| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Poor |
| Demographics | 52nd | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2305 60th Ave W, Bradenton, FL, 34207, US |
| Region / Metro | Bradenton |
| Year of Construction | 1973 |
| Units | 27 |
| Transaction Date | 2011-08-05 |
| Transaction Price | $582,500 |
| Buyer | GOLDMAN NEWCO I-A LLC |
| Seller | MORTON APARTMENTS LLC |
2305 60th Ave W Bradenton Multifamily Opportunity
Amenity access and a strengthening 3-mile renter pool suggest steady leasing potential, according to WDSuite’s commercial real estate analysis, while operations should account for variability across nearby submarkets.
Located in Bradenton’s inner suburb, the property benefits from everyday convenience: the neighborhood is competitive among 218 North Port–Sarasota–Bradenton neighborhoods for café and grocery density and ranks in the top quartile nationally for those categories. By contrast, parks and pharmacies are less concentrated, so residents may rely on nearby corridors for those services.
The 1973 construction year signals a mid‑vintage asset relative to local stock (which skews late‑1960s). Investors should underwrite targeted capital improvements and value‑add upgrades to remain competitive against newer supply while leveraging a lower basis than recent deliveries.
Renter-occupied housing represents a meaningful share of units and sits above the metro median (ranked 44 of 218), supporting depth of tenant demand and renewal potential. Neighborhood occupancy ranks weaker (188 of 218), so proactive leasing, renewals, and turn timing will be important to sustain performance.
Within a 3‑mile radius, households have increased and are projected to expand further as average household size trends lower, implying a larger tenant base and more one- to two-person households. Median contract rents remain relatively accessible versus incomes, which can support retention and pricing discipline; these patterns align with WDSuite’s multifamily property research.
Home values in the immediate neighborhood are lower than national medians, which can introduce some competition from entry‑level ownership. Even so, convenient retail and services nearby help reinforce renter reliance on multifamily housing and can aid leasing stability.
Safety metrics trail many peers in the North Port–Sarasota–Bradenton metro, with the neighborhood ranking near the lower end among 218 neighborhoods. Relative to neighborhoods nationwide, indicators are below the national median, suggesting investors should plan for lighting, access controls, and resident‑experience measures to support comfort and retention.
Conditions vary by corridor and over time; prudent underwriting should use recent trend data and align staffing and technology to mitigate risk without overcapitalizing.
Nearby employers span industrial supplies, electronics manufacturing, financial services, healthcare distribution, and IT distribution — a diverse commuter base that can support leasing and retention.
- Airgas Store — industrial gases and supplies (4.1 miles)
- Jabil Circuit — electronics manufacturing (30.0 miles) — HQ
- Raymond James Financial — financial services (31.5 miles) — HQ
- Cardinal Health — healthcare distribution (33.9 miles)
- Tech Data — IT distribution (34.1 miles) — HQ
This 27‑unit, 1973‑vintage asset offers a cost‑efficient alternative to newer stock, supported by daily‑needs convenience that underpins renter appeal. Within 3 miles, household growth and smaller projected household sizes indicate a larger tenant base, while relatively accessible rents versus incomes can support renewal rates and occupancy stability. Based on CRE market data from WDSuite, renter concentration is above the metro median, though neighborhood‑level occupancy is weaker than many peers, reinforcing the importance of active leasing and renewal management.
Given its vintage, targeted upgrades to interiors and building systems can unlock value‑add potential and sharpen competitive positioning. Safety metrics lag metro and national medians, so right‑sized security planning and resident‑experience investment should be part of the operating thesis.
- Household expansion within 3 miles and smaller household sizes support a broader renter base
- Amenity convenience and diverse regional employers reinforce leasing and retention
- 1973 vintage presents value‑add upside through systems and finish upgrades
- Relatively accessible rents versus incomes support pricing discipline and renewals
- Risks: below‑median neighborhood occupancy and safety require proactive operations and capex planning