10,811 SF Turnkey 19-unit Multifamily Gem

  • $3,800,000
Featured For Sale
14280, Northeast 6th Avenue, Shady Oaks Trailer Park, North Miami, Miami-Dade County, Florida, 33161, United States
  • Multi-family
  • Property Type
  • 19
  • Units
  • 17,416
  • ft²
  • 10,811
  • Lot ft²
Featured For Sale
10,811 SF Turnkey 19-unit Multifamily Gem
14280, Northeast 6th Avenue, Shady Oaks Trailer Park, North Miami, Miami-Dade County, Florida, 33161, United States
  • $3,800,000

Details

Updated on September 20, 2024 at 12:29 pm
  • Price: $3,800,000
  • Property Size: 17,416 ft²
  • Land Area: 10,811 ft²
  • Units: 19
  • Property Type: Multi-family
  • Property Status: For Sale

Description

We are pleased to present Royal Oaks Apartments, a turnkey 19-unit multifamily gem located in the heart of North Miami. This fully renovated property includes 16 units that are 1 Bed/1 Bath each and 3 spacious studio units, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and most units have private balconies. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance, ensuring low expenses and maximum tenant convenience.

The 40-year certification has been completed and the roof has been resealed, providing minimal CapEx in the years to come. Currently fully occupied, the property generates nearly $380,000 annually, offering a 7% Cap rate return from day one with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, the property allows for up to 40 units to be built as a potential redevelopment play, offering immediate returns and significant future potential.

Property Documents

14280 NE 6TH AVE-ELEVI-RC-FLYER
  • Address 14280, Northeast 6th Avenue, Shady Oaks Trailer Park, North Miami, Miami-Dade County, Florida, 33161, United States
  • State/county Miami-Dade County
  • Zip/Postal Code 33161

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Ryan Carney
  • Ryan Carney