1050 9th Ave,Income Non-Waterfront, Apartments, Residential-Multi-Family

1050 9th Ave, Florida City, Florida, 33034

Price $1,600,000.00

  • Lot size 14569
  • Year Build 1998
  • Waterfront
  • Zip 33034
  • Style
  • Parking Description
  • Pool Yes
  • Status Active

Description

Great Investment! 8 unit apartment building in Opportunity Zone! ALL 3 BED 2 BATH ! 100% Occupied. Built in 1998, re-roofed in 2018, exterior renovations in January 2021, additional capital improvements includes 2 new a/c units installed in June 2021! Dedicated to affordable housing! 6 units are with Section8 Tenants, 2 units with tenants paying reduced rent. Current monthly gross is $11,197! Tenants pay for FPL, landlord pays for W&W. Rent increase potential of $14,000 in year 1 by bringing all units to the same price of $1,650 (and there's even room to increase more) Actual Cap: 5.27% (w/ vacancy!) ProForma Cap: 7.3% (only by bringing up all rents to same current price). Opportunity Zone Capital Gains Benefits!Tax Credits due to affordabel housing program! Two addresses: 1050-1070

Two addresses: 1050-1070 Only for affordable housing, so there's a limit to out of pocket rent from tenant. Therefore, market rent is achieved via Section8 tenants. 6 out of 8 tenants already w/Section8, investor's way to maximize rent is replacing last 2 tenants with Section8 also. Buyer or property manager has to do training with FL first housing. There are capital gains benefits and tax credits.

24 57 38 GREEN PARK SUB PB 47-25 LOT 17 BLK 2 LOT SIZE 75.100 X 194 OR 17510-2033 0197 4

Great Investment! 8 unit apartment building in Opportunity Zone! ALL 3 BED 2 BATH ! 100% Occupied. Built in 1998, re-roofed in 2018, exterior renovations in January 2021, additional capital improvements includes 2 new a/c units installed in June 2021! Dedicated to affordable housing! 6 units are with Section8 Tenants, 2 units with tenants paying reduced rent. Current monthly gross is $11,197! Tenants pay for FPL, landlord pays for W&W. Rent increase potential of $14,000 in year 1 by bringing all units to the same price of $1,650 (and there's even room to increase more) Actual Cap: 5.27% (w/ vacancy!) ProForma Cap: 7.3% (only by bringing up all rents to same current price). Opportunity Zone Capital Gains Benefits!Tax Credits due to affordabel housing program! Two addresses: 1050-1070

City:Florida City,Zoning:0500,List A O R:A-Miami Association of REALTORS,Stories:1,Latitude:25.4578756,Malone Id:1041876081,Cooling Y N:1,Heating Y N:1,List Price:1600000,Listing Id:A11070384,Longitude:-80.4916768,Mls Status:Active,Year Built:1998,Directions:Use GPS.,Inclusions:Building & Land,Postal Code:33034,Street Name:9th Ave,Coordinates:1:25.4578756,Gross Income:134364,Photos Count:6,Building Name:Park Green Apartments,Business Type:1:Residential-Multi-Family,Days On Market:3,Lot Size Units:Square Feet,On Market Date:2021-07-13,Other Expense:16100,Parcel Number:16-78-24-006-0330,Property Type:Commercial Sale,Stories Total:1,Street Number:1050,Public Remarks:Great Investment! 8 unit apartment building in Opportunity Zone! ALL 3 BED 2 BATH ! 100% Occupied. Built in 1998, re-roofed in 2018, exterior renovations in January 2021, additional capital improvements includes 2 new a/c units installed in June 2021! Dedicated to affordable housing! 6 units are with Section8 Tenants, 2 units with tenants paying reduced rent. Current monthly gross is $11,197! Tenants pay for FPL, landlord pays for W&W. Rent increase potential of $14,000 in year 1 by bringing all units to the same price of $1,650 (and there's even room to increase more) Actual Cap: 5.27% (w/ vacancy!) ProForma Cap: 7.3% (only by bringing up all rents to same current price). Opportunity Zone Capital Gains Benefits!Tax Credits due to affordabel housing program! Two addresses: 1050-1070,County Or Parish:Miami-Dade County,Expiration Date:2021-12-31,Manager Expense:8160,Private Remarks:Two addresses: 1050-1070 Only for affordable housing, so there's a limit to out of pocket rent from tenant. Therefore, market rent is achieved via Section8 tenants. 6 out of 8 tenants already w/Section8, investor's way to maximize rent is replacing last 2 tenants with Section8 also. Buyer or property manager has to do training with FL first housing. There are capital gains benefits and tax credits.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,New Taxes Expense:7000,Postal Code Plus4:1963,State Or Province:FL,Street Dir Prefix:NW,Tax Annual Amount:6400,Unparsed Address:1050 NW 9th Ave, Florida City FL 33034,Insurance Expense:6000,Listing Agreement:Exclusive Right To Sell,Operating Expense:48260,Building Area Total:9048,Building Area Units:Square Feet,Lot Size Square Feet:14569,Number Of Buildings:2,Original List Price:1600000,Public Survey Range:78,I D X Participation Y N:1,Maintenance Expense:6000,Net Operating Income:84372,Syndication Remarks:Great Investment! 8 unit apartment building in Opportunity Zone! ALL 3 BED 2 BATH ! 100% Occupied. Built in 1998, re-roofed in 2018, exterior renovations in January 2021, additional capital improvements includes 2 new a/c units installed in June 2021! Dedicated to affordable housing! 6 units are with Section8 Tenants, 2 units with tenants paying reduced rent. Current monthly gross is $11,197! Tenants pay for FPL, landlord pays for W&W. Rent increase potential of $14,000 in year 1 by bringing all units to the same price of $1,650 (and there's even room to increase more) Actual Cap: 5.27% (w/ vacancy!) ProForma Cap: 7.3% (only by bringing up all rents to same current price). Opportunity Zone Capital Gains Benefits!Tax Credits due to affordabel housing program! Two addresses: 1050-1070,Listing Contract Date:2021-07-13,Originating System I D:miamire,Public Survey Section:24,Showing Instructions:Call Listing Agent,Other Showing Instruction,Street Number Numeric:1050,Tax Legal Description:24 57 38 GREEN PARK SUB PB 47-25 LOT 17 BLK 2 LOT SIZE 75.100 X 194 OR 17510-2033 0197 4,Gross Scheduled Income:134364,Public Survey Township:78,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:1%,Contract Status Change Date:2021-07-13,Number Of Units In Community:6,Transaction Broker Compensation:2%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,

  • Price $1,600,000.00
  • Price Change: 2021-07-13
  • Lot size sq. ft.
  • Price per sq.ft.
  • Year Build 1998
  • Waterfront
  • View
  • Pool Yes
  • Style
  • Construction CBS Construction
  • Parking Description
  • Flooring Type
  • Property Type Commercial Sale
  • Status Active
  • Listed 2021-07-13
  • Days on Market 17
  • Furnished
  • City Florida City
  • Zip 33034
  • State Florida
  • Subdivision
  • Development Name Park Green Apartments
  • HOA Fees
  • Taxes 6400
  • Taxes Year