14280 6 Ave North Miami, FL 33161
- Commercial real estate
Current Use by Public Records
- Royal Oak Apartments / Apartment Building
Property Details for 14280 6 Ave
- Year built
- 1959
- Property type
- Commercial real estate
Description
This exceptional 19-unit multifamily property in North Miami, Florida, presents a compelling investment opportunity. Located at 14280 NE 6th Ave, 33161, this fully renovated complex boasts 16 one-bedroom/one-bathroom units and 3 spacious studios. Each unit features modern amenities including mini-split AC units, new flooring, updated kitchens, impact windows and doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property sits on a 0.40-acre lot and includes onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance systems. The building, constructed in 1959, is a two-story structure and has recently undergone significant renovations, including roof resealing and completion of the 40-year certification. Currently fully occupied, the property generates nearly $380,000 in annual income, yielding a 7% capitalization rate. The asking price is $3,800,000. Significant upside potential exists through market rent adjustments. Furthermore, the property's zoning allows for redevelopment, potentially increasing the unit count to up to 40 units. This turnkey investment offers a strong return with significant future growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1875407
- Latitude
- 25.906442
