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6955 Rue Vendome
Miami Beach, FL 33141
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Renovated/turnkey 6-unit multifamily/6 ASSIGNED PARKING SPACES steps from units (HUGE RENTER DEMAND) in HIGH DEMAND location
- Updated rent roll- Unit 1 renewal (3/2023-2024) increased $300/month to $1800 + unit 4 increased $350/month to $1850 and unit 2 leasing at $2,100/mth
- Proforma forecast w/4 units (total 10)- $241,500 GI equating to over $3.51M valuation at 6% CAP (2X $1.7M discounted price)
- Owner CAPEX since December 2023 over $75K (new main sewer line, 2 new ACs, etc.- ref OM)- +$200K since 2018
- IN-PLACE NOI- $104,839.| 6% CAP w/additional upside rents + value-add (proforma +12.06% CAP).
- COMPS AND COMPETITIVE MARKET ANALYSIS INCLUDED IN LISTING RANGE OF $350k/DOOR TO +$400k/DOOR (REF PAGE 3 PDF)
Property Facts
| No. Units | 6 | Building Size | 3,552 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1936 |
| Building Class | C | Parking Ratio | 1.69/1,000 SF |
| Lot Size | 0.16 AC | ||
| Zoning | RM-1 - RM-1: The Maximum FAR is 1.25, Maximum Density is 60 dwelling units/acre (9.79 units total) and height up to 5 stories (RM-1 regs link below) | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,552 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1936 |
| Parking Ratio | 1.69/1,000 SF |
| Zoning | RM-1 - RM-1: The Maximum FAR is 1.25, Maximum Density is 60 dwelling units/acre (9.79 units total) and height up to 5 stories (RM-1 regs link below) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,800 | 550 |
Property Taxes
| Parcel Number | 02-3210-013-0670 | Improvements Assessment | $468,320 |
| Land Assessment | $713,100 | Total Assessment | $1,181,420 |
Property Taxes
Parcel Number
02-3210-013-0670
Land Assessment
$713,100
Improvements Assessment
$468,320
Total Assessment
$1,181,420
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