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O’Reillys Commercial Realty LLC
Phone: (352) 237-2222
Recent reports show that the United States remains as the Top Destination for Foreign #CRE (Commercial Real Estate) Investors. Well we present this Multifamily Investment which consists of a 21 unit apartment community. This Apartment Building is located in beautiful Bay Harbor, Florida, which sits in Miami Dade County. This Commercial Property is situated over a half acre of land and was constructed in 1966. The current roof is a flat concrete style. The rental unit mix consists of 8 one bed and one and a half bath units as well as 13 two bedroom with one and a half bath units. The property features central a/c, nice swimming pool, on site parking, concrete roof, storage units on the 4th floor for each unit and is conveniently elevator served. There is also on site laundry providing convenience for your tenants as well as extra income for the commercial property owner.
The Bay Harbor Islands Apartment Building For Sale represents the opportunity to acquire a well maintained asset in a highly desirable market with plenty of upside. Bay Harbor Islands is located in one of the most affluent zip codes in Miami-Dade county with an extremely high barrier to entry. The Market fundamentals have continued to improve with strong demand for South Florida rentals and a limited supply of units. The lack of supply and increasing demand for this Florida Apartment market will continue to drive rents up while vacancy rates will decrease. This asset presents an investor with strong cash flow during the holding period and capital appreciation as demand continues to increase, creating upward pressure on values.
Asking Price – $6,250,000
Property Type -Multifamily
Square Footage – 21,705
Price per Sq Ft – $288
Pro-Forma Cap Rate – 4.25%
NOI – $157,266
Pro-Forma NOI -$265,596
Year Built – 1966
Buildings – 1
Stories – 4
Lot Size (acres) – 0.52
Parking (spaces) – 27
Price per Unit – $297,619.05
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