609 SW 10th St 2,500 SF Specialty Building Offered at $3,354,629 at a 7.60% Cap Rate in Homestead, FL 33034

RARE opportunity to acquire a unique pool of townhouses WITH NO HOA, located in the up-and-coming neighborhood of Florida City, FL. These homes are strategically located just 6 blocks from the City Hall and Florida City Police Department, 5 minutes away from dozens of restaurants, shops, and Florida’s Turnpike (Entrance #1). Moreover, ALL 9 TOWNHOMES ARE WITHIN A 2-BLOCK RADIUS, making it ideal to manage by any Owner-Manager or Property Manager.
Most of our Tenants’ rents covered by Section 8 or Camillus House, making this a virtually recession/pandemic/unemployment-proof investment backed by the US Government or by one of the largest non-profit organizations in the Nation. All townhouses are rented but two that have recently had upgrades done and are in-between tenants.
All townhouses were built in 2007 and feature about 1,800sqf. under AC, have ample front-yard and back-yard, covered garage and driveway for a 2nd car. The mix includes ONE five-bedrooms townhouse (1,941sqf.) and EIGHT four bedrooms (approx. 1,800sqf.). There is NO HOMEOWNER’S ASSOCIATION, so applications and approvals are direct, quick and easy. You will never have to pay monthly HOA fees, assessments or deal with life-draining Management Offices!
The area is experiencing rapid growth, driven by several new development projects spearheaded by LENNAR and RISING TIDE DEVELOPMENT, among other Developers. These initiatives are transforming both the residential and commercial sectors, attracting new businesses and residents, and fostering an increasingly vibrant community in Florida City. The area offers a wide array of convenience stores within a 5-minutes' drive: Walmart, Publix, Home Depot, Starbucks, Walgreens, Crackel Barrel, Best Buy, and dozens of fast-food Restaurants and Banks. The Police Department and City Hall buildings (where water and other utilities can be paid) are located just 6 blocks in a straight line to our townhouses, making the location safe and extremely convenient for our tenants. Situated only 4 minutes from the Turnpike (Exit 1) and 6 minutes from the Overseas Highway to the Keys, the portfolio benefits from exceptional accessibility, reinforcing its value as a prime midpoint between key employment centers and lifestyle destinations
Just HURRY! We promise you this deal won't last long!!
NOTE: Financed offers BASED ON APPRAISAL CONTINGENCY will NOT be considered.