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7638 N Miami Ave

8 Unit Apartment Building $1,589,000 ($198,625/Unit) 6.93% Cap Rate Miami, FL 33150

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INVESTMENT HIGHLIGHTS

Situated in the heart of Miami, FL

Close proximity to major highways

EXECUTIVE SUMMARY

Great opportunity to own an income producing property in a centrally located T-5 Zone. On N Miami Ave near I-95, minutes from Midtown, Downtown, and Miami Beach. This multi-family property consist of two structures, two story building with 4 - 1BR 1 BA and one story building with 4 - Studio apartments. Each unit has its own eletrical meters, two water meters (one for each bldg) and 4 parking spaces. The roof is a couple of years and the property is exempt from 40/50. The property is currently being operating as a mix-use of short term rental and long term rentals.

PROPERTY FACTS

Price	$1,589,000	Apartment Style	Garden
Price Per Unit	$198,625	Building Class	C
Sale Type	Investment	Lot Size	0.18 AC
Cap Rate	6.93%	Building Size	3,891 SF
Gross Rent Multiplier	11.3	Average Occupancy	100%
No. Units	8	No. Stories	2
Property Type	Multifamily	Year Built/Renovated	1925/2017
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$1,589,000
Price Per Unit	$198,625
Sale Type	Investment
Cap Rate	6.93%
Gross Rent Multiplier	11.3
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	0.18 AC
Building Size	3,891 SF
Average Occupancy	100%
No. Stories	2
Year Built/Renovated	1925/2017
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.