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MLS # :A11625158 |
Price :$3,950,000 |
Status :
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Listing Date :Jul 17, 2024 |
Square Footage :Not Available |
County :Miami-Dade County |
Square Footage :Not Available |
Year Built :1959 |
Taxes :$66,985 Per Year |
Waterfront :No |
Virtual Tour :
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Remarks :Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped. |
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Call: 305-998-9922
Sunny Realty
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