7155 NW 17TH AVE

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Address: 7155 NW 17TH AVE , Miami, Florida, US
Created date: November 27, 2023
Date last updated: November 27, 2023

Property Description

An exclusive listing for a 24-unit multifamily Priced at $4,680,000, a recent appraisal values it at $5,375,000 as of August 4th, 2023, indicating substantial investment potential. The property includes 16 one-bedroom and 8 two-bedroom units, achieving a 100% occupancy rate with a stable income stream. The current owner's $460,000 investment ensures the property's top condition. Market rates suggest potential income growth, with day one cap rate at 5.79% and the possibility to increase to 7% within a year. The location, near Downtown Miami and major districts, offers accessibility and convenience. Proximity to the Liberty Square project by the Related Group adds value, promising a neighborhood transformation with amenities like art, education, health centers, and parks. The property features 21 parking spaces, enhancing its appeal. Overall, it presents a unique investment opportunity with immediate returns and long-term growth in a rapidly developing Miami area.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Apartments
Price: $4,680,000
No. of Units: 24
Cap Rate: 7%
Building Size: 15,210 Sq ft
Lot Size: 27,400.00 Sq ft
Opportunity Zone: No
Price per unit: $195,000
Address: 7155 NW 17TH AVE , Miami, Florida, US

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