Villa La Pinta

Villa La Pinta is a 29-unit, three-story apartment building consisting of approximately 16,194 square-feet and comprising a 6,780 square-foot lot (according to the Miami Dade Property Appraiser). The property was built in 1925 and has undergone numerous recent renovations. All units feature new tile flooring, updated kitchens and bathrooms, electrical appliances and new mini-split air conditioning units. The majority of the plumbing has been recently upgraded with PVC and copper lines, a new boiler system was installed, the roof was recently replaced in 2016 and hurricane-resistant impact windows were installed in 2022. Additionally, Villa La Pinta received its most recent 10-year building recertification in 2016. The unit mix is comprised (1) small studio/office measuring approximately 280 square feet, (2) studios measuring approximately 420 square feet with an average in-place rent of $1,645 and (26) one-bedroom | one-bathroom apartments measuring approximately 522 square feet with an average in-place rent of $1,655. Residents are responsible for their own electricity, while water, sewer and trash are currently included in the rent. Common area amenities include an elevator, on-site laundry facilities and a lobby. The property has a $2,527,000 assumable Fannie Mae mortgage at 3.68% interest, with interest-only payments until March 1st, 2026 and a maturity date of February 1st, 2031.