| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 13th | Poor |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2319 16th Street Ct E, Bradenton, FL, 34208, US |
| Region / Metro | Bradenton |
| Year of Construction | 1981 |
| Units | 40 |
| Transaction Date | 2020-06-29 |
| Transaction Price | $3,048,900 |
| Buyer | FAITH PRESBYTERIAN VILLAGE INC |
| Seller | LAKE EAST ASSOCIATES LTD |
2319 16th Street Ct E Bradenton Multifamily Investment
Neighborhood renter concentration and improving occupancy trends suggest steady tenant demand, according to WDSuite’s CRE market data. Investors can underwrite for durable workforce housing needs with attention to lease management and retention.
Situated in Bradenton’s inner-suburban fabric, the property benefits from a renter-occupied housing base that supports depth of demand for multifamily units. At the neighborhood level, renter concentration indicates a viable tenant pool, while occupancy has moved higher over the past five years, pointing to improving stability for owners focused on cash flow and renewal capture.
The building s 1981 vintage is older than the area s average construction year (measured across the metro s 218 neighborhoods), creating clear value-add and capital planning angles. Exterior/interior upgrades and system modernization can sharpen competitive positioning versus younger stock, particularly for workforce renters prioritizing well-run assets over top-tier amenities.
Local amenities are thin relative to the metro, with limited cafes, groceries, parks, and restaurants nearby; however, pharmacy access ranks comparatively better. That pattern favors properties that provide on-site convenience and services to strengthen retention. Compared with national CRE trends, the neighborhood s amenity density sits below the metro median, yet drive-time access across Manatee County helps bridge daily needs for residents.
Within a 3-mile radius, household counts have grown and are projected to keep rising, supporting a larger tenant base even as average household size trends smaller. Elevated ownership costs in the metro context and rising contract rents reinforce reliance on multifamily housing; operators should balance pricing power with affordability management to sustain occupancy. These dynamics, based on CRE market data from WDSuite, frame a practical path to stable operations with targeted renovations.
Safety indicators are mixed when set against the North Port Sarasota Bradenton metro. The neighborhood s crime ranking sits in the lower tier among 218 metro neighborhoods, signaling that investors should budget for security measures and active property management. Nationally, nonviolent incidents benchmark closer to mid-pack, while violent categories score below average, so the comparative profile is not a standout but can be managed with standard best practices.
Recent one-year trends show increases in estimated incident rates, which underscores the importance of lighting, access control, and resident engagement programs. Owners focused on durable operations can mitigate risk by aligning capital plans with these conditions and by leveraging professional management to support retention.
Nearby employment draws include industrial distribution, electronics manufacturing services, financial services, healthcare distribution, and IT distribution, which collectively support renter demand through a broad commuter base. This mix is represented by Airgas Store, Jabil Circuit, Raymond James Financial, Cardinal Health, and Tech Data.
- Airgas Store industrial gases & supplies (4.2 miles)
- Jabil Circuit electronics manufacturing services (27.5 miles) HQ
- Raymond James Financial financial services (29.1 miles) HQ
- Cardinal Health healthcare distribution (30.1 miles)
- Tech Data IT distribution (31.9 miles) HQ
This 40-unit property (average unit size ~720 sq. ft.) provides scale for operational efficiency in a renter-oriented pocket of Bradenton. Built in 1981, it is older than the neighborhood s average vintage, creating tangible value-add potential through unit renovations and system upgrades to improve yield and competitiveness. Population and household growth within a 3-mile radius point to a larger tenant base ahead, supporting occupancy stability and renewal capture.
Ownership costs in the metro context skew elevated relative to incomes, which can sustain reliance on rentals; at the same time, rent-to-income levels indicate some affordability pressure, suggesting disciplined lease management. Based on commercial real estate analysis from WDSuite, the area s rising occupancy, meaningful renter concentration, and broad employment access form a pragmatic case for long-term hold with targeted capital execution.
- Renter-oriented location with improving neighborhood occupancy supporting stable tenancy
- 1981 vintage offers clear value-add and system upgrade upside versus newer stock
- Household growth within 3 miles expands the tenant base and supports renewals
- Broad regional employer mix within commuting distance underpins leasing velocity
- Risks: below-metro safety rankings and amenity scarcity require active management and prudent rent setting