Keller Williams Realty Premier
Listed by Compass Florida, LLC., Keller Williams Realty Premier
$579,000
Income Producing Duplex in the middle of Miami
Details
APN 01-31-23-038-0220
Property Type Multifamily
Sub Type Student Housing, Apartment Building
Square Footage 2,059
Units 2
Cap Rate 6.00%
NOI $366,230
Occupancy 100%
Tenancy Multi
Price per SqFt $281
Broker Co-Op True
Year Built 1972
Year Renovated 2022
Buildings 1
Stories 1
Lot Size (SqFt) 5,006
Zoning 5700
Parking Spaces 4 spaces
Parking per 1,000 SqFt 1.94
This is a great investment opportunity at a 6 Cap
Marketing description
Each unit is a 2bedroom/1 bathroom. This is a great investment opportunity. Updated duplex with washer & dryer for each unit, new floors, new central AC in both units & separate water/electric meters!. Front unit currently rented for $1,985/mo. month-to-month. Rear unit is leased for $2030 per month. Close to Jackson Memorial Hospital, Miami International Airport, Midtown.
Investment highlights
Both properties are leased. This is not easy to show. Sample numbers: 1. Gross Rental Income • $1,985 + $2,030 = $4,015/month • Annual: $4,015 × 12 = $48,180 2. Expenses • Property taxes: $7,617 • Insurance: $3,940 • Total expenses: $11,557 3. Net Operating Income (NOI) • $48,180 - $11,557 = $36,623 4. Value at 6% Cap Rate • $36,623 ÷ 0.06 = $610,383
Listing Contacts
Keller Williams Realty Premier
Listed by Compass Florida, LLC., Keller Williams Realty Premier
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$366,230.00
$30,519.17/mo
Valuation Metrics
0
DSCR
63.25%
Cap Rate
63.25%
ROI
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