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14500 NE 6th Ave
North Miami, FL 33161

Sunny Oaks Apartments · Multifamily Property For Sale · 82 Units

PROPERTY FACTS

No. Units 82
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 2.00 AC
Building Size 116,912 SF
Average Occupancy 94%
No. Stories 4
Year Built 1970
Parking Ratio 0.96/1,000 SF

UNIT AMENITIES

  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

SITE AMENITIES

  • Laundry Facilities
  • Elevator

ABOUT 14500 NE 6TH AVE , NORTH MIAMI, FL 33161

Sunny Oaks Apartments is a mixed-use community located in Miami, FL. The property consists of (1) 82-unit Apartment Building and (1) 14,200 square foot strip center leased to (2) NN tenants. The property was built in 1970 using reinforced concrete block construction with painted stucco exterior. The investment opportunity consists of a highly attractive unit mix of (1) efficiency, (63) one-bedroom & one-bathroom units and (18) two-bedroom & two-bathroom units, totaling approximately 63,073 RSF. Water, sewer and trash are included in the rent. Residents pay for electric, cable and telephone. The property boasts very large floorplans, on-site laundry, central A/C and ample parking for tenants and guests. The owners have positively impacted the value of the real estate through additional revenue charges such as application, late, pet and parking fees. The 14,200 SF strip center is currently occupied by two long term tenants. Sunny Oaks Apartments offers an investor the opportunity to purchase a well located, value-add mixed use property in the heart of one of hottest markets in the country. With rents 20-30% below the market, the new investor can implement an interior and exterior beautification program which will allow them to capitalize on the strong rents in the area. The NN leases on the retail center offer the investor guaranteed income while going through any planned re-positioning on the apartments. Simply put, the property offers great cash flow day one of acquisition with the ability to significantly impact rents through a value-add program.

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 1 - 334
1+1 63 - 739
2+2 18 - 899

PROPERTY TAXES

ZONING

Zoning Code R-6, North Miami
  • Listing ID: 14948785

  • Date on Market: 1/22/2019

  • Last Updated:

  • Address: 14500 NE 6th Ave, North Miami, FL 33161