15900 SW 95th Ave Miami, FL 33157

The Palmetto Golf Club Apartments, located in the Palmetto Estates neighborhood of Miami-Dade County, comprises two three-story buildings with 81 rental units. The unit mix includes 66 one-bedroom units (approximately 630 SF), nine two-bedroom/one-bathroom units (approximately 708 SF), and six two-bedroom/two-bathroom units (approximately 795 SF). Constructed in 1968 of concrete block on a 2.38-acre site, the community provides water, sewer, gas, and trash removal included in the rent. Community features include gated parking with secured key fob entrances, two elevators, six laundry rooms, and a pool with a sun deck and dedicated bathroom facilities. The property has been under current ownership for almost 50 years and has been maintained in great condition, with close to $1,000,000 in capital improvements over the last several years. These improvements include updated electric wiring and capacity to the units, roof replacements, pool and pool equipment updates, parking lot paving and striping, elevator upgrades, and a 40/10 year recertification obtained in 2018. Situated off South Dixie Highway, in the Palmetto Bay/Palmetto Estates neighborhood, the property is located in a residential area with retail next door and a Publix-anchored shopping center across the street. The location offers access to retail shopping centers, car dealerships, healthcare facilities, office buildings, and other commercial uses. The South Dade Transit Way is immediately to the east. This property presents an opportunity to acquire a well-maintained asset with historically high occupancy, with potential to increase rental rates to market levels.