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PRINCETON TOWNHOMES 24705 SW 129th Ave 15 Unit Apartment Building $6,000,000 ($400,000/Unit) 5.50% Cap Rate Homestead, FL 33032
Investment Highlights
- 15 newly constructed townhomes completed in 2023 in the rapidly growing Princeton submarket.
- 100% occupied residential investment with modern layouts and strong tenant appeal.
- Desirable three-bedroom floor plans ranging from approximately 1,400 SF to 1,550 SF.
- Located near major Lennar and DR Horton developments in high-growth South Miami-Dade.
Executive Summary
Rare newly constructed multifamily investment opportunity in one of South Florida's fastest-growing residential corridors. The property consists of 15 modern two-story townhomes situated on approximately 32,670 SF of land. Featuring highly desirable three-bedroom floor plans ranging from approximately 1,400 SF to 1,550 SF, the community is positioned to benefit from continued growth fueled by major nearby developments from Lennar, DR Horton, and other national homebuilders throughout the Princeton and South Dade markets.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Crown Molding
- High Speed Internet Access
- Yard
- Dining Room
Site Amenities
- Controlled Access
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 15 | $2,875 | - |
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 30-6923-000-1142 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,691,710 |
Property Taxes
Parcel Number
30-6923-000-1142
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,691,710
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