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14280 NE 6th Ave, North Miami FL 33161

Commercial Active With Contract
$3,800,000

BTC: 38.19249015

ETH: 1,091.84107391

-$195K (2024/09/17)
72 days
0 room(s)
Est. Estimated sales range: $0 - $0
$0

Overview

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.

Location

Florida • North Miami • 33161 • Commercial • Active With Contract

Facts and features

Type:
Commercial Sale
Parking:
No Data
Year Built:
1959
Lot:
17416 Square Feet
Heating:
Other
Price/sqft:
No Data
Cooling:
Other
HOA:
No Data
All facts and features

  • Flooring

    • Terrazzo

    • Tile

    • Vinyl

    Heating

    • Other

    Cooling

    • Other

  • Lot

    • Lot: 17416 Square Feet

    Other Property Information

    • Parcel Number: 06-22-19-011-0070

    • Zoning: 3800

  • Type and style

    • Property Type: Commercial Sale

    • Property Sub Type: Income/MultiFamily

  • Other financial information

    • Annual tax amount: $66,985

  • Source details

    • MLS ID: A11625158

    Other facts

    • Window Features: Clear Impact Glass

    • Water Source: Public

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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: Fausto Commercial Realty Consultants Inc