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Marketing Description
Dwntwn Realty Advisors Has Been Retained on an Exclusive Basis to Arrange the Sale of 1472 Nw 14th St, Miami, Florida, the Barbara Court Apartments. The Barbara Courts Apartments is a 14 Unit Senior Affordable Rental Housing Community in Miami, Fl. The Community is Subsidized by the Federal Government's Housing and Urban Development (Hud). The Hap Contract for Barbara Court Was Renewed in 2012 and Will Be in Effect Until 2032.
Barbara Court Consists of 2, Two-story Buildings Totaling 9,648 Sf, Situated on a 11,357 Sf Lot. The Unit Mix Consists of 12 One-bedroom/ One-bathroom Units and 2, Two-bedroom/one-bathroom Units. The Units Range in Size From 550 Sf- 900 Sf. The Property is Currently 100% Occupied. With an Average Monthly Rent of $1,150 or $1.78 Psf.
The Subject Property Sits in the Heart of Miami’s Civic Center, Health District, and River Landing. The Property is Perfectly Positioned Offering Convenience to Hospitals and Health Related Employment Hubs. As Well as the Recently Delivered River Landing Project. Which Consists of an 8 Ac Riverfront Mall. Offering Nearly 400k Sf of Retail Space, Including Tenants, Such as Publix Super Markets, Tj Maxx, Ross, Chick Fil a, at&t, Planet Fitness, and Chase Bank. The Subject Property is a 5 Minute Walk From the River Landing.
Investment Highlights
- Section 8 Project-Based Rental Assistance with HUD Secured Rent
- Stable Long Term Tenants with
- Walking Distance From the Recently Delivered River Landing Development
- Sale Price: $2,300,000
- Building Size: 9,648 Sf
- Number of Units: 14
- Price Per Unit: $164,285
- Building Psf: $247.71
- Land Psf: $202.52
- Noi: $107,372
- Cap Rate: 4.67%
- Hud Rent Adjustment Date: 2022
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Contacts
Sold on
BY:
Devlin Marinoff PRO
•••.•••.7343
dm@••••••••••••••••••••.com
Sold on
BY:
David Richman
•••.•••.7159
•••9928@•••••.com
Sold on
BY:
Tony Arellano PRO
•••.•••.8330
ta@••••••••••••••••••••.com
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