516 SW 9th Ave

• - New Roof in 2022
• - Concrete roof
• - Individually metered for water and electricity
• - Excellent in-place income totaling $3,900

Property Description

MSP Group LLC is proud to be the exclusive listing broker for the duplex located a 516 SW 9th Avenue Homestead, FL 33030 just south of 4th Street that is currently undergoing a major revitalization through the city of Homestead CRA. The property is in proximity to downtown Homestead and all the retail and employment that is located on US-1. Downtown Homestead is home to several retail locations such as Homestead Station, Homestead Plaza, Homestead Towne Square, as well as public service buildings including the Homestead Police Station and City Hall. Additionally, higher education is available. The property is made up of 3 Bedroom 1 bathroom unit currently rented at $2,100 and a 2 Bedroom 1 Bathroom unit rented at $1,800. The property has a flat concrete roof that was replaced in 2022 providing significant saving on insurance. The property is also individually metered for both water and electricity providing and leaving the landlord with very few expenses. Taking into account the new owners property taxes this property is being offered at an attractive cap rate north of 7.5%.