Whitehall Regency Condos is a multifamily community located at 14860-14872 NE 6th Avenue, Miami, in Dade County, Florida. Consisting of a total of 42 condos, the building was constructed in 1989 and converted into a condominium in 2008. This offering is for only 27 of 42 condominiums. The remaining fifteen condominiums are individually owned. The offering consists of 27 two-bedroom/one and a half bathroom units in seven garden-style walk-ups in a three-story garden style with apartments surrounding landscaped courtyards with parking on the North and South sides of the buildings. The community offers on-site parking as well as two laundry facilities. Each unit has central heating and air-conditioning, a separate electric hot-water heater, ceramic tile and real hardwood floors, spacious closets, large kitchen with granite counter-top and dining area. Each resident is responsible for electricity, while water, sewer, trash and property insurance are included in the rent. The seller of this offering manages the condominium association and the fifteen individual owners each pay $309 per month which includes property insurance, water and sewer, exterior maintenance and property management. Whitehall Regency Condos fronts on the Northeast 6th Avenue corridor of North Miami, which is one of the busiest North/South corridors in the area with a daily traffic count of 25,600 vehicles according to the Florida Department of Transportation. Northeast 6th Avenue is dominated by other apartment complexes and condominiums as well as various retail and commercial centers including a Publix Grocery Store, Walgreens and a CVS Pharmacy, all within minutes of the subject property. North Miami is bordered to the North by North Miami Beach, to the east by Biscayne Bay, to the South by Miami Shores and to the west by Opa Locka. There are a number of colleges and universities in the immediate area, including Barry University, an FIU campus, Johnson Wales University and a campus of Nova Southeastern as well as others. The property is in very good condition overall. Featuring real hardwood floor, wood kitchen cabinets, granite counter tops, marble floors in all the bathrooms for a total renovation cost of $30,000 per unit in 2007. This is a great opportunity for an investor to capitalize on a well-stabilized property. The prospective buyer has the opportunity to increase the current cash flow by raising rents and through hands-on management.
