2379 NE 172nd St
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2379 NE 172nd St
5 Unit Apartment Building $1,835,000 ($367,000/Unit) 5.20% Cap Rate North Miami Beach, FL 33160
Investment Highlights
- Two stories 6 Units BOUTIQUE BUILDING. Great location close to Aventura, beaches, parks, shopping centers, schools, hospitals.
- The unit mix is, 3 units 2/1 and 3 units 1/1. All units a steady cash flow. High demand for quality rentals in this Area
- Low operating cost. Easy to operate with good team of contractors to provide service when required.
- New Metal Roof, Impact Windows and Doors and New Paint.
- his Property has proven strong performance. One Year Leases in place, some long term tenants.
- Additional Income with laundry room.
Executive Summary
Two Story 6 Units BOUTIQUE BUILDING. Excellent location near Aventura, the Beaches, Parks, Shopping Centers, Schools, Hospitals, Bright line Train and Bus Stations. Great neighborhood. Half Block from Biscayne Boulevard. New Metal Roof, Impact Windows and Doors and New Paint. Remodeled interiors in 90% of the units. Central A/C and parking spaces. CBS & Concrete Block construction building.The unit mix is, 3 units 2/1 and 3 units 1/1. All units a steady cash flow. High demand for quality rentals in this Area. This Property has proven strong performance. One Year Leases in place, some long term tenants. Room to increase Rent. Low operating cost. Easy to operate with good team of contractors to provide service when required. Additional Income with laundry room. DO NOT DISTURB TENANTS. Showing the Property by appoiments only. Please send me the Inquires via email or Text . Additional information Attached. Broker is co-owner of the property.
Financial Information
Terms: All Cash, Conventional/Refinance, Owner Financing
Tax Amount: $16,465 Tax Year: 2023
Possession Info: At Closing
Total Mortgage: $0
Gross Income: $127,860 Gross. Other Income: $2,160 Total Gross Income : $130.020.00
Net Op Inc: $95,345
Trash Exp: $ 2,244
Acct/Legal Exp: $250 Supplies Exp: $50
Utilities Exp: $ 4,848 Insurance Exp: $ 6,498 Maint/Rpr Exp: $1,200
Service Exp: $3,120 RE Taxes: $16,465
Total Exp: $35,675
Source of Exp: Owner Provided
Financial Information
Terms: All Cash, Conventional/Refinance, Owner Financing
Tax Amount: $16,465 Tax Year: 2023
Possession Info: At Closing
Total Mortgage: $0
Gross Income: $127,860 Gross. Other Income: $2,160 Total Gross Income : $130.020.00
Net Op Inc: $95,345
Trash Exp: $ 2,244
Acct/Legal Exp: $250 Supplies Exp: $50
Utilities Exp: $ 4,848 Insurance Exp: $ 6,498 Maint/Rpr Exp: $1,200
Service Exp: $3,120 RE Taxes: $16,465
Total Exp: $35,675
Source of Exp: Owner Provided
Property Facts
Unit Amenities
- Air Conditioning
- Microwave
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Freezer
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,150 | 844 |
| 2+1 | 1 | $2,095 | - |
| 2+1 | 1 | $1,960 | - |
| 1+1 | 1 | $1,500 | - |
| 1+1 | 1 | $1,400 | - |
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Walk Score ®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 07-2209-005-0860 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $756,797 |
PROPERTY TAXES
Parcel Number
07-2209-005-0860
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$756,797
zoning
| Zoning Code | RM-23 (Excellent location near Aventura, the Beaches, Parks, Shopping Centers, Schools, Hospitals, Bright line Train and Bus Stations. Great neighborhood.) |
| RM-23 (Excellent location near Aventura, the Beaches, Parks, Shopping Centers, Schools, Hospitals, Bright line Train and Bus Stations. Great neighborhood.) |
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Bustamante Investment Group LLC
2379 NE 172nd St
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