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- LoopNet Team
8400 NW 25th Ave
Miami, FL 33147
Elizabeth Gardens Homes · Multifamily Property For Sale
·
140 Units
INVESTMENT HIGHLIGHTS
- Directly across the street from Northside Shopping Center (over 485,000 SF, 99% occupancy)
- Commercial and residential opportunities-high density zoning.
- Being offered for sale as a re-development opportunity with existing cash-flow.
- 65 buildings spread over 12 acres.
- 306' linear frontage on NW 27th Avenue.
PROPERTY FACTS
| No. Units | 140 | Building Size | 107,203 SF |
| Property Type | Multifamily | Average Occupancy | 0% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1968 |
| Building Class | F | Parking Ratio | 1.19/1,000 SF |
| Lot Size | 11.85 AC | ||
| Zoning | UC-MC, UC-MM | ||
| No. Units | 140 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | F |
| Lot Size | 11.85 AC |
| Building Size | 107,203 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 1.19/1,000 SF |
| Zoning | UC-MC, UC-MM |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Instant Hot Water
- Lawn
- Porch
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Business Center
- Fenced Lot
- Property Manager on Site
- Gated
- Gameroom
- Laundry Service
- Maintenance on site
ABOUT 8400 NW 25TH AVE , MIAMI, FL 33147
Former Senior Housing Community located on the northwest corner of NW 83rd Street and NW 25th Avenue the heart of Miami.All units offer a one-story access in single, duplex, triplex and quadplex styled buildings in a community of 12-acres that is completely fenced with pedestrian access from NW 27th Avenue and vehicular access from NW 25th Avenue. The community has a planned playground, BBQ area, onsite parking, lighting and interior access roads. The community is also home to a church, a recreation center, a laundry room, an office building ancillary building used for storage, maintenance and the management office. Elizabeth Gardens is also a redevelopment opportunity. Located within the North Central Urban District of Miami-Dade County, the property has the potential to develop 1,200 multi-family units along with a commercial component along the NW 27th Avenue Corridor. The owners have prepared a conceptual development plan that would initialize the project into 4 phases of 300-400 units per site. Due to the current existing units, a developer could acquire the community using conventional lending with loan to value in excess of traditional land development financing. With as little as thirty-percent of the purchase price and the inclusion of a carve-out provision, a developer could execute a phased development over the next several years. The other phases would continue operating with the existing product in place, without the requirement of a full payoff of the loan. Elizabeth Gardens offers a redevelopment opportunity with existing cash-flow. Truly the best available project in Miami-Dade.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 48 | $900.00 | 480 - 550 |
| 1+1 | 74 | $1,175 | 650 - 800 |
| 2+1 | 16 | $1,350 | 900 |
| 3+2 | 2 | $1,700 | 1,000 - 1,300 |
PROPERTY TAXES
| Parcel Number | 30-3110-002-0020 | Improvements Assessment | $10,518,966 |
| Land Assessment | $12,904,650 | Total Assessment | $23,423,616 |
PROPERTY TAXES
