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Browse More Listings in Multifamily For Sale, Miami, FL or Florida

Multifamily Property For Sale

New World Condo Units

251 NW 177 Street, Miami, FL 33169

One of three buildings located at Association

Price:
$675,000
No. Units:
16
Building Size:
7,510 SF
Price/Unit:
$42,187.50
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
9%
Gross Rent Multiplier:
5.68
Occupancy:
100%
No. Stories:
2
Year Built:
1973
Parking Ratio:
1.10 / 1,000 SF
Find Out More...

Last Verified 10/30/2009 Listing ID 16265701

Description

Offering consists of 16 condominium units (15 studios and 1 2/2) located in the heart of Miami Gardens, FL at the Golden Glades Interchange. All unit are currently rented for 1-year leases with rents starting at $595 per month. Gated access, assigned parking, new roof are just some of the property's asset attributes.

The area offers multiple apartments units which provides continuous access to new tenants and allows rents to maintain thier current levels. Access to all major employers in Miami and Ft Lauderdale are less than 20 minutes away. Across from brand new Super Wal-Mart location. Great access to transportation routes.

Financial Summary

Unit Mix Information

Proforma
Scheduled Gross Income
$118,860
Effective Gross Income
$115,294
Operating Expenses
$54,679
Net Operating Income
$60,615
Pre-Tax Cash Flow
$60,615

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
Studio Apts	15	$595	440
Two Bedroom	1	$950	880

Map of 251 NW 177 Street, Miami, FL 33169 (Miami-Dade County)

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Created 6/5/2009

Additional Information for 251 Nw 177th Street, Miami, FL 33169

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - New World Condo Units

251 NW 177 Street, Miami, FL, 33169