Property Description
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
Features
Patio
12
Laundry Facility
Address Map
FL
Miami-Dade County
North Miami
33161
12240 NE 5th Ave
BISCAYNE PARK ESTATES
W81° 48' 42.7''
N25° 53' 16.4''
BISCAYNE PARK ESTATES,8 Unit Rental Income
MLS Addon
Other
All Cash, Conventional, Exchange
1
8
Other Rent Incl
1
Quadruplex, Fourplex
$14,702
2022
Municipal Water
3700
4
06/02/2024 13:29:19
12240 NE 5th Ave, North Miami, Florida 33161
$1,900,000
4,479 size sq.ft.
Listing ID #A11446202
Basic Details
Property Type Residential Income
Listing Type For Sale
Listing ID A11446202
Price $1,900,000
Square Footage 4,479 Sqft
Year Built 1951
Days on Market 199
Building Area 4,479 Sqft
Status Active
Property SubType Quadruplex
On Market Date 01/09/2023
MiamiInvestrealty
