Rainbow Lake Village

1007 57th Ave W,
Bradenton, FL 34207

Dreznin Pappas Commercial Real Estate, LLC

$5,600,000
Price
29
Number of Units
$193,103
Price Per Unit
26,796
Building SF
6.31%
Cap Rate
255,000
Land SF
$5,600,000
Price
29
Number of Units
$193,103
Price Per Unit
26,796
Building SF
6.31%
Cap Rate
255,000
Land SF

Investment Highlights

  • Elevate Your Investment Potential at Rainbow Lake Village! Ownership is quite negotiable on pricing and utilizing the assumable financing in place, this could be the one asset to add to your portfolio.
  • Dive into this exclusive opportunity to own a fee simple interest in Rainbow Lake Village, a thriving 29-unit multifamily community nestled in the heart of Manatee County, Florida.
  • Seize the chance to acquire this gem at an attractive price of $5,595,000, with the added benefit of assuming a first mortgage & note (Fannie Mae) locked in at a competitive rate of approximately 4.1%.
  • Unlock the value of a second assumable mortgage, offered by the same lender, resulting in a blended rate of around 5.2%—a deal that stands out in today's market.
  • Embark on a confidential journey with us to explore Rainbow Lake Village, where discretion is key, and the potential for ROI exists and is based in reality and a stabilizing market.
  • Immerse yourself in the lush surroundings of 29 townhome units spread across 4 buildings built in 2008, each meticulously designed with 2 bedrooms, 1 1/2 bathrooms, and modern amenities.
  • Unleash your investment portfolio with professionally managed interiors, complete with upgraded features and in-unit washer and dryer setups for tenant convenience.
  • Discover the untapped potential of adding pet-friendly policies, offering a lucrative upside of approximately $75 to $200 per unit, while enhancing tenant satisfaction with a future dedicated dog recreation area or fabric covered carports.
  • Embrace the serene views of Rainbow Lake from select units, complemented by privacy-enhancing PVC fencing and potential future revenue streams through covered parking options, laundry warranty program and pet friendly rates. Utilize the 5.7 +/- acres which include littoral rights of Rainbow Lake without any responsibilities to maintain the lake, per ownership.
  • Experience peace of mind with newer construction (2008), recent roof replacements (2025), recent exterior painting (2025), and strategic water management features, ensuring a secure and sustainable investment for years to come.
  • Grasp the moment to capitalize on existing deferred maintenance, as ownership invests in property enhancements, setting the stage for a profitable and rewarding ownership experience at Rainbow Lake Village.

Location Summary

  • Located in the heart of Manatee County, Rainbow Lake Village offers ease of access to a plethora of places and events your future tenants desire. Jobs, grocery, gas, entertainment, restaurants, travel, etc.
  • BRADENTON INTERNATIONAL AIRPORT (SRQ) • The Sarasota-Bradenton International Airport will receive $21.5 million for terminal expansion and baggage improvements • 11 airlines now provide nonstop service to 56 destinations
  • ST.PETE - CLEARWATER INTERNATIONAL AIRPORT • Served over 2.3 million passengers in 2023 and is one of North America’s fastest growing medium sized airports • 2022 Aiport of the Year in the small-medium sized airports category (Transportation Security Administration, 2022-2023)
  • UNIVERSITY OF SOUTH FLORIDA (Sarasota-Manatee Campus) • Over 50,000 students enrolled annually • 15,000+ employees • Ranked among the Top 100 Public Universities • Has a local economic impact of more than $3.7 billion in annual revenue for Tampa
  • State College of Florida (SCF) • Over 8,600 students enrolled • 25:1 student to teacher ratio • SCF is a member of the Association of Florida Colleges and the Southern Association of Colleges and Schools Commission on Colleges.
  • IMG Academy • Over 1,500 students enrolled annually • 17 varsity sports offered • Fully accredited and (NAIS) (NHS) (NJHS)
  • NEW COLLEGE OF FLORIDA • A state university system of Florida’s designated honors college, 800-850 students enrolled annually, 110-acre campus
  • Medical Industry stalwarts nearby • Manatee Memorial Hospital • 300+ Beds • 800+ Doctors, physicians & allied health professionals • Intercoastal Medical Group • 100+ Physicians & health professionals • 10 locations across Bradenton & Sarasota
  • Nearby job providers, restaurants, shopping, etc; • ALDI • Harbor Freight Hardware • AutoNation, Carmax, Honda, Ford & Toyota dealerships • Starbucks • Hooter's, Food+Beer, Acapulco Tropical Market • Crunch Fitness • Target, TJ Maxx
FOR MORE DETAILS CONTACT
Sean Dreznin
DREZNIN PAPPAS CRE, LLC
(941) 961-8199
tritoncre@gmail.com