1362 2nd St ,Detached, Quadruplex, Lawrence Estates Land Cos for Sale

1362 2nd St for Sale

Price $3,990,000.00

• Lot size 8019
• Year Build 1914
• Waterfront
• Zip 33135
• Style Detached
• Parking Description
• Pool Yes
• Status Active

Description

Finally, this Cashy Cow is for sale. Legal 20 unit apt bldg. The in place gross yearly rental income is presently $335,880.00. The current NOI is $224,176.00! Even at these outstanding income numbers there is plenty of upside in raising rents. Sec 8 rents are much higher than current rents. Property feat. newer roofs & new PVC plumbing. There are 6 two bedroom units & 14 one bedroom units. Always 100% occupied. Priced at only $199,500 a unit this is unheard of for a 20 unit bldg. in Little Havana w/ these in place rents. 40 year certifications recently completed. Click on attachments to view the current rent roll, 2024 operating statement and 40 year certifications. The property has a Freddie Mac loan that is assumable. The rate is 3.83%. The balance is $1,735,000. Maturity date is 2030.

LAWRENCE ESTATE LAND COS SUB PB 2-46 W1/2 LOT 7 & ALL LOT 8 BLK 82 LOT SIZE 11250 SQUARE FEET OR 20787-3725 1002 1

1/4 To Less Than 1/2 Acre Lot

Finally, this Cashy Cow is for sale. Legal 20 unit apt bldg. The in place gross yearly rental income is presently $335,880.00. The current NOI is $224,176.00! Even at these outstanding income numbers there is plenty of upside in raising rents. Sec 8 rents are much higher than current rents. Property feat. newer roofs & new PVC plumbing. There are 6 two bedroom units & 14 one bedroom units. Always 100% occupied. Priced at only $199,500 a unit this is unheard of for a 20 unit bldg. in Little Havana w/ these in place rents. 40 year certifications recently completed. Click on attachments to view the current rent roll, 2024 operating statement and 40 year certifications. The property has a Freddie Mac loan that is assumable. The rate is 3.83%. The balance is $1,735,000. Maturity date is 2030.

City:Miami,Roof:1:Flat Roof With Facade Front,Zoning:3901,List A O R:A-Miami Association of REALTORS,Stories:2,Tax Year:2024,Flooring:1:Tile,Latitude:25.7711478,Cooling Y N:1,List Price:3990000,Listing Id:A11772031,Longitude:-80.2174904,Mls Status:Active,Year Built:1914,Inclusions:None,Living Area:8019,Postal Code:33135,Street Name:2nd St,Coordinates:1:25.7711478,Photos Count:18,Building Name:LAWRENCE ESTATES LAND COS,Listing Terms:1:Assumable,Lot Size Units:Square Feet,M I A M I R E_ Area:41,M L S Area Major:Lawrence Estates Land Cos,On Market Date:2025-03-27,Parcel Number:01-41-02-006-2220,Parking Total:11,Property Type:Residential Income,Rent Includes:1:Hot Water,2:Gardener,3:Pest Control,4:Sewer,5:Trash Collection,6:Water,Stories Total:2,Street Number:1362,M I A M I R E_ Style:Fourplex,Public Remarks:Finally, this Cashy Cow is for sale. Legal 20 unit apt bldg. The in place gross yearly rental income is presently $335,880.00. The current NOI is $224,176.00! Even at these outstanding income numbers there is plenty of upside in raising rents. Sec 8 rents are much higher than current rents. Property feat. newer roofs & new PVC plumbing. There are 6 two bedroom units & 14 one bedroom units. Always 100% occupied. Priced at only $199,500 a unit this is unheard of for a 20 unit bldg. in Little Havana w/ these in place rents. 40 year certifications recently completed. Click on attachments to view the current rent roll, 2024 operating statement and 40 year certifications. The property has a Freddie Mac loan that is assumable. The rate is 3.83%. The balance is $1,735,000. Maturity date is 2030.,Structure Type:1:Fourplex,County Or Parish:Miami-Dade County,List Office Name:Mederos and Associates Real Estate Inc,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2366,Property Sub Type:Quadruplex,State Or Province:FL,Street Dir Prefix:SW,Subdivision Name:LAWRENCE ESTATES LAND COS,Tax Annual Amount:40539,Total Actual Rent:335880,Unparsed Address:1362 SW 2nd St, Miami FL 33135,Listing Agreement:Exclusive Right To Sell,Operating Expense:111703,Year Built Details:Effective Year Built,Building Area Total:8019,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:497.5683,Original List Price:3990000,Public Survey Range:41,Documents Available:1:Other Available Information,2:Rent Rolls,I D X Participation Y N:1,Net Operating Income:224176,Number Of Units Total:20,Syndication Remarks:Finally, this Cashy Cow is for sale. Legal 20 unit apt bldg. The in place gross yearly rental income is presently $335,880.00. The current NOI is $224,176.00! Even at these outstanding income numbers there is plenty of upside in raising rents. Sec 8 rents are much higher than current rents. Property feat. newer roofs & new PVC plumbing. There are 6 two bedroom units & 14 one bedroom units. Always 100% occupied. Priced at only $199,500 a unit this is unheard of for a 20 unit bldg. in Little Havana w/ these in place rents. 40 year certifications recently completed. Click on attachments to view the current rent roll, 2024 operating statement and 40 year certifications. The property has a Freddie Mac loan that is assumable. The rate is 3.83%. The balance is $1,735,000. Maturity date is 2030.,Listing Contract Date:2025-03-27,Originating System I D:miamire,Public Survey Section:2,Showing Instructions:24 Hour Notice,See Broker Remarks,Showing Assist,Street Number Numeric:1362,Tax Legal Description:LAWRENCE ESTATE LAND COS SUB PB 2-46 W1/2 LOT 7 & ALL LOT 8 BLK 82 LOT SIZE 11250 SQUARE FEET OR 20787-3725 1002 1,Public Survey Township:41,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Adjusted Area S F:3811,M I A M I R E_ Internet Remarks:Finally, this Cashy Cow is for sale. Legal 20 unit apt bldg. In place gross yearly rental income is presently $335,880.00. The NOI is $224,176.00!,M I A M I R E_ Showing Time Flag:1,Contract Status Change Date:2025-03-27,Internet Address Display Y N:1,Number Of Units In Community:4,M I A M I R E_ Ok To Advertise List:No,Internet Entire Listing Display Y N:1,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:497.57,