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613 NW 10th Ave
Miami, FL 33136
Lydia Apartments · Multifamily Property For Sale
·
9 Units
Property Facts
| No. Units | 9 | Lot Size | 0.11 AC |
| Property Type | Multifamily | Building Size | 3,300 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1974 |
| Building Class | C | ||
| Zoning | T4 R | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,300 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | T4 R |
About 613 NW 10TH AVE , MIAMI, FL 33136
Lydia Apartments is a 9-unit, multifamily community located in Miami, FL, which is in Miami-Dade County. The subject property consists of two contiguous buildings, each two-stories built in 1965 & 1974 using reinforced concrete block construction with painted stucco exterior. The subject property is located at 613 NW 10th Ave. and 985 NW 6th St., just south of The Dolphin Expressway, one block west of the Miami River, north of Flagler St. and "Calle Ocho" and west of NW 12th Ave. (SR 933), a main traffic artery traveling north-south through Miami-Dade County. The immediate neighborhood consists of primarily multi-family buildings of similar age and construction as the subject property. The investment opportunity consists of a unit mix of (2) one-bedroom & one bath, and (7) two-bedroom & one-bath apartments, totaling approximately 5,420 RSF. All units offer fully equipped kitchens, balconies in select units and a combination of wall & central A/C's. Building also offers ample parking for residents and guests. Water, sewer and trash are included in the rent. Residents pay for electric, cable and telephone. The asset is in the heart of "East Little Havana", a highly desirable rental market located north west of downtown Miami and Brickell City Centre, the $1.05 billion mixed use project consisting of national brand retailers, hospitality, and restaurants. Few blocks south is the world famous "Calle Ocho", which serves as the hub of tourism, social, cultural and festive events. Miami International Airport is located approximately six miles west of the property and about six blocks from Marlins Stadium, home of the Miami Marlins. Lydia Apartments offers an investor the opportunity to purchase an irreplaceable, value-add investment property in one of the strongest rental markets in Miami-Dade County, where vacancies are virtually non-existent. Current rents at Lydia Apartments are well-below submarket averages. This investment opportunity provides a new owner the ability to increase rents conservatively 28% by implementing a capital improvement program to building exteriors, common area amenities and unit interiors, plus improved management.
Property Taxes
| Parcel Number | 01-4102-002-0020 | Improvements Assessment | $418,125 |
| Land Assessment | $346,875 | Total Assessment | $765,000 |
Property Taxes
