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Edgewater Apartments 3 Multifamily Properties Offered at $7,120,000 in Multiple Locations
Investment Highlights
- Four Adjacent Buildings Totaling 32 Units Extensively Renovated by Current Ownership
- Most Units Fully Renovated with Updated Kitchens and Bathrooms, Flooring, Lighting
- Close to Aventura Mall, Biscayne Boulevard (US-1), Dixie Highway and NE 163rd Street
- (24) One-Bedroom | One-Bathrooms and (8) Two-Bedroom | One-Bathroom Apartments
- Exterior Renovations Include Hurricane Impact Windows, Railings, Paint, Landscaping
Executive Summary
Edgewater Apartments comprises four two-story buildings constructed between 1958 and 1960 of concrete block and painted stucco with flat roofs. The property offers a combined 26,280 square feet of living area and sits on a 35,571-square-foot lot, according to the Miami-Dade Property Appraiser. The unit mix includes twenty-four (24) one-bedroom/one-bathroom units and eight (8) two-bedroom/one-bathroom units.
Over the past two years, the property has undergone extensive renovations. Exterior renovations include 3/4 roofs replaced, stucco repair, new exterior paint, railings, impact windows, sliding glass balcony doors, and updated landscaping. Interior renovations include new kitchens and bathrooms with stainless steel electric appliances, mini-split air conditioning units, upgraded lighting, and new tile or vinyl flooring. The property also features parking in the front and rear alley, as well as on-site laundry facilities.
Over the past two years, the property has undergone extensive renovations. Exterior renovations include 3/4 roofs replaced, stucco repair, new exterior paint, railings, impact windows, sliding glass balcony doors, and updated landscaping. Interior renovations include new kitchens and bathrooms with stainless steel electric appliances, mini-split air conditioning units, upgraded lighting, and new tile or vinyl flooring. The property also features parking in the front and rear alley, as well as on-site laundry facilities.
Property Facts
| Price | $7,120,000 | Status | Active |
| Price / SF | $289.64 / SF | Number of Properties | 3 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 6.10% | Total Building Size | 24,582 SF |
| Sale Type | Investment | Total Land Area | 0.82 AC |
| Price | $7,120,000 |
| Price / SF | $289.64 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 6.10% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 24,582 SF |
| Total Land Area | 0.82 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Glades Apartments
1999 N Glades Dr, Miami, FL 33162 |
Multifamily | 6,460 SF | 1958 | - |
|
Glades Apartments
1969-1979 N Glades Dr, North Miami Beach, FL 33162 |
Multifamily | 11,662 SF | 1960 | - |
|
Glades Apartments
1989 N Glades Dr, North Miami Beach, FL 33162 |
Multifamily | 6,460 SF | 1958 | - |
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Edgewater Apartments
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