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Devon Garbus
  • Real Estate Agent
  • Tampa, FL
57
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467
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Perfect spot to build 4plex in popular Bradenton Florida!

Devon Garbus
  • Real Estate Agent
  • Tampa, FL
Posted Mar 17 2016, 14:30

Great location to build low income housing in eastern Bradenton Florida. Low income development credits may be available for this area. This could be up to $50,000 towards development or waiver of impact fees. Check with the city of bradenton for more details.

Current owner purchased the property as a short sale, previous owner and lender didn't realize the value in the zoning. Unfortunately after purchasing the property the owner's had some personal issues stopping them from developing it themselves.

Plans are available from a local building for two duplex units to fit on the lot with room for side garages/carports as well as a large parking lot. Cost to build should be under $100/ft including impact fees (applying for and receiving a subsidy would help).

There should be no issues with zoning/entitlement. Zoning is relatively open for residential single family, townhomes, or light commercial (vets, BNB, office space etc). Feel free to check with the city during due diligence/ make offers contingent on you receiving approval.

Investing from out of state? My local property manager can help you analyze the rental values, and you can interview the above builder or others I work with.

This neighborhood is steadily improving over the last few years, build cheap now to rent and sell in 3-5 years with great appreciation.

Again: This is a sale of the lot. There is currently a small structure on the property that is not rehabable and needs to be torn down. Owner is willing to consider offers to purchase or JV. Property will hit MLS next Monday so act now.

Offering

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