Salem House: Prime 32-Unit Apartment Complex in North Miami with Assumable Financing and Value-Add Potential

Located in the heart of North Miami, Salem House is a 32-unit apartment complex featuring a desirable unit mix: 15 one-bedroom/one-bathroom apartments, 15 two-bedroom/one-bathroom apartments, and 2 two-bedroom/two-bathroom apartments. Residents enjoy spacious living spaces, on-site laundry facilities and convenient parking.

Salem House is ideally situated at 13155 NE 6th Avenue, nestled between Northeast 125th Street and Northeast 135th Street, two key east-west corridors in northeast Miami-Dade County. The property offers easy access to major thoroughfares, including Interstate 95 and Biscayne Boulevard, making travel throughout Miami effortless.

The property is available for $7,800,000, which translates to $243,750 per unit or approximately $250 per square foot. With many tenants currently on month-to-month leases, a new owner has the opportunity to quickly adjust rents to market rates, potentially enhancing returns.

ASSUMABLE FINANCING AVAILABLE: 52% LTV, 3.95% interest rate, maturity in 2029.