| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 28th | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3223 3rd St W, Bradenton, FL, 34205, US |
| Region / Metro | Bradenton |
| Year of Construction | 1980 |
| Units | 55 |
| Transaction Date | 2006-02-21 |
| Transaction Price | $2,100,000 |
| Buyer | ABC INVETSMENT INC |
| Seller | GARDENWOOD APARTMENTS LLC |
3223 3rd St W Bradenton Multifamily Investment
Steady renter demand is supported by a meaningful renter-occupied housing base and everyday convenience amenities nearby, according to WDSuite’s CRE market data. Focused operations and smart capital planning can position this asset for durable performance within the Bradenton submarket.
The property sits in an inner-suburban Bradenton location with practical livability for workforce renters. Neighborhood amenity access is mixed: grocery and pharmacy density is strong (competitive among North Port–Sarasota–Bradenton neighborhoods, based on ranks out of 218), while parks, cafes, and childcare are limited. For investors, this translates to convenient daily needs that support retention, with fewer lifestyle draws that typically command premium rents.
Renter fundamentals are a core consideration. Within a 3-mile radius, an estimated 42% of housing units are renter-occupied, indicating a sizable tenant pool and depth for leasing. Neighborhood-level occupancy trends are below the metro median (ranked in the lower half among 218 metro neighborhoods), so asset-level execution and leasing management will be important to maintain stability through cycles.
Vintage also matters. Built in 1980, the property is slightly newer than the neighborhood’s average construction vintage (late 1970s). This suggests competitive positioning versus older stock but still points to targeted capital needs over the hold—particularly around systems modernization and selective interior upgrades to drive rentability.
Housing cost context is bifurcated. Elevated rent-to-income at the neighborhood level signals affordability pressure that warrants careful lease management, while relatively accessible ownership costs in the area can create some competition with entry-level homebuying. Taken together, pricing discipline and retention strategies should be part of the business plan to sustain occupancy and limit turnover.
Safety metrics for the immediate neighborhood compare unfavorably to both the metro and national landscape. The area ranks near the bottom among 218 North Port–Sarasota–Bradenton neighborhoods and falls in lower national percentiles for both property and violent offenses, indicating higher reported crime relative to many U.S. neighborhoods. Investors commonly address this with proactive measures such as lighting, access control, and community standards to support tenant satisfaction and leasing performance.
The resident employment base is diversified across distribution, electronics, finance, and healthcare services, supporting renter demand via commute convenience to nearby corporate offices. Notable employers within a drivable radius include Airgas, Jabil Circuit, Raymond James Financial, Cardinal Health, and Tech Data.
- Airgas Store — industrial gases & distribution (4.3 miles)
- Jabil Circuit — electronics manufacturing (27.8 miles) — HQ
- Raymond James Financial — financial services (29.3 miles) — HQ
- Cardinal Health — healthcare distribution (31.1 miles)
- Tech Data — IT distribution (32.0 miles) — HQ
This 55-unit, 1980-vintage asset offers exposure to a sizable renter base in Bradenton with everyday amenity access that supports retention. The location benefits from proximity to diverse employment nodes across distribution, electronics, finance, and healthcare, while the property’s vintage provides a platform for targeted value-add—systems, curb appeal, and selective interiors—to strengthen leasing and rentability over time.
Neighborhood metrics indicate below-metro occupancy and weaker safety statistics, underscoring the importance of disciplined operations, security enhancements, and affordability-aware rent strategy. Even so, the 3-mile radius shows steady household growth with smaller average household sizes and rising incomes, pointing to a gradually expanding renter pool and support for rent levels, based on CRE market data from WDSuite.
- Workforce-friendly location with strong grocery/pharmacy access supporting day-to-day livability and retention
- 1980 vintage offers value-add potential via systems modernization and targeted interior updates
- Diversified nearby employers (distribution, electronics, finance, healthcare) underpin tenant demand
- Expanding 3-mile household base and income growth support leasing and rent durability
- Risks: lower neighborhood occupancy and weaker safety metrics require focused operations, security measures, and pricing discipline