225 NW 16th St, Miami FL 33136,Miami,Miami-Dade County,Commercial Sale
- $1,600,000
Overview
- Income/MultiFamily
Description
Presenting a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.
Address
Open on Google Maps-
Address: 16th St
-
City: Miami
-
State/county: Miami-Dade County
-
Zip/Postal Code: 33136
Details
Updated on August 31, 2023 at 11:40 am-
Price $1,600,000
-
Year Built 1954
-
Property Type Income/MultiFamily
-
Property Status Commercial Sale
Additional details
-
StreetDirPrefix NW
-
PublicSurveyRange 31
-
ListAgentKey a0e8893820d031d27ad609f7479ec145
-
TaxLegalDescription ERICKSONS SUB PB B-88 LOT 11 BLK 12 LOT SIZE 50.000 X 105 OR 22659-3138 072004 6 COC 26147-3149 12 2007 1
-
OnMarketDate 2023-08-24
-
ListAgentEmail brego@bellsouth.net
-
ContractStatusChangeDate 2023-08-24
-
MajorChangeTimestamp 2023-08-25T19:41:51.397Z
-
PhotosCount 2
-
SubAgencyCompensation 3%
-
StatusChangeTimestamp 2023-08-25T19:41:51.397Z
-
PriceChangeTimestamp 2023-08-25T19:41:51.397Z
-
ListingKeyNumeric 385584083
-
MajorChangeType New
-
ListingContractDate 2023-08-24
-
ListAOR A-Miami Association of REALTORS
-
TaxAnnualAmount 5578
-
ListOfficeName New World Realty Group Inc
-
OriginatingSystemKey miamire
-
BusinessType Apartments
-
DualVariableCompensationYN no
-
PhotosChangeTimestamp 2023-08-25T20:21:44.123Z
-
RoadFrontageType City Street
-
OriginatingSystemName Miami Association of REALTORS®
-
ListOfficePhone 305-444-9300
-
MlsStatus Active
-
StreetNumber 225
-
ListingKey 512e4451e95d87bdfe98c1da9802ed9f
-
StateOrProvince FL
-
ListOfficeKey c064aac70451b0fe25bbd952ae2d4c13
-
BridgeModificationTimestamp 2023-08-26T19:32:43.739Z
-
ListAgentFullName Humberto Rego
-
ListAgentOfficePhone 305-444-9300
-
ParcelNumber 01-31-36-021-1710
-
ListingTerms All Cash, Assumable
-
OtherExpense 0
-
Possession Funding
-
IDXParticipationYN yes
-
InternetAddressDisplayYN yes
-
ListAgentMlsId 3005475
-
ModificationTimestamp 2023-08-26T19:30:25.260Z
-
OriginatingSystemID miamire
-
DaysOnMarket 2
-
BuyerAgencyCompensationType %
-
ListOfficeMlsId NEWW01
-
ListAgentDirectPhone 305-331-0664
-
StreetNumberNumeric 225
-
PostalCodePlus4 1856
-
NumberOfUnitsInCommunity 0
-
ExpirationDate 2024-02-23
-
SyndicationRemarks Offering a lucrative opportunity, these 8 studio apartments in Overtown boast a prime location with significant income potential. Great to use as is or for additional development/assemblage. Large new construction across the street. 40 year inspection done and available. Possible assumption of existing loan to right buyer. Rents range from $890-1200 and are under market allowing an increase cap rate. Each unit has separate water and electric meter and wall AC.
-
StructureType Free Standing
-
ListAgentStateLicense 3005475
-
PublicSurveyTownship 31
-
ListOfficeFax 305-448-8930
-
ListingAgreement Exclusive Agency
-
PublicSurveySection 36
-
ListingId A11442506
-
SpecialListingConditions Sale
-
OriginalListPrice 1600000
-
BuildingAreaUnits Square Feet
-
InternetEntireListingDisplayYN yes
-
BuyerAgencyCompensation 3%
-
InternetAutomatedValuationDisplayYN yes
-
OriginalEntryTimestamp 2023-08-25T19:41:51.397Z
-
SourceSystemKey 385584083
-
LotSizeSquareFeet 5250
-
InternetConsumerCommentYN yes
-
BuildingAreaTotal 1
Features
Schedule a Tour
Your information
360° Virtual Tour
Contact Information
View Listings- Alberto Zaltzberg
- +19545887564+19545887564WhatsApp