$3,800,000
14280 NE 6th Ave North Miami, FL 33161
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$3,800,000
Est. payment /mo
10,811 SqFt
Active Under Contract
14280 NE 6th Ave North Miami, FL 33161
UPDATED:
09/30/2024 08:04 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 10,811 sqft
Price per Sqft $351
MLS Listing ID A11625158
Construction Status Resale
HOA Y/N No
Year Built 1959
Annual Tax Amount $66,985
Contingent Other
Lot Size 0.400 Acres
Property Description
Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.
Location
State FL
County Miami-dade
Area 22
Interior
Heating Other
Cooling Other
Flooring Terrazzo, Tile, Vinyl
Window Features Impact Glass
Exterior
Roof Type Built-Up
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Block
Construction Status Resale
Others
Tax ID 06-22-19-011-0070
Security Features Security Gate,Smoke Detector(s)
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Listed by Fausto Commercial Realty Consultants Inc
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