Description

Under contract-accepting backup offers. Welcome to this Income-Producing Motel / Multifamily Investment!!Rare opportunity to acquire a licensed motel operating as long-term residential rentals in the heart of Bradenton. The property consists of 11 total units - 10 studio units and one 1-bedroom/1-bath unit - and is currently fully occupied, providing immediate cash flow from day one.Eight of the 11 units have already been remodeled, leaving additional value-add potential through renovation of the remaining units and continued rent optimization.The property generated approximately $153,000 in revenue over the prior 12 months, with a stabilized NOI of approximately $119,893. Detailed financials, rent roll, and supporting documentation are available to qualified, pre-approved buyers.What truly separates this property is the future development potential. Current zoning allows for up to 20 additional units, providing a new owner with a significant opportunity to expand the existing operation and increase the property's income potential, subject to applicable governmental approvals and development requirements.Major improvements include a roof replacement in 2019 and an electrical panel update in 2017.This is an opportunity to acquire an already-performing, fully occupied asset with existing cash flow, remaining renovation upside, and substantial expansion potential in Bradenton.Serious inquiries only. Proof of funds or financing pre-approval required prior to release of detailed financials. Please do not disturb tenants.