1427 NW 2nd Avenue
Property Description
4 lot portfolio. 9 unit building with parking on a 12k SF lot produces $14.45k per month in actual rent. 3 platted lots sit on the same block, bringing the site to 30k SF / 0.69 acres under uniform 3000 Multi-Family General zoning. Actual rents $14.45k monthly $173.4k GPI. OpEx $19.3k. NOI $154.1k. Mix: two 2bed 2bath, two 2bed 1bath, four 1bed 1bath, one efficiency. RM-20 research allows 11 additional residential units on this vacant land, 4 stories, parking of 1.25 to 1.5 spaces per unit, and 45% lot coverage. Potential rezoning due to nearby transit stop can add additional units. Upgrades include: new roof, impact windows and doors, updated 220 electric, full sprinkler. Interior reno includes new tile, appliances, and cosmetics. Request the Offering Memo for additional information.
Broker Details
Real Broker, LLC (855) 450-0442
MLS ID: 631004043 State License Number: 3659026
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,399,000 |
| No. of Units: | 9 |
| Year Built: | 1961 |
| Lot Size: | 5,206.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $266,556 |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-RMLSFL-B26077350
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