| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 42nd | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 304 57th Avenue Dr E, Bradenton, FL, 34203, US |
| Region / Metro | Bradenton |
| Year of Construction | 1983 |
| Units | 49 |
| Transaction Date | 2019-03-20 |
| Transaction Price | $5,450,000 |
| Buyer | ATLANTIC TOWNHOMES LLC |
| Seller | LEGACY TOWNHOMES LLC |
304 57th Avenue Dr E Bradenton Value-Add Multifamily
Neighborhood renter demand is supported by a sizable 3-mile tenant base and daily-needs amenities, while occupancy trends warrant careful underwriting, according to WDSuite’s CRE market data.
Situated in Bradenton’s inner suburb context of the North Port–Sarasota–Bradenton metro, the area balances everyday convenience with workforce housing dynamics. Amenity access is competitive among North Port–Sarasota–Bradenton neighborhoods (ranked 43 out of 218), with especially strong pharmacy density (ranked 1 out of 218) and solid coverage for groceries and restaurants. Cafes also rank in the metro’s top quartile (19 out of 218). Park access is limited, and childcare options are sparse, which investors should factor into resident profile and marketing strategies.
The neighborhood’s average construction year skews older than the subject’s 1983 vintage (area average 1977), giving this property a relative edge versus older stock while still presenting typical 1980s systems considerations for capital planning and potential value-add upgrades.
Within a 3-mile radius, demographics show a broad mix of age cohorts and a renter-occupied housing share that supports a meaningful tenant base. Households increased over the last five years and are projected to expand further by 2028, even as average household size trends down — conditions that can translate into incremental multifamily demand and support for occupancy stability. These statistics are aggregated within a 3-mile radius.
At the neighborhood level, occupancy performance ranks below the metro median (184 out of 218), so lease-up and retention strategies should be underwritten with conservative assumptions. Ownership costs in the immediate area are relatively accessible in a national context, which can create some competition with entry-level ownership; however, that same landscape can also support renter retention for residents prioritizing flexibility and location convenience.
Safety indicators for the neighborhood track below both metro and national averages. The area ranks 211 out of 218 metro neighborhoods on crime, positioning it well below the metro median. Nationally, the neighborhood sits in a lower safety percentile, indicating comparatively higher reported incidents than many U.S. neighborhoods.
Recent data also point to a year-over-year uptick in both violent and property offenses. For investors, this suggests the importance of enhanced onsite measures (lighting, access control) and resident engagement, as well as conservative underwriting for turnover and operating expenses. Trends should be monitored over time rather than inferred from a single year.
Regional employers within commuting range help support renter demand and leasing stability, with nearby industrial and corporate services represented by Airgas, Jabil Circuit, Raymond James Financial, Cardinal Health, and Tech Data.
- Airgas Store — industrial gases & supplies (2.7 miles)
- Jabil Circuit — electronics manufacturing (29.6 miles)
- Raymond James Financial — financial services (31.5 miles) — HQ
- Cardinal Health — healthcare distribution (33.0 miles)
- Tech Data — technology distribution (34.1 miles) — HQ
This 49-unit, 1983-vintage asset offers scale in a location with strong daily-needs access and a 3-mile renter base that has grown alongside household counts. Relative to older neighborhood stock, the vintage supports competitive positioning, with potential to capture value through targeted renovations and system upgrades. According to WDSuite’s multifamily property research, neighborhood occupancy ranks below the metro median, so conservative lease-up and renewal assumptions are prudent, but the combination of pharmacy, grocery, and restaurant density can aid resident retention.
Demographic trends within 3 miles point to steady household growth and a broad age mix, which can expand the tenant pool over time. Ownership remains relatively accessible locally, which may create competition at the margin; effective pricing, amenity upgrades, and professional management can help sustain leasing performance while navigating affordability pressure and operating costs.
- 1983 vintage positioned ahead of older neighborhood stock, with clear value-add and CapEx pathways
- Strong daily-needs access (pharmacies, groceries, restaurants) that supports retention and leasing velocity
- 3-mile household growth and renter base provide depth for demand and occupancy stability
- Underwriting consideration: neighborhood occupancy ranks below metro median; focus on leasing and renewal execution
- Risk management: safety metrics below metro averages and accessible ownership options may pressure pricing power