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Property Description

THIS IS A 8 UNIT 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.

Features
3
Address Map
FL
Miami-Dade County
Miami
33136
225 NW 16th St
ERICKSONS SUB
W81° 48' 2.4''
N25° 47' 25.6''
ERICKSONS SUB
MLS Addon
Other
All Cash, Owner Will Carry, Owner Hold 2nd Mortgage, Assumable, Owner Financing Less 20k Down, Owtb Wrap
1
Gardener, Trash Collection
2
Quadruplex, Fourplex
$5,578
2022
Click Here
6107
0
13/10/2023 16:16:31

225 NW 16th St, Miami, Florida 33136

$1,575,000
3,528 size sq.ft.
Listing ID #A11469018
Basic Details
Property Type Residential Income
Listing Type For Sale
Listing ID A11469018
Price $1,575,000
Square Footage 3,528 Sqft
Year Built 1954
Days on Market 199
Building Area 3,528 Sqft
Status Active
Property SubType Quadruplex
On Market Date 01/09/2023
Elena Beck
MiamiInvestrealty
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