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Property Name:  Income Producing 4-plex Miami Beach

Location:  Biscayne Point

Asking Price:  $475,000

Number of Units:  4

Lot Size:  5650

Total Square Feet:  2800

Price Per Unit:  $118

Year Built:  1951


Types of Properties Buildable:  residential

Watefront:  NO

This apartment building for sale in Miami Beach is ideally located in a neighborhood that is highly desired by both local and foreign residents. 

Contact
MLR Realty
(305) 673-3303
Email


Additional Information

 PROPERTY HAS BEEN SOLD

This well kept income producing apartment building for sale in Miami is a great investment property.

This income producing four-plex is located in the heart of Miami Beach in an area that is as one of the best rental markets in Miami-Dade. This neighborhood is highly sought after by both local and foreign residents. The buildings ideal location is just blocks from the Atlantic Ocean and within walking distance to North Beach boardwalk, North Shore Park, groceries, retail, schools and more.

This apartment building for sale in Miami Beach has four units including two 1 bedroom, 1 bathroom apartments and two, 2 bedroom, 1 bathroom apartments. The apartments have been upgraded with central air conditioners and each unit is metered separately for electricity and gas.

The building is currently 100% occupied and has a waiting list of potential renters. The income from the current rents makes this a great Miami investment property that offers a strong and reliable return for any buyer. This multifamily building has been approved by the city to build up to 5-stories thus making it a perfect opportunity for a developer. 

Miami Investment Property Details:

Price/Unit: $118,750

Cap Rate: 7.03%

Occupancy: 100%

Approved Plans: up to 5 stories

 

Current Financials:

Effective Gross Income: $47,520

Operating Expenses: $14,142

Net Operating Income: $33,378 

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