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Morningside Homes Investment Portfolio

8 Specialty Properties Offered at $20,000,000 in Miami, FL

Investment Highlights

  • Residential income opportunity with 8 out of 8 homes currently occupied
  • All 8 homes are newly renovated with pools and are all close to the water
  • Highly desirable area to live with significant capital appreciation

Executive Summary

A portfolio of 8 Newly renovated single family homes in the highly desirable area of Morningside. All homes are currently rented. Morningside is a quit and cozy historical residential gated community located in the northern part of Miami alongside Biscayne Bay; running from NE 50th Terrace to NE 60th Street. This highly sought after gated community is comprised of single-family homes.
All 8 homes are near the water, and the 42-acre Morningside park making it perfect for the avid tennis player, the runner/biker/rollerblader, the family with kids and the dog lover. Modernity here is closely intertwined with naturalness and simplicity. Morningside contains a wealth of Mediterranean, Art Deco, and vernacular style houses that reflect the diversity and direction of architectural design. Coined as Miami’s first historic district incorporated in 1984 and registered in the National Register of Historic Places in 1992, Morningside is one of the few neighborhoods in Miami-Dade County whose architecture is still preserved. Wide tree-lined boulevards make for a peaceful backdrop and are perfect for riding bikes after school and taking a long jog on weekend mornings. Encompassing over 100 acres and comprising of over 218 single family homes. Morningside is filled with young families and a profusion of lush parks. Nearby verdant grounds that are picturesque for picnics and play dates.
The neighborhood also features kayak rentals and sailing water sports are available on weekends. Also, children's camps are organized here — summer, winter and spring. There are also basketball courts, a swimming pool, a football field, boat rental, and special picnic areas.

Taxes & Operating Expenses (Actual - 2022) Click Here to Access

Annual
Gross Rental Income $99,999
Other Income -
Vacancy Loss -
Effective Gross Income $99,999
Taxes $99,999
Operating Expenses $99,999
Total Expenses $99,999
Net Operating Income $99,999

Taxes & Operating Expenses (Actual - 2022) Click Here to Access

Gross Rental Income
Annual $99,999
Other Income
Annual -
Vacancy Loss
Annual -
Effective Gross Income
Annual $99,999
Taxes
Annual $99,999
Operating Expenses
Annual $99,999
Total Expenses
Annual $99,999
Net Operating Income
Annual $99,999

Property Facts

Price $20,000,000
Price / SF $1,148 / SF
Sale Conditions
Build to Suit
  • Bulk/Portfolio Sale
Cap Rate 4.03%
Sale Type Investment
Status Active
Number of Properties 8
Individually For Sale 0
Total Building Size 17,429 SF
Total Land Area 1.47 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
411 NE 52nd St, Miami, FL 33137 Specialty 1,895 SF 1941 -
440 NE 53rd St, Miami, FL 33137 Specialty 2,436 SF 1940 -
485 NE 55th Ter, Miami, FL 33137 Specialty 2,068 SF 1949 -
521 NE 50th Ter, Miami, FL 33137 Specialty 2,264 SF 1952 -
555 NE 52nd St, Miami, FL 33137 Specialty 2,245 SF 1952 -
621 NE 56th St, Miami, FL 33137 Specialty 2,359 SF 1953 -
630 NE 52nd St, Miami, FL 33137 Specialty 1,786 SF 1947 -
655 NE 50th Ter, Miami, FL 33137 Specialty 2,376 SF 1953 -
Show More > < Show Less
  • Listing ID: 27546695

  • Date on Market: 1/19/2023

  • Last Updated:

  • Address: Morningside Homes Investment Portfolio, Miami, FL

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