Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 14 unit and add 6 units to the existing structure, plans available could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. Great opportunity SELLER FINANCE UP TO 30 %It is rented 25% below market value. Pro forma calculated by Miami Dade Housing 2024
Property Details
Price:
$1,900,000
MLS #:
A11446202
Status:
Active Under Contract
Beds:
0
Baths:
0
Type:
Multi Family
Subtype:
Quadruplex
Subdivision:
BISCAYNE PARK ESTATES,8 Unit Rental Income
City:
North Miami
Listed Date:
Sep 1, 2023
State:
FL
Finished Sq Ft:
4,479
ZIP:
33161
Year Built:
1951
Units:
8
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Schools
Interior
Cooling
Other
Flooring
Ceramic Floor, Tile
Heating
Other
Exterior
Architectural Style
Other
Exterior Features
Barbeque
Parking Spots
12
Roof
Other, Shingle
Financial
Buyer Agent Compensation
3%%
Tax Year
2022
Taxes
$14,702
Map
Community
- Address12240 NE 5th Ave North Miami FL
- CityNorth Miami
- CountyMiami-Dade County
- Zip Code33161
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