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685 84th St Miami Beach, FL 33141
640 85th St Miami Beach, FL 33141
700 85th St Miami Beach, FL 33141
- Huge Upside in Raising Rents
- 58% of the Unit Mix are 3 Bedroom Units
- 9 Folios included in Sale
- 1.85 Acres 3 Blocks from Miami Beach Ocean
- Current 4.84% CAP & 6.33% CAP Pro Forma
Portfolio Description
Premier Properties is pleased to present Stillwater Beach Portfolio a 48-unit multifamily residential apartments located at Biscayne Beach subdivision. The investment opportunity consists of a unit mix of (5) Studio, one-bathroom, (4) one-bedroom, one-bathroom unit, (10) two-bedroom, two bathroom, (2) two-bedroom, one-bathroom, (20) three-bedroom, one-bathroom & (8) three-bedroom, two-bathroom units totaling approximately 48,736 Square Foot. The Portfolio consist of 9 Garden Style continuous Folio's, sitting on 80,740 Square Foot of land or 1.85 Acres. All apartment units offer updated kitchens cabinets with modern kitchen appliances, bathrooms, floorings, and a mixture of Central, Minisplit & Wall A/C units. Water and sewer are included in the rent while tenants pay for all their utilities.
Stillwater Beach Portfolio offers an investor the opportunity to purchase an irreplaceable, income producing property in one of the strongest growing rental markets in Miami-Dade County, where vacancies are virtually non-existent. In conclusion, the property provides a new owner great cash flow day one and the opportunity to immediately raise rents approximately 25% within the first years of acquisition.
Please call or email Agent for the Offering Package
