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Property Description

Presenting a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.

Address Map
FL
Miami-Dade County
Miami
33136
225 NW 16th St
W81° 48' 2.4''
N25° 47' 25.6''
MLS Addon
Building & Land
All Cash, Owner Will Carry, Assumable
1
City Street
Sale
Free Standing
$5,578
2022
Click Here
Public
6107
1
26/02/2024 23:09:33

225 NW 16th St, Miami, Florida 33136

$1,575,000
6,250 size sq.ft.
Listing ID #A11442506
Basic Details
Property Type Commercial Sale
Listing Type For Sale
Listing ID A11442506
Price $1,575,000
Year Built 1954
Days on Market 183
Building Area 1
Status Active
Property SubType Income/multifamily
Lot Area 6,250 Sqft
List Date 2024-02-27
On Market Date 24/08/2023
Elena Beck
MiamiInvestrealty
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