| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 12th | Poor |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1831 13th Ave E, Bradenton, FL, 34208, US |
| Region / Metro | Bradenton |
| Year of Construction | 1975 |
| Units | 100 |
| Transaction Date | 2022-03-09 |
| Transaction Price | $3,446,100 |
| Buyer | EVEREST GARDENS HOLDINGS LLC |
| Seller | OAKMEADE HOLDINGS LLC |
1831 13th Ave E, Bradenton Multifamily Investment
Stabilizing renter demand and a high-cost ownership backdrop in the Bradenton inner-suburb submarket point to durable leasing fundamentals, according to WDSuite’s CRE market data. The 100-unit scale supports operating efficiency while positioning for steady occupancy and measured rent growth.
The property sits in an inner-suburb neighborhood of Bradenton within the North Port–Sarasota–Bradenton metro. Grocery access is a relative strength locally, with the neighborhood ranking 28th among 218 metro neighborhoods and performing in the top quartile nationally for grocery density—helpful for day-to-day livability that supports tenant retention. By contrast, cafés, parks, and pharmacies are limited within the neighborhood bounds, so residents may rely on nearby corridors for those amenities.
Neighborhood housing dynamics show a renter-occupied share near 41% (above the 81st national percentile), indicating a meaningful base of rental households and depth for multifamily demand. The neighborhood’s occupancy rate has been softer recently compared with stronger submarkets, suggesting owners should prioritize leasing execution and tenant retention to sustain performance.
Within a 3-mile radius, population and household counts are expanding. Households increased over the past five years and are projected to grow further alongside a shift toward smaller average household sizes, which typically broadens the renter pool and supports occupancy stability. Median contract rent in the 3-mile area has risen in recent years and is forecast to continue increasing, reinforcing the case for ongoing rent roll management rather than aggressive, speculative pricing.
Ownership remains comparatively expensive relative to incomes in the neighborhood (value-to-income ratio in the 81st national percentile). This high-cost ownership setting tends to sustain reliance on rental housing, supporting leasing depth and potentially improving renewal rates. At the same time, a moderate rent-to-income profile suggests scope to balance pricing with retention strategies.
Safety signals are mixed in context. Metro-relative rankings place the neighborhood around the middle of the pack (ranked 84th among 218 North Port–Sarasota–Bradenton neighborhoods), while national benchmarking points to stronger positioning for property-related offenses (upper-third nationally) and a below-average standing for violent incidents.
Encouragingly, recent trend data indicate double-digit year-over-year declines in both violent and property offense rates, suggesting conditions have been improving. Investors should underwrite with standard risk controls—lighting, access management, and resident screening—while monitoring ongoing trend direction at the neighborhood level.
Proximity to a diverse employment base—including industrial gases, electronics manufacturing services, financial services, healthcare distribution, and IT distribution—supports workforce housing demand and commute convenience for residents.
- Airgas Store — industrial gases (4.8 miles)
- Jabil Circuit — electronics manufacturing services (26.9 miles) — HQ
- Raymond James Financial — financial services (28.5 miles) — HQ
- Cardinal Health — healthcare distribution (29.4 miles)
- Tech Data — IT distribution (31.3 miles) — HQ
This 100-unit property offers scale in an inner-suburb location where renter concentration is elevated and ownership costs are high relative to incomes—factors that generally deepen the tenant base and support leasing stability. Within a 3-mile radius, recent population growth and a notable increase in households point to ongoing renter pool expansion. Neighborhood occupancy has been softer, so near-term performance depends on disciplined leasing and renewal management rather than outsized rent pushes. According to CRE market data from WDSuite, local grocery access is a relative strength, while certain amenities are thinner, reinforcing the importance of on-site convenience and resident services.
Built in 1975, the asset is newer than the neighborhood’s average vintage, which can be a competitive edge versus older stock. Investors should plan for targeted modernization of aging systems and common areas to capture value-add upside and support retention as rents drift upward with market conditions.
- Elevated renter-occupied share and high-cost ownership market bolster multifamily demand depth
- 3-mile radius shows population and household growth, supporting occupancy stability and leasing
- 1975 vintage offers value-add potential through system upgrades and common-area improvements
- Grocery access strength aids daily convenience; thinner café/park options heighten on-site amenity importance
- Risk: neighborhood occupancy trails stronger submarkets; prudent pricing and retention strategy recommended