Description
24 Unit Apartment Building Offered at $4,300,000 at a 7.22% Cap Rate in Miami, FL
INVESTMENT HIGHLIGHTS
- Centrally located within 5 miles of Charles Drew Middle School, Poinciana Elementary School, and Miami Northwestern Senior High School.
- Immediate access to public transportation and the 1-95 Expressway.
- Minutes away from nearby retail options including Williams Food Market, Rush Hour Deli & Grocery, and Walgreens.
EXECUTIVE SUMMARY
FSBO: This 24 units apartment building presented for Sale by Owner is fully rented boasting six two bedrooms, fifteen one-bedrooms and three studio units. The community has its own Laundry facility, playground area for children, roman statues, and pillar sounding the outside seating area. This building has been completely remodeled spending over $425,000, with New Roof, Impact Doors, all up-dated Electric – Plumbing, New Kitchens, bathrooms, 40 years re-certification, all done with City of Miami Permits. It’s fully rented with yearly leases and 85% of the tenants are leased through Section 8. A government program guaranteeing 85% to 95% rental income to the owner. Imagine, having your rental income being protected by the Federal Government.
PROPERTY FACTS
| Price | $4,300,000 | Building Class | C |
| Price Per Unit | $179,167 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 11,769 SF |
| Cap Rate | 7.22% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.27/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone | Yes |
Property Overview
| Price | $ 4,300,000 |
| ID | 15 |
| Type | Commercial |
| Sold | No |
| Contract | Sale |
| Status | Available |
| Home area | 11769 sqft |
| Material | Block, 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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