7175 23Rd St Miami, FL 33155

Property Details for 7175 23Rd St

Year built

1970

Property type

Small apartment buildings

Description

This exceptional one-story apartment building, located at 7175 SW 23rd St, Miami, FL 33155, presents a lucrative investment opportunity. Built in 1970, this well-maintained property sits on a substantial 14,480 square foot lot, just blocks from the Palmetto and Coral Way intersection. The property features a remodeled design, an electric gate for enhanced security, a rain soft water system, an attractive concrete driveway, and a durable tile roof. Landscaping includes a sprinkler system and mature fruit trees. Additional amenities include accordion shutters for storm protection and a large covered terrace. Residents enjoy two convenient laundry rooms and ample secured parking. The property generates a gross annual rental income of $118,200, resulting in a net income of $88,600 and a 7.7% return on investment. This multifamily property, classified as an apartment building and specifically a duplex/triplex/quadruplex, offers immediate income potential and represents a unique business opportunity for discerning investors. The asking price is $1,107,000. Don't miss this chance to acquire a high-performing asset in a desirable Miami location.