14255-14460 NW 22nd Ave
Opa Locka, FL 33054
The Flats on 22nd Avenue · Multifamily Property For Sale · 118 Units

Ingram Park Apartments is a 118-unit multifamily community located in Opa Locka, Florida, which is in north-central Miami-Dade County. The subject property was built in 1952 with reinforced concrete block, stucco exterior, flat roof and situated on approximately 1.463 acres of land. The property is located at 14255-14345 NW 22nd Ave & 14350-14460 NW 22nd Ave., which is a main traffic artery within the city of Opa Locka. The asset is north of NW 135th Street, south of the Palmetto Expressway (SR 826), east Douglas Rd./LeJeune Connector, west of the Florida Turnpike, SR 7/441 and I-95, minutes from the Golden Glades Interchange. The neighborhood consists primarily of multi-family buildings, condominiums and single-family homes of similar age and construction as the subject property. The investment opportunity consists of an attractive unit mix of (96) one bedroom & one bath and (22) two bedroom & one bath apartments totaling approximately 60,379 RSF. Unit amenities include fully equipped kitchens, ceramic tile floors and air-conditioning units. Water, sewer, and trash are included in the rent. Residents pay electric, cable and telephone. Residents benefit from access to public transportation, the Opa-Locka Tri-County Commuter Rail and Miami International Airport. Close by you will find many retailers, colleges and major employers like City of Opa Locka, St. Thomas University, Miami-Dade College north campus, Barry University, Opa Locka Executive Airport, which includes AVE Aviation & Commerce Center (1,700 jobs) and the newly developed Carrie Meek Business Park that includes an Amazon Distribution center (1,000 new jobs), the Opa-Locka Flea Market (1,100 jobs) and the Hard Rock Stadium, home of the NFL Miami Dolphins. In addition, there are various industrial clusters surrounding the subject property and overall 5,000+ jobs within a 3-mile radius. Also new and exciting developments are on the horizon like the Concours Club, a $220MM racetrack and private club at Opa-Locka Airport and Royal Castle is planning to build a mixed-use project that may include a hotel, about 250 rental units and retail space just NE of the subject property along State Road 9. Minutes away are popular destinations like Hialeah, Miami Lakes, Aventura, Sunny Isles, and North Miami Beach. This unique investment opportunity is ideal for a hands-on investor looking for a well-located, true value-add investment with the opportunity to implement a renovation program and improved management practices with the ability to raise rents approximately 25% above in place rents and achieve a double digit cash-on-cash return.