Douglas Elliman
Listed by Douglas Elliman Real Estate, Douglas Elliman
$1,375,000
ALLAPATTAH MULTIFAMILY
Details
APN 01-31-27-038-0020
Property Type Multifamily
Sub Type Apartment Building, Apartment/Condo
Square Footage 3,200
Units 7
Cap Rate 5.37%
NOI $75,161
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 6.90%
Pro-Forma NOI $96,551
Year Built 1976
Year Renovated 2016, 2023, 2026
Buildings 1
Acreage 0.230
Zoning 3900 - T4-R
Parking Spaces 7 spaces
Parking per 1,000 SqFt 2.19
Investment Type Value Add
Turnkey 5-Unit Multifamily
Marketing description
Turnkey 5-unit multifamily in Allapattah area. Property sits on a gated 9,975 SF lot with on-site parking and upgraded interiors. (3) 1BD + (2) 2BD units. Recent renovations include new kitchens, new bathrooms, impact windows, and updated interiors. Features separate electric meters, low operating expenses, and on-site laundry. Strong Section 8 rental potential and upside in rents. Zoning (T4-R) allows for value-add or redevelopment potential. Ideal for buy-and-hold investors, 1031 exchange buyers, or cash-flow seeking operators seeking a Miami multifamily asset. Located minutes to Wynwood, Midtown, Health District, and major highways. Great income-producing opportunity with long-term appreciation in Miami’s urban core.
Listing Contacts
Douglas Elliman
Listed by Douglas Elliman Real Estate, Douglas Elliman
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$75,161.00
$6,263.42/mo
Valuation Metrics
0
DSCR
5.47%
Cap Rate
5.47%
ROI
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