I am pleased to present West Brickell Villas this property is located at 861 NW 2nd Street Miami, FL 33128, it is a 2008 construction, 3-story multi-family building, situated on a 7,000 square foot lot. It has roughly 9,822 rentable square feet, with 9 occupied units. The unit mix consists of, 1 (1bedroom - 1bathroom) unit, 4 (1bedroom w/ Den & 1.5 bathroom) units, and 4 (2bedroom - 1.5 bathroom) units. Each unit is equipped with central air conditioning, washer/dryer and balcony (select units have 2 balconies). Each unit is also equipped with stainless steel appliances. The covered parking for the tenants is located on the ground floor and has a total of 9 on-site assigned parking spaces. The building and parking is gated, it is accessible with a key or remote access for the cars. This is a great opportunity, with tons of rental upside, and a great return. The replacement cost for a building of this caliber is much higher than the asking price. This is a low maintenance investment and a long-term play for any investor. It is in perfect condition, and it will go quickly! Cap rate is based off the current underwriting and is to bank standard.
This great opportunity is located in the heart of Little Havana. Which is Miami' s epicenter for the Hispanic community, it is the densest and fastest growing rental market in South Florida. The area has undergone tremendous gentrification the last 10 years. With various developments going up near by, the area has significantly appreciated in value. In the last year the area has adopted a new name, West Brickell. It is walking distance from the Miami River and Brickell. Another big plus is it's close proximity to main thorough ways and expressways!
