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Gelfand Realty Miami Properties for Sale - Income/MultiFamily for Sale

14280 NE 6TH AVE, NORTH MIAMI, FL 33161

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Income/MultiFamily - for Sale

14280 NE 6TH AVE, NORTH MIAMI, FL 33161

Asking Price$3,950,000 Change Price$150,000

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  • Days on market:

    134 day(s)

  • Original Price:

    $3,995,000

  • Tax Legal Description:

    19 52 42 RUCKS PARK PB 44-97 LOT 7 & LOT 8 LESS S21FT BLK 1 LOT SIZE 17416 SQUARE FEET OR 20761-1057/21649-376 1002 6 COC 22011-2089 01 2004

  • Property Type:

    Income/MultiFamily

  • Lease Term Remaining:

    1 To 3 Year Lease

  • Construction Type:

    Concrete Block Construction

  • Roof:

    Built-Up

  • Cooling Description:

    Other

  • Heating Description:

    Other

  • Floor Description:

    TileVinylTerrazzo

  • Special Listing Conditions:

    Sale

Description

$3,950,000

Welcome to royal oaks apartments, a turnkey 19-unit multifamily gem in north miami. this fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split acs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. the property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. the 40-year certification is completed, and the roof has been resealed, ensuring minimal capex. fully occupied, it generates nearly $380,000 annually, providing a 7% cap rate return with potential for increased returns by adjusting rents to market rates. situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.
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