THIS IS A 8 UNIT a prime opportunity 8 one bedroom, one bath apartments in Overtown.


Property

Website:https://www.nestseekers.com/3144341
Address:
225 NW 16th St
Miami, FL 33136
Ownership: For Sale
Pets: Pets Allowed
Area: 3528 sq ft

Financials

Price: $1,575,000
Annual Taxes: $5,578

Description

THIS IS A 8 UNIT a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.

Contact

888 Biscayne Blvd # Unit CU9 Miami, FL 33132
Courtesy of New World Realty Group Inc

225 NW 16th St