Price Reduced 4.88%

$3,800,000

Pending

Est. Mortgage $19,717/mo *

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Price History

$3,995,000
7/17/2024

$3,800,000
9/17/2024

14280 NE 6th Ave, North Miami, FL, 33161

14280 NE 6th Ave, North Miami, FL, 33161
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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

School Info

Walk Score

Yelp

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Listing courtesy of Fausto Commercial Realty Consultants Inc Phone: 305-431-2258