225 NW 16th St, Miami, 33136

  • $1,575,000

Listing UP for Sale

Miami

Overview

Property ID: A11442506
  • 6250
  • Lot sqft
  • 1954
  • Year Built

Description

Presenting a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.

  • Address 225 NW 16th St
  • City Miami
  • State/county Florida
  • Zip/Postal Code 33136
  • Area Miami-dade County
  • Country United States

Details

Updated on June 1, 2024 at 10:49 am
  • Property ID: A11442506
  • Price: $1,575,000
  • Land Area: 6250 sqft
  • Year Built: 1954
  • Property Status: Listing UP for Sale

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