This Multifamily Property is Off-Market.

11020 NE 14th Avenue
North Miami, FL 33161 ·

5 Units · Multifamily For Sale

N/A

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Multifamily Property For Sale

Price N/A Cap Rate 7%
No. Units 5 Occupancy 100%
Building Size 2,079 SF No. Stories 1
Property Type Multifamily Year Built 1953
Property Sub-type Garden/Low-Rise Lot Size 9,165 SF
Property Use Type Investment APN / Parcel ID 30-2232-016-0100
Listing ID: 16020348 Date Created: 12/09/2008 Last Updated: 11/30/2009

Description

11020 Northeast 14th Avenue is a five-unit one-story property with a
unit mix consisting of two one-bedroom units and three-studio
apartments . The property is well maintained, features a barrel tile roof
and is currently 100 percent occupied with rents considerably below
market.
11020 Northeast 14th Avenue is located only steps from Biscayne
Boulevard (US-1) in the heart of North Miami, which is one of the
strongest rental submarkets in South Florida due to it's affordability
relative to neighboring communities. The current state of the South
Florida housing market has forced many North Miami residents to reenter
the market as renters create an increased demand for affordable
housing. North Miami's vacancy rates remain low (+/- three percent)
while the rental rates are increasingly strong.
The asset offers a low barrier to entry and the opportunity to purchase a
stabilized asset with the ability to realize true long term upside.

This property is part of a 10 building/ 83-unit portfolio which may be
sold separately.

Highlights

  • 100 Percent Occipied
  • Well Maintained
  • Excellent Location within Close Proximity to US-1
  • Upside in Rents
  • High Occupancy North Miami Rental Market
  • Ample Parking

Research

11020 NE 14th Avenue, North Miami, FL 33161 (Miami-Dade County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

North Miami Market Trends - Asking price index trends, sale price trends, asking rent trends

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