Multifamily Property – 12 Units in Miami Beach, FL – 6.4% Proforma Cap Rate

Category: Multifamily

Price:$2,730,000

Location: Miami Beach, FL

Year Built: 1947

Days on Market: 94

Description:

Offered at a 6.4% Proforma Cap, the property is currently 92% occupied. The property is part of a 10-property portfolio all located in South Beach. It can be purchased individually or as part of the portfolio. The property has 8 studios and 4 1BR units. It has over $300,000 in combined CapEx between the current and previous owner. Most CapEx has been focused in common area/exterior elements. The property also features common area laundry.

- There are 1 fully renovated & 7 partial renovated units - Property includes community laundry - $300k+ in CapEx between current & previous owner

Listing Code: 1117430016