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$2,700,000
Est. payment /mo
7,566 SqFt
UPDATED:
01/23/2025 04:12 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,566 sqft
Price per Sqft $356
MLS Listing ID A11697955
HOA Y/N No
Year Built 1971
Annual Tax Amount $26,323
Lot Size 9,250 Sqft
Property Description
9-unit apartment building, all units are 2-bedrooms 1-bathroom, approximately 780 sq,ft each.
This property has a current monthly gross income of $17,900, which results in a cap rate of 5.43% at the offered price.
However, the projected and potential monthly gross income is $22,955, which would result in a cap rate of 6.22%.
This could be achieved as leases renew and increase the rents on the month to month tenants.
40-year recertification that was completed on 4/29/2021.
With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn.
Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.
This property has a current monthly gross income of $17,900, which results in a cap rate of 5.43% at the offered price.
However, the projected and potential monthly gross income is $22,955, which would result in a cap rate of 6.22%.
This could be achieved as leases renew and increase the rents on the month to month tenants.
40-year recertification that was completed on 4/29/2021.
With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn.
Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.
Location
State FL
County Miami-dade
Area 99
Others
Tax ID 01-41-03-014-2040
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11697955
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Listed by Coldwell Banker Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
bernadette@bernadettebunch.com
3591 NW FEDERAL HWY, JENSEN BEACH, Florida, 34957, USA