14280 6th Ave ,Apartments for Sale & Rent

14280 6th Ave for Sale & Rent

Price $3,800,000.00

• Lot size 17416
• Year Build 1959
• Waterfront
• Zip 33161
• Style
• Parking Description
• Pool Yes
• Status Active With Contract

Description

Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=A11625158

19 52 42 RUCKS PARK PB 44-97 LOT 7 & LOT 8 LESS S21FT BLK 1 LOT SIZE 17416 SQUARE FEET OR 20761-1057/21649-376 1002 6 COC 22011-2089 01 2004

Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.

City:North Miami,Zoning:3800,List A O R:A-Miami Association of REALTORS,Stories:2,Flooring:1:Tile,2:Vinyl,Latitude:25.906442,Cooling Y N:1,Heating Y N:1,Lease Term:1 To 3 Year Lease,List Price:3800000,Listing Id:A11625158,Longitude:-80.1875407,Mls Status:Active With Contract,Year Built:1959,Postal Code:33161,Street Name:6th Ave,Contingency:Other,Coordinates:1:25.906442,Gross Income:378084,Photos Count:51,Days On Market:72,Listing Terms:1:Conventional/Refinance,Lot Size Units:Square Feet,M I A M I R E_ Area:22,On Market Date:2024-07-17,Parcel Number:06-22-19-011-0070,Property Type:Commercial Sale,Stories Total:2,Street Number:14280,Public Remarks:Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.,County Or Parish:Miami-Dade County,List Office Name:Fausto Commercial Realty Consultants Inc,Standard Status:Active Under Contract,Living Area Units:Square Feet,Major Change Type:Active Under Contract,Postal Code Plus4:2998,Property Sub Type:Income/MultiFamily,State Or Province:FL,Street Dir Prefix:NE,Tax Annual Amount:66985,Unparsed Address:14280 NE 6th Ave, North Miami FL 33161,Listing Agreement:Exclusive Right To Sell,Security Features:1:Security Gate,Year Built Details:Resale,Building Area Total:10811,Building Area Units:Square Feet,Lease Considered Y N:1,Lot Size Square Feet:17416,Number Of Buildings:1,Original List Price:3995000,Previous List Price:3995000,Public Survey Range:22,Documents Available:1:Investment Analysis,2:Photos,3:Rent Rolls,I D X Participation Y N:1,Net Operating Income:280406,Syndication Remarks:Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.,Financial Data Source:1:Projected Pro-Forma,Listing Contract Date:2024-07-17,Originating System I D:miamire,Public Survey Section:19,Street Number Numeric:14280,Tax Legal Description:19 52 42 RUCKS PARK PB 44-97 LOT 7 & LOT 8 LESS S21FT BLK 1 LOT SIZE 17416 SQUARE FEET OR 20761-1057/21649-376 1002 6 COC 22011-2089 01 2004,Public Survey Township:22,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Please visit Fausto Commercial,Contract Status Change Date:2024-09-27,Internet Address Display Y N:1,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:No,Internet Entire Listing Display Y N:1,Internet Automated Valuation Display Y N:1,