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121 NE 55Th St Miami, FL 33137

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For Sale
$1,750,000

Fully rented 8-unit building with income potential in developing area.

Building Details

Year built
1924

Source: City Group Consulting, LLC Agent Ouri Kahn

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Renovated Multifamily Building For Sale

This fully rented 8-unit building presents an investment opportunity. The property has been recently renovated and generates $12,700 in gross income. There is potential for rent increases, with a projected gross income (PGI) of $14,000 to $15,000. The property is managed by the owner and has low expenses, offering cash flow potential. It is located in a rapidly developing area with major changes and new multifamily construction planned, suggesting future upside.
Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Miami
County
Miami-Dade
State
Florida
Longitude
-80.193743
Latitude
25.82647

FAQs

What type of property is this?
Apartment building - Fully rented 8-unit building with income potential in developing area.
Where is this apartment building located?
The property is located at 121 NE 55Th St Miami, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: - Potential for $1M Interest-Only (IO) loan for 3 years at market rate.; - Fully rented 8-unit building generating $12,700 in gross monthly income.; - Projected gross monthly income (PGI) of $14,000 - $15,000.
More about this property
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