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Ibis Villas at Doral 8852 NW 111 Ct 22 Unit Apartment Building $8,690,000 ($395,000/Unit) 5.37% Cap Rate Miami, FL 33178
Investment Highlights
- Portfolio of 22 Units built in 2006-2007 located in Ibis Villas Condominium, which has 196 total units
- Mix of 2, 3 and 4 Bedrooms Units ranging from 1,303 – 2,214 Square Feet (1,587 Average Units Size)
- Units Feature Central Air Conditioning, Washer/Dryers, Stainless Steel Appliances, Attached Garages
- Affluent/Growing Area with $122,569 Average Household Income, 18% Population Growth since 2010
- Six of the Units are Townhome Floorplans over 2,200 Square Feet and Twelve Units have Garages
- Common Area Amenities include On-Site Office and Clubhouse, Pool, Fitness Center, Ample Parking
Executive Summary
The Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Ibis Villas at Doral Condominium Portfolio, consisting of 22 out of 196 total condominiums located in Doral, Florida.
This offering includes 22 out of 196 total condominiums within The Ibis Villas at Doral Condominium, offering an approximately 11% ownership interest. The Ibis Villas at Doral Condominium Portfolio was originally constructed between 2006 and 2007 and consists of nine buildings within a larger 23-building condominium community, according to the Miami-Dade County Property Appraiser. The buildings are two and three stories and feature concrete block construction, painted stucco exteriors, barrel tile roofs, paved asphalt parking, in-unit washer’s & dryers and central air conditioning.
This portfolio totals 34,716 rentable square feet with a unit mix consisting of (8) two-bedroom | two-bathroom units measuring approximately 1,303 square feet, (8) three-bedroom | two-bathroom units measuring approximately 1,380 square feet, (4) three-bedroom | three-bathroom units measuring approximately 2,206 square feet, and (2) four-bedroom | two-and-a-half-bathroom units measuring approximately 2,214 square feet.
11116 NW 88th Terrace is comprised of; Unit #101 a 2 Bed | 2 Bath Condo with Garage, Unit #202 a 2 Bed | 2 Bath Condo, Unit #109 a 2 Bed | 2 Bath Condo with Garage, and Unit #110 3 Bed | 2 Bath Condo.
8804 NW 109th Place is comprised of; Unit #401 a 2 Bed | 2 Bath Condo with Garage, Unit #403 a 3 Bed | 3 Bath Townhome with Garage, Unit #407 a 2 Bed | 2 Bath Condo with Garage and Unit #408 a 2 Bed | 2 Bath Condo.
8902 NW 109th Court is comprised of; Unit #1202 a 3 Bed | 2 Bath Condo, Unit #1205 a 2 Bed | 2 Bath Condo with Garage.
8952 NW 109th Court is comprised of; Unit #1102 a 3 Bed | 2 Bath Condo, Unit #1105 a 2 Bed | 2 Bath Condo, Unit #1202 a 3 Bed | 2 Bath Condo and Unit #1205 a 2 Bed | 2 Bath Condo with Garage.
11053 NW 89th Terrace consists of; Unit #1505 a 4 Bed | 2 Bath Townhome with Garage.
11063 NW 89th Terrace consists of; Unit #1605 a 4 Bed | 2 Bath Townhome with Garage.
11062 NW 89th Terrace is comprised of; Unit #1702 a 3 Bed | 2 Bath Condo, Unit #1705 a 2 Bed | 2 Bath Condo with Garage, Unit #1706 a 3 Bed | 2 Bath Condo.
11061 NW 89th Terrace is comprised of; Unit #1802 a 3 Bed | 2 Bath Condo, Unit #1803 a 3 Bed | 3 Bath Townhome with Garage, Unit #1805 a 2 Bed | 2 Bath Condo.
11060 NW 88th Terrace is comprised of; Unit#303 & 304, 3 Bed/3 Bath Townhomes with Garage.
This offering includes 22 out of 196 total condominiums within The Ibis Villas at Doral Condominium, offering an approximately 11% ownership interest. The Ibis Villas at Doral Condominium Portfolio was originally constructed between 2006 and 2007 and consists of nine buildings within a larger 23-building condominium community, according to the Miami-Dade County Property Appraiser. The buildings are two and three stories and feature concrete block construction, painted stucco exteriors, barrel tile roofs, paved asphalt parking, in-unit washer’s & dryers and central air conditioning.
This portfolio totals 34,716 rentable square feet with a unit mix consisting of (8) two-bedroom | two-bathroom units measuring approximately 1,303 square feet, (8) three-bedroom | two-bathroom units measuring approximately 1,380 square feet, (4) three-bedroom | three-bathroom units measuring approximately 2,206 square feet, and (2) four-bedroom | two-and-a-half-bathroom units measuring approximately 2,214 square feet.
11116 NW 88th Terrace is comprised of; Unit #101 a 2 Bed | 2 Bath Condo with Garage, Unit #202 a 2 Bed | 2 Bath Condo, Unit #109 a 2 Bed | 2 Bath Condo with Garage, and Unit #110 3 Bed | 2 Bath Condo.
8804 NW 109th Place is comprised of; Unit #401 a 2 Bed | 2 Bath Condo with Garage, Unit #403 a 3 Bed | 3 Bath Townhome with Garage, Unit #407 a 2 Bed | 2 Bath Condo with Garage and Unit #408 a 2 Bed | 2 Bath Condo.
8902 NW 109th Court is comprised of; Unit #1202 a 3 Bed | 2 Bath Condo, Unit #1205 a 2 Bed | 2 Bath Condo with Garage.
8952 NW 109th Court is comprised of; Unit #1102 a 3 Bed | 2 Bath Condo, Unit #1105 a 2 Bed | 2 Bath Condo, Unit #1202 a 3 Bed | 2 Bath Condo and Unit #1205 a 2 Bed | 2 Bath Condo with Garage.
11053 NW 89th Terrace consists of; Unit #1505 a 4 Bed | 2 Bath Townhome with Garage.
11063 NW 89th Terrace consists of; Unit #1605 a 4 Bed | 2 Bath Townhome with Garage.
11062 NW 89th Terrace is comprised of; Unit #1702 a 3 Bed | 2 Bath Condo, Unit #1705 a 2 Bed | 2 Bath Condo with Garage, Unit #1706 a 3 Bed | 2 Bath Condo.
11061 NW 89th Terrace is comprised of; Unit #1802 a 3 Bed | 2 Bath Condo, Unit #1803 a 3 Bed | 3 Bath Townhome with Garage, Unit #1805 a 2 Bed | 2 Bath Condo.
11060 NW 88th Terrace is comprised of; Unit#303 & 304, 3 Bed/3 Bath Townhomes with Garage.
Property Facts
| Price | $8,690,000 | Property Subtype | Apartment |
| Price Per Unit | $395,000 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.37% | Building Size | 34,716 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.68 | No. Stories | 2 |
| No. Units | 22 | Year Built | 2007 |
| Property Type | Multifamily | ||
| Zoning | MF-1 - Multi-family | ||
| Price | $8,690,000 |
| Price Per Unit | $395,000 |
| Sale Type | Investment |
| Cap Rate | 5.37% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 11.68 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Building Size | 34,716 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2007 |
| Zoning | MF-1 - Multi-family |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Trash Pickup - Curbside
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | - | 1,303 |
| 3+2 | 8 | - | 1,380 |
| 3+3 | 4 | - | 2,206 |
| 4+2.5 | 2 | - | 2,214 |
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Fairly walkable
40/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 35-3007-010-1410 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $386,523 |
Property Taxes
Parcel Number
35-3007-010-1410
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$386,523
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Ibis Villas at Doral | 8852 NW 111 Ct
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