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Gelfand Realty Miami Properties for Sale - Income/MultiFamily for Sale

225 NW 16TH ST, MIAMI, FL 33136

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Income/MultiFamily - for Sale

225 NW 16TH ST, MIAMI, FL 33136

Asking Price$1,600,000

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  • Lot size 6250sqft
  • Taxes $5,578
  • Year Built 1954

  • Days on market:

    7 day(s)

  • Original Price:

    $1,600,000

  • Tax Legal Description:

    ERICKSONS SUB PB B-88 LOT 11 BLK 12 LOT SIZE 50.000 X 105 OR 22659-3138 072004 6 COC 26147-3149 12 2007 1

  • Tax Year:

    2022

  • Property Type:

    Income/MultiFamily

  • Inclusions:

    Building & Land

  • Heating Description:

    Wall/Window Units

  • Floor Description:

    Tile

  • Special Listing Conditions:

    Sale

  • Lot Features:

    Central Business District City Location

Description

$1,600,000

Presenting a prime opportunity: 8 one-bedroom, one-bath apartments in overtown. units boast a strategic location and robust income potential. maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. a recent 40 yr inspection passed (report attached) prospective buyers could potentially assume the existing loan or a purchase money mortgage. with rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. refer to the attached rent roll (excluding one recently leased at $1350) each unit features separate water and electric meters, as well as wall-mounted ac units, ensuring tenant independence. new roof (2022), meters and electrical serv (2023) add to value.

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