100% TENANT OCCUPIED, 4 UNIT BUILDING, LARGE 2 BED 1 BATH FLOOR PLAN, PER DADE COUNTY APPRAISER AVERAGE SIZE IS 953 SQ PER UNIT. GREAT ADDED VALUE OPPORTUNITY, CURRENT GROSS RENT ON THIS PROPERTY ARE UNDER MARKET RENTS AT GROSS INCOME OF $55,200. 2 UNITS RENT FOR 1200 AND THE OTHER 2 FOR $1100. CAN EASILY INCREASE RENTS AFTER RENOVATIONS $1900+ A MONTH EACH UNIT FOR A GROSS ANNUAL RENT TOTAL OF $91,200 UPSIDE TO INCREASE CAP TO 7.8% + AFTER EXPENSES AND REPAIR VALUE. SHORT WALK TO THE EAST TO THE BEACH/ATLANTIC OCEAN, RESTAURANTS, SHOPS, COLLINS AVE HOTELS, LOUNGES. LESS THAN 1 MILE NORTH OF WALKING DISTANCE TO SURFSIDE & THE BAL HARBOR SHOPS. MINS FROM SOUTH BEACH NIGHTLIFE, SHOPPING & RESTAURANTS. 4 ST PARKING SPACES. PLEASE DO NOT DISTURB THE TENANTS
|Price Reduced from $920,000 to $899,900|
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Listing information last updated on February 16th, 2020 at 8:37pm EST.