225 NW 16th St, Miami FL 33136,Miami,Miami-Dade County,Commercial Sale

  • $1,575,000
225 NW 16th St, Miami FL 33136
Commercial Sale Active

225 NW 16th St, Miami FL 33136,Miami,Miami-Dade County,Commercial Sale

225 NW 16th St, Miami FL 33136
  • $1,575,000

Overview

  • Income/MultiFamily
  • Property Type
  • 1954
  • Year Built

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 16th St
  • City Miami
  • State/county Miami-Dade County
  • Zip/Postal Code 33136

Details

Updated on January 24, 2024 at 8:21 pm
  • Property ID: A11442506
  • Price: $1,575,000
  • Year Built: 1954
  • Property Type: Income/MultiFamily
  • Property Status: Commercial Sale

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Marielle Michel

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