1250 61St StMiami, FL 33142

Property Details for 1250 61St St

Year built

1964

Property size (Sq ft)

3,712 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 2-story, 3,712 square foot apartment building, constructed in 1964, presents a compelling investment opportunity in Miami, Florida. Situated at 1250 NW 61st St, 33142, this fourplex boasts four identical 2-bedroom, 1-bathroom units, each equipped with central air conditioning. The property's four separate electric meters streamline utility billing for both owner and tenants. Currently generating $7200 in monthly income, this property offers significant upside potential. With the possibility of increasing rent to $2300 per unit through Section 8, the monthly income could reach $9200. The property benefits from long-term tenants, suggesting low turnover and consistent revenue. Located in a developing Miami neighborhood, this investment promises strong growth potential and capital appreciation, making it an attractive option for buyers seeking a stable, high-yield property in an up-and-coming area. The property is in excellent condition, as evidenced by available photographs.

Location Insight

City

Miami

County

Miami-Dade

State

Florida

Latitude

25.831

Longitude

-80.2177

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