14 Units Multifamily New Construction in Miami,

Usa / Florida / Miami

Description

14 Unit Apartment Building Offered at $4,500,000 at a 5.1% Cap Rate in Miami, FL

INVESTMENT HIGHLIGHTS

  • Located in an Opportunity Zone
  • Impact Windows and Doors
  • Ideal for 1031 Exchange
  • Brand New Construction
  • Two Level Parking Garage
  • Fiber-Optic Cable Throughout

EXECUTIVE SUMMARY

Brand new 15-unit building located in the heart of the City of Miami. The asset is located in an Opportunity Zone and consists of eleven 2bed/2bath units, two 3 bed/2 bath units, one studio, and commercial space on the first level, fronting Flagler Street. The property was built in 2019 and no expense was spared. The spacious units have central a/c, hurricane impact windows and doors, tile flooring, stainless steel appliances (Whirlpool brand), washers and dryers inside the units (Whirlpool brand), islands in the kitchens, granite countertops and much more. The building has a two-level covered parking garage with assigned parking and fiber-optic cables throughout. This property offers great upside potential. Please contact us today for Offering Memorandum.

PROPERTY FACTS

FINANCIAL SUMMARY (ACTUAL – 2019)

ANNUAL ANNUAL PER SFGross Rental Income$320,100$8.53

Other IncomeVacancy Loss$6,402$0.17

Effective Gross Income$313,698$8.36Taxes$60,000$1.60

Operating Expenses$24,400$0.65Total Expenses$84,400$2.25

Net Operating Income$229,298$6.11

 

Property Overview

Price$ 4,500,000
ID18
TypeCommercial
Sold No
Contract Sale
StatusAvailable
Home area37545 sqft
MaterialBlock, Brick

Position

Amenities

  • Air conditioning
  • Balcony
  • Bedding
  • Cable TV
  • Cleaning after exit
  • Cofee pot
  • Computer
  • Cot
  • Dishwasher
  • DVD
  • Fan
  • Fridge
  • Grill
  • Hairdryer
  • Heating
  • Hi-fi
  • Internet
  • Iron
  • Juicer
  • Lift

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