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176 NE 68th St
Miami, FL 33138

Knight Center Apartments · Multifamily Property For Sale · 112 Units

Executive Summary

Discover an outstanding investment opportunity for Multifamily/Low-Rise/Garden investors in the Miami area. This impressive 57,969 SF property, built in 1947, features 112 residential units, strategically zoned T5-L to offer a multitude of redevelopment options. Situated on a 3.03-acre redevelopment site, the property holds the potential for 197 buildable units, making it an enticing prospect for expansion. Its strategic location, just minutes from Biscayne Blvd. and the I-95 Expressway, paired with its placement in a Qualified Opportunity Zone, enhances its investment appeal. This property presents a compelling and lucrative opportunity for investors in the thriving Miami real estate market.

PROPERTY FACTS

Price Per Unit $250,158
Sale Type Investment
Cap Rate 5.65%
No. Units 112
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 3.00 AC
Building Size 58,744 SF
Average Occupancy 97%
No. Stories 2
Year Built/Renovated 1947/2023
Opportunity Zone Yes

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Disposal
  • Heating
  • Kitchen
  • High Speed Internet Access
  • Ice Maker
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Walk-In Closets
  • Carpet
  • Handrails
  • Vinyl Flooring
  • Warming Drawer
  • Wheelchair Accessible (Rooms)
  • Window Coverings
  • Large Bedrooms

Site Amenities

  • 24 Hour Access
  • Property Manager on Site
  • Tenant Controlled HVAC
  • Renters Insurance Program
  • Hearing Impaired Accessible
  • Maintenance on site
  • Online Services
  • Vision Impaired Accessible
  • Individual Locking Bedrooms

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 64 $1,300 461 - 477
2+1 48 $1,700 592 - 605

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
01-3113-011-0010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$5,664,147

zoning

Zoning Code R-3 (Residential)
R-3 (Residential)
  • Listing ID: 31405383

  • Date on Market: 4/3/2024

  • Last Updated:

  • Address: 176 NE 68th St, Miami, FL 33138

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