12240 5th Ave ,Other, Quadruplex, Biscayne Park Estates for Sale

12240 5th Ave for Sale

Price $1,900,000.00

• Lot size 4479
• Year Build 1951
• Waterfront
• Zip 33161
• Style Other
• Parking Description
• Pool Yes
• Status Active With Contract

Description

Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. This property is exceptionally well-maintained, renovated, and efficiently managed. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 22 units, which could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. The property is currently occupied by excellent tenants. Zoned R-5, this property opens up a wide range of possibilities, including multifamily medium density"Exceptional rental returns

For more info email nv@miamgmtgroup.com 305-322-8767 Do not disturb tenants Buyer must do their own due diligence to confirm with the city. "Exceptional rental returns ? we kindly request not to disrupt tenants for unit visits, except during designated due diligence periods."

BISCAYNE PARK ESTS BLKS 8 9 10 11 PB 5-107 LOT 24 BLK 8 LOT SIZE 15000 SQUARE FEET OR 18882-3051 11 1999 1 COC 24160-3301 09 2005 1

Less Than 1/4 Acre Lot

Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. This property is exceptionally well-maintained, renovated, and efficiently managed. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 22 units, which could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. The property is currently occupied by excellent tenants. Zoned R-5, this property opens up a wide range of possibilities, including multifamily medium density"Exceptional rental returns

City:North Miami,Roof:1:Shingle,Model:8 Unit Rental Income,Zoning:3700,List A O R:A-Miami Association of REALTORS,Stories:1,Tax Year:2022,Flooring:1:Tile,Latitude:25.887893,Cooling Y N:1,Heating Y N:1,List Price:1900000,Listing Id:A11446202,Longitude:-80.188147,Mls Status:Active With Contract,Year Built:1951,Living Area:4479,Postal Code:33161,Street Name:5th Ave,Coordinates:1:25.887893,Photos Count:9,Builder Model:8 Unit Rental Income,Building Name:BISCAYNE PARK ESTATES,Days On Market:136,Listing Terms:1:Conventional,2:Exchange,Lot Size Units:Square Feet,M I A M I R E_ Area:22,M L S Area Major:Biscayne Park Estates,On Market Date:2023-09-01,Parcel Number:06-22-30-031-0250,Parking Total:12,Property Type:Residential Income,Stories Total:1,Street Number:12240,M I A M I R E_ Style:Fourplex,Public Remarks:Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. This property is exceptionally well-maintained, renovated, and efficiently managed. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 22 units, which could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. The property is currently occupied by excellent tenants. Zoned R-5, this property opens up a wide range of possibilities, including multifamily medium density"Exceptional rental returns,Structure Type:1:Fourplex,County Or Parish:Miami-Dade County,List Office Name:Mia MGMT Group, LLC.,Standard Status:Active,Window Features:1:High Impact Windows,Living Area Units:Square Feet,Major Change Type:Price Decrease,Postal Code Plus4:5444,Property Sub Type:Quadruplex,State Or Province:FL,Street Dir Prefix:NE,Subdivision Name:BISCAYNE PARK ESTATES,8 Unit Rental Income,Tax Annual Amount:14702,Unparsed Address:12240 NE 5th Ave, North Miami FL 33161,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:4479,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:468.8547,Original List Price:2300000,Previous List Price:2150000,Public Survey Range:22,Documents Available:1:Copy Of Lease(S),2:Other Available Information,3:Rent Rolls,4:Existing Survey,I D X Participation Y N:1,Number Of Units Total:8,Syndication Remarks:Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. This property is exceptionally well-maintained, renovated, and efficiently managed. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 22 units, which could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. The property is currently occupied by excellent tenants. Zoned R-5, this property opens up a wide range of possibilities, including multifamily medium density"Exceptional rental returns,Listing Contract Date:2023-09-01,Originating System I D:miamire,Public Survey Section:30,Showing Instructions:See Broker Remarks,Street Number Numeric:12240,Tax Legal Description:BISCAYNE PARK ESTS BLKS 8 9 10 11 PB 5-107 LOT 24 BLK 8 LOT SIZE 15000 SQUARE FEET OR 18882-3051 11 1999 1 COC 24160-3301 09 2005 1,Public Survey Township:22,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:2%,M I A M I R E_ Adjusted Area S F:2338,M I A M I R E_ Internet Remarks:no,Contract Status Change Date:2023-09-01,Internet Address Display Y N:1,Number Of Units In Community:4,Transaction Broker Compensation:2%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:468.85,