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Miami, FL 33138

The opportunity allows for an investor to acquire a portfolio of four (4) buildings, with a total of 43 apartment units, on two (2) contiguous parcels, facing Little River. All buildings are two-stories, and have been renovated over the past 18 months (featuring some units with hurricane impact windows, new kitchens, new bathrooms, new floors and new mini split HVAC systems on some units). The apartments range in size between 407-690 square feet. The units are currently generating between $700 and $1,300 a month in gross rental income at a cap rate of 4.79%. Market rate rents can be $1150 for the Studios, $1350 for the 1/1's, and $1650 for the 2/1's. With a well implemented capital improvement plan, the Net Operating Income can be improved from $345,142 to $418,731 at a cap rate of 5.82%

Key Property Information

Listing Status
Unavailable
Listing Type
Highest & best offer
Lot Size
41,382 Sq ft
Opportunity Zone
Off
Price per unit
$ 0