Additional Details

• Features: RARE, PRIME LOCATION for a for a FULLY RENTED multifamily in MIAMI! This concrete block 7 bedroom, 5 bathroom features 2264 sqft and sits on a large lot. The main dwelling is a single family and boasting three bedroom and 2 baths. The dwelling in the back consists of 2-1/1 apartments and 1-2/1 apartment. Each unit has its own stove, refrigerator, microwave, living area, bedroom and bath. Conveniently located by major highways and Miami International Airport. This deal is being offered at a compelling rental return cap rate! Don't miss out on this rare opportunity!
• Potential ARV: $675,000-$725,000
• Rehab Description: For a rental, this property is in current rental condition. The roof on the main unit is two years old, the roof on the apartment units is from 2015, and they both appear to be in good condition. The ac unit works, but may need replacing . To maximize rent modernize the interior by updating the flooring, kitchen, baths, and fixtures/trim. Apply interior/exterior fresh paint and deep clean.
• Estimated Rehab: $40,000-$50,000
• Ideal Investment Strategy: Rental/Resale
• Construction: CBS
• Occupancy: Call your Agent
• Comp 1: 2990 NW 28th St, Miami, FL 33142 Quadplex (4-2/1's) 1947 Build SOLD @ $830,000 08/25/23 (Non-conforming multi-family) (Rented for a total of $4050/mo) (Slightly bigger, sold in dated condition to an investor)
• Comp 2: 3181 NW 28th St, Miami, FL 33142 Duplex (4/2 SFR & 3/2 SFR) 1940 Build SOLD @ $680,000 05/26/23 (Non-conforming multi-family( (Rented for a total of $4900/mo) (Similar size, inferior property, sold in similar condition)
• Comp 3: 2731 NW 27th St, Miami, FL 33142 Quadplex (4-2/1's) 2730 SQFT 1947 Build SOLD @ $900,000 05/26/23 (Rented for a total of $4650/mo) (Slightly bigger/sold in similar condition)
• Comp 4: 3144 NW 33rd St, Miami, FL 33142 Duplex (3/2 & 2/1) 2456 SQFT 1971 Build SOLD @ $643,000 06/20/23 (Slightly smaller/sold as-is dated to an investor)
• Important Details: -->Buyer agrees to assume current tenants with a combined rent of $6,550/mo. Breakdown as followed: *UNIT: #1: SFR $2300.00 - Month to Month Lease Owner pays electric and water. *UNIT: #2: 2 bed 1 bath $2100 - Lease ends 09/30/24 - security deposit: $1200 - Owner pays electric and water. *UNIT: #3: 1 bed 1 bath $950.00 - Lease ends 12/31/23 - security deposit: $900 - Owner pays electric and water. *UNIT: #4: 1 bed 1 bath $1200.00 - Lease ends 03/30/24 - security deposit: $12000 - Owner pays electric and water. --> Land Use: Multi Family 10 Units Less