investment Opportunity
Positioned in an inner-suburb pocket with strong daily-needs access, this 66-unit asset benefits from a growing household base in the surrounding 3-mile area, according to WDSuite s CRE market data.
The immediate neighborhood offers convenient access to essentials: grocery and pharmacy density ranks competitively within the North Port Sarasota Bradenton metro, while restaurants are plentiful. Parks, cafes, and childcare are limited locally, so demand is supported more by daily-needs proximity than lifestyle amenities. These dynamics tend to favor workforce housing that prioritizes errands and commutes over leisure-oriented draws.
Neighborhood housing stock skews older (average vintage 1978), while the subject was built in 1985. The property s slightly newer vintage can be competitively positioned versus older stock, though investors should still plan for system updates and targeted renovations to capture value-add upside and support leasing velocity.
Renter-occupied share is lower in the immediate neighborhood than in the broader 3-mile area, suggesting a shallower local renter base but deeper demand in the surrounding trade area. At the same time, 3-mile demographics indicate a rise in households and smaller average household sizes over time, expanding the tenant pool and supporting occupancy stability for well-managed assets.
Home values in the neighborhood are comparatively low for the region, which can create some competition from ownership options. For multifamily operators, that typically shifts the playbook toward emphasizing convenience, flexibility, and well-executed finishes to sustain pricing power and retention. Neighborhood NOI per unit trends are competitive among North Port Sarasota Bradenton neighborhoods, and while neighborhood occupancy trails stronger metro submarkets, disciplined leasing and targeted upgrades can help narrow the gap.
Safety indicators in this neighborhood track below metro averages. The area ranks 218 out of 218 metro neighborhoods on crime, placing it among the weaker performers locally and in the lower tiers nationally by percentile. Recent year estimates also indicate that both violent and property offense rates increased year over year.
For underwriting, investors typically account for these factors through security enhancements, proactive property management, and tenant screening to support resident experience and leasing stability, while monitoring trend direction as new data becomes available.
Nearby employers span industrial distribution, financial services, healthcare, and technology, supporting a diverse commuter base that can reinforce renter demand and retention for workforce-oriented properties. The list below reflects proximate anchors that align with typical tenant commute patterns.
- Airgas Store industrial gases distribution (4.8 miles)
- Raymond James Financial financial services (29.1 miles) HQ
- Cardinal Health healthcare distribution (31.2 miles)
- Tech Data technology distribution (31.8 miles) HQ
- Wellcare Health Plans managed healthcare (38.7 miles) HQ
This 66-unit 1985-vintage property sits in a daily-needs corridor where grocery, pharmacy, and restaurant density are strengths for resident convenience. Surrounding 3-mile fundamentals point to an expanding household base and smaller average household sizes, which can enlarge the renter pool and support occupancy, while the asset s vintage offers actionable value-add through common-area upgrades and system modernization. Based on CRE market data from WDSuite, the immediate neighborhood s occupancy and safety metrics trail stronger metro pockets, so execution hinges on careful leasing, expense control, and targeted capex.
Ownership costs appear more accessible nearby, so operators should emphasize convenience, finishes, and professional management to maintain pricing power against for-sale alternatives. Proximity to a diversified employer base within roughly 5 4 miles provides a commuter-driven demand spine that can underpin leasing stability over a longer hold.
- Daily-needs location with strong grocery/pharmacy access supporting resident convenience
- 1985 vintage presents value-add via unit refreshes and system updates for competitive positioning
- 3-mile area shows household growth and smaller household sizes, expanding the tenant base
- Diverse employers within commuting range underpin workforce housing demand
- Risks: below-metro safety and softer neighborhood occupancy require active management and security investment