Salem House | 13155-13175 NE 6th Ave
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Salem House 13155-13175 NE 6th Ave
32 Unit Apartment Building $7,800,000 ($243,750/Unit) 6.58% Cap Rate North Miami, FL 33161
Executive Summary
Fausto Commercial Realty, as the exclusive listing agent, proudly presents Salem House for sale. Located in the heart of North Miami, Salem House is a 32-unit apartment complex featuring a desirable unit mix: 15 one-bedroom/one-bathroom apartments, 15 two-bedroom/one-bathroom apartments, and 2 two-bedroom/two-bathroom apartments. Residents enjoy spacious living spaces, on-site laundry facilities and convenient parking. Salem House is ideally situated at 13155 NE 6th Avenue, nestled between Northeast 125th Street and Northeast 135th Street, two key east-west corridors in northeast Miami-Dade County. The property offers easy access to major thoroughfares, including Interstate 95 and Biscayne Boulevard, making travel throughout Miami effortless. The property is available for $7,800,000, which translates to $243,750 per unit or approximately $250 per square foot. With many tenants currently on month-to-month leases, a new owner has the opportunity to quickly adjust rents to market rates, potentially enhancing returns. ASSUMABLE FINANCING AVAILABLE: 52% LTV, 3.95% interest rate, maturity in 2029.
Property Facts
| Price | $7,800,000 | Building Class | C |
| Price Per Unit | $243,750 | Lot Size | 0.88 AC |
| Sale Type | Investment | Building Size | 24,654 SF |
| Cap Rate | 6.58% | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.03/1,000 SF |
| Apartment Style | Garden |
| Price | $7,800,000 |
| Price Per Unit | $243,750 |
| Sale Type | Investment |
| Cap Rate | 6.58% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 24,654 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.03/1,000 SF |
Unit Amenities
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | $1,685 | 750 |
| 2+1 | 15 | $2,008 | 1,000 |
| 2+2 | 2 | $2,000 | - |
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Walk Score ®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 06-2230-020-0110 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,267,000 |
PROPERTY TAXES
Parcel Number
06-2230-020-0110
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,267,000
zoning
| Zoning Code | R-5 (Multifamily) |
| R-5 (Multifamily) |
Contacts
-
Vicente Rodriguez -
Carlos Fausto Miranda -
Fausto Commercial Realty Consultants
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Salem House | 13155-13175 NE 6th Ave
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