Listed by STL Commercial
$3,190,000
Fully-Occupied and Renovated Apartment Building
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,574
Units 14
Cap Rate 6.62%
NOI $211,302
Lot Size (SqFt) 6,250
Zoning RM-1
14 Units | 6.62% Existing Cap Rate
Marketing description
STL Commercial has been exclusively retained for disposition of 960 Biarritz Drive, a 14-unit stabilized and fully renovated apartment building in the heart of North Beach. The property is steps from the water and a 5 minute walk to the beach. North Beach is a growing market with a number of attractive retailers, restaurants, and new developments. All 14-units have tile flooring, full kitchens, and impact windows/doors. The property is being offered at a 6.62% existing cap rate and is fully leased with below market rents. The purchaser can likely increase rents. All leases have 60 day termination clauses.
Investment highlights
Hurricane windows & doors
14 stabilized units
Renovated
Listing Contacts
Listed by STL Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$211,302.00
$17,608.50/mo
Valuation Metrics
0
DSCR
6.62%
Cap Rate
6.62%
ROI
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