Search Results

2275 Northwest 23rd Street

Home » All Multifamily Properties » Florida & Gulf Coast » 2275 Northwest 23rd Street

Address: 2275 NW 23rd St, Miami, FL 33142, USA

Florida & Gulf Coast + Apartment Buildings

Created date: December 1, 2024

Date last updated: January 11, 2025

This is a great investment, with a great upside potential, same ownership for over 20+years. Current rents are 15% below market rents, going in cap rate at the listed price 5.77% with a projected cap rate of 6.43%+.

Property Description

This 10-unit apartment building is located in the thriving area of Allapattah Miami Florida. The property boasts a great unit mix, (8-2/1) and (2-1/1) all units have large square footage, built in 1960cbs-concrete block and stucco construction. The 40/10-year recertification was completed in 2021, and it's good for the next ten years. Some selected units have central A/C, others have mini splits A/C or window A/C. Selected units have updated kitchens, 3 units have access to a private backyard patio area. The property does have a common area laundry room facility, currently not in operation, the laundry facility could be re-open for extra income and the tenant’s convenience. A new roof was just installed on 11-2024 with permits. Plenty of parking available, 6-tandem spaces in front of the building, 7-spaces on both sides of the building, plus street parking available. This is a great investment, with a great upside potential, same ownership for over 20+years. Current rents are 15% below market rents, going in cap rate at the listed price 5.77% with a projected cap rate of 6.43%+. The property is centrally located in Miami close proximity to major employment, entertainment, and schools. There is a strong demand for rental units in Allapattah Miami FL making this investment attractive for investors looking to capitalize on well positioned and located apartments building.

Unavailable

Request Information

Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,200,000
No. of Units:	10
Year Built:	1960
Lot Size:	10,395.00 Sq ft
Opportunity Zone:	No
Price per unit:	$220,000
Property Website	Click Here