2014 3rd St ,Apartments for Sale

2014 3rd St for Sale

Price $2,700,000.00

• Lot size 9250
• Year Build 1971
• Waterfront
• Zip 33135
• Style
• Parking Description
• Pool Yes
• Status Active

Description

9-unit apartment building, all units are 2-bedrooms 1-bathroom, approximately 780 sq,ft each. This property has a current monthly gross income of $17,900, which results in a cap rate of 5.43% at the offered price. However, the projected and potential monthly gross income is $22,955, which would result in a cap rate of 6.22%. This could be achieved as leases renew and increase the rents on the month to month tenants. 40-year recertification that was completed on 4/29/2021. With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn. Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.

IDLEWILD PARK PB 2-87 LOT 13 LESS N7.5FT BLK 44 LOT SIZE 9250 SQ FT OR 10230-711 1178 1

9-unit apartment building, all units are 2-bedrooms 1-bathroom, approximately 780 sq,ft each. This property has a current monthly gross income of $17,900, which results in a cap rate of 5.43% at the offered price. However, the projected and potential monthly gross income is $22,955, which would result in a cap rate of 6.22%. This could be achieved as leases renew and increase the rents on the month to month tenants. 40-year recertification that was completed on 4/29/2021. With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn. Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.

City:Miami,Zoning:3900,List A O R:A-Miami Association of REALTORS,Latitude:25.7693536,List Price:2700000,Listing Id:A11697955,Longitude:-80.2283267,Mls Status:Active,Year Built:1971,Postal Code:33135,Street Name:3rd St,Coordinates:1:25.7693536,Photos Count:38,Days On Market:72,Lot Size Units:Square Feet,M I A M I R E_ Area:99,On Market Date:2024-11-12,Parcel Number:01-41-03-014-2040,Property Type:Commercial Sale,Street Number:2014,Public Remarks:9-unit apartment building, all units are 2-bedrooms 1-bathroom, approximately 780 sq,ft each. This property has a current monthly gross income of $17,900, which results in a cap rate of 5.43% at the offered price. However, the projected and potential monthly gross income is $22,955, which would result in a cap rate of 6.22%. This could be achieved as leases renew and increase the rents on the month to month tenants. 40-year recertification that was completed on 4/29/2021. With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn. Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.,County Or Parish:Miami-Dade County,List Office Name:Coldwell Banker Realty,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:1826,Property Sub Type:Income/MultiFamily,State Or Province:FL,Street Dir Prefix:SW,Tax Annual Amount:26323,Unparsed Address:2014 SW 3rd St, Miami FL 33135,Listing Agreement:Exclusive Right To Sell,Building Area Total:7566,Building Area Units:Square Feet,Lot Size Square Feet:9250,Original List Price:2700000,Public Survey Range:41,I D X Participation Y N:1,Syndication Remarks:9-unit apartment building, all units are 2-bedrooms 1-bathroom, approximately 780 sq,ft each. This property has a current monthly gross income of $17,900, which results in a cap rate of 5.43% at the offered price. However, the projected and potential monthly gross income is $22,955, which would result in a cap rate of 6.22%. This could be achieved as leases renew and increase the rents on the month to month tenants. 40-year recertification that was completed on 4/29/2021. With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn. Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.,Listing Contract Date:2024-11-12,Originating System I D:miamire,Street Number Numeric:2014,Tax Legal Description:IDLEWILD PARK PB 2-87 LOT 13 LESS N7.5FT BLK 44 LOT SIZE 9250 SQ FT OR 10230-711 1178 1,Public Survey Township:41,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:9-unit apartment building, all units are 2-bedrooms 1-bathroom, approximately 780 sq,ft each.,Contract Status Change Date:2024-11-12,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,