24705 129Th PathHomestead, FL 33032

Property Details for 24705 129Th Path

Year built

2022

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 15-unit apartment building, completed in 2022, presents a compelling investment opportunity in Homestead, Florida. Located at 24705 SW 129th Path, this fee-simple property boasts 21,253 square feet of net rentable space situated on a generous 36,155 square foot lot. The property features a Class B designation and currently enjoys a 96% occupancy rate (as of December 4, 2022), generating a Net Operating Income (NOI) of $345,222. Pro-forma NOI is projected at $468,088, resulting in a pro-forma cap rate of 6.93%. The asking price is $6,750,000, translating to $450,000 per unit. Each of the 15 units offers a modern design with 3 bedrooms and 2.5 bathrooms. The property includes 29 parking spaces and is comprised of a single, two-story building. The property's location in the rapidly growing Homestead/South Dade area, near developments by Lennar and DR Horton, offers significant potential for future appreciation. The Miami-Dade County property (APN: 30-6923-000-1142) offers a stabilized investment with strong cash flow and significant upside potential. All information is believed to be accurate but is not warranted

Location Insight

City

Homestead

County

Miami-Dade

State

Florida

Latitude

25.5373

Longitude

-80.4001

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