| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Poor |
| Demographics | 52nd | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2203 60th Ave W, Bradenton, FL, 34207, US |
| Region / Metro | Bradenton |
| Year of Construction | 1972 |
| Units | 27 |
| Transaction Date | 2011-08-05 |
| Transaction Price | $582,500 |
| Buyer | MORTON BUILDING 8 LLC |
| Seller | BAYSHORE APARTMENTS OF MANATEE III LIMIT |
2203 60th Ave W Bradenton Multifamily Value-Add
1972 vintage, 27 units near daily-needs retail suggests steady renter interest, while neighborhood occupancy trails metro norms, according to WDSuite’s CRE market data.
Located in an Inner Suburb of Bradenton, the property benefits from strong daily conveniences: neighborhood data show competitive access to grocery stores and cafes relative to the metro, supporting resident retention and leasing velocity. Parks and pharmacies are less prevalent locally, so on-site amenities and service coordination may matter more for tenant satisfaction.
Neighborhood rating is C and the area ranks below the metro median on overall performance among 218 North Port–Sarasota–Bradenton neighborhoods, indicating mixed fundamentals rather than a clear strength or weakness. Local occupancy is also below the metro median, so property-level asset management and leasing strategy will be important to sustain stability versus market conditions referenced for the neighborhood.
Within a 3-mile radius, households grew in recent years and are projected to expand further even as average household size trends smaller. This points to a broader tenant base over time and supports multifamily demand. Renter-occupied units account for an estimated mid-30s share within the 3-mile area, indicating a moderate renter concentration that provides depth for leasing without over-reliance on transient demand during softer periods.
Ownership costs in the neighborhood context are elevated relative to local incomes, which can reinforce reliance on multifamily rentals and support renewal rates. Median contract rents in the 3-mile radius have risen and are projected to continue increasing; investors should monitor affordability pressure and manage lease-up and renewal cadence accordingly. These directional insights are based on commercial real estate analysis from WDSuite and reflect neighborhood-level performance, not property operations.
Compared with other parts of the North Port–Sarasota–Bradenton metro, the neighborhood ranks 217 out of 218 for crime, indicating higher reported incidents than most metro neighborhoods. Nationally, safety metrics benchmark in lower percentiles, placing the area below the national median on comparative safety.
For investors, this suggests prudent budgeting for lighting, access control, and community management to support tenant retention and operational consistency. Safety conditions vary by block and over time; monitoring local trends and coordinating with residents and nearby operators can help maintain occupancy stability and reduce turnover risk.
The area draws on a diverse employment base spanning industrial supplies, electronics manufacturing, financial services, and healthcare/tech distribution—supporting workforce housing demand and commute convenience for residents at this address.
- Airgas Store — industrial gases & supplies (4.0 miles)
- Jabil Circuit — electronics manufacturing (29.6 miles)
- Jabil Circuit — electronics manufacturing (30.0 miles) — HQ
- Raymond James Financial — financial services (31.5 miles) — HQ
- Cardinal Health — healthcare distribution (33.8 miles)
This 27-unit, 1972-vintage asset offers potential value-add upside through targeted renovations and system upgrades typical for its era, which can sharpen competitiveness against older nearby stock. Daily-needs retail and a broad employment base within commuting distance support renter demand even as the immediate neighborhood’s occupancy benchmarks below metro medians. Based on CRE market data from WDSuite, households within a 3-mile radius have expanded and are projected to grow further as household sizes trend smaller—an indicator of a widening tenant pool that can support leasing and renewal performance.
Affordability will be a key operating consideration: rents in the surrounding area have trended upward and are expected to continue rising, while ownership costs relative to incomes suggest sustained reliance on rentals. Combined with moderate renter concentration in the 3-mile radius, this positioning can support occupancy stability if management pairs interior updates with disciplined lease management and resident services.
- 1972 vintage supports value-add through unit/interior refreshes and building system upgrades
- Daily-needs retail and diverse employer base underpin consistent renter demand
- 3-mile household growth and smaller household sizes point to a broader tenant pool
- Pricing power possible with careful affordability monitoring and renewal management
- Risks: below-metro neighborhood occupancy and weaker safety benchmarks may require enhanced security and active leasing