Price Reduced 4.88%
Price History
$3,995,000
7/17/2024
$3,800,000
9/17/2024
14280 NE 6th Ave, North Miami, FL, 33161
1959
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.
Status:
Pending
Type:
Commercial
Zoning:
3800
Heating:
Other
Cooling:
Other
Est. Taxes:
$66,985
Construction
Block
Days on Market:
72
Lease Term Type:
36 Months
MLS #:
A11625158
Community Info
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Listing courtesy of Fausto Commercial Realty Consultants Inc Phone: 305-431-2258