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

37280 OKEECHOBEE AVE #32, CANAL POINT, FL 33438

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Income/MultiFamily - for Sale

37280 OKEECHOBEE AVE #32, CANAL POINT, FL 33438

Asking Price$3,200,000 Change Price$500,000

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  • Days on market:

    26 day(s)

  • Original Price:

    $3,700,000

  • Tax Legal Description:

    NEMAHA LT 1 BLK 14 & NEMAHA UNREC

  • Property Type:

    Income/MultiFamily

  • Lease Term Remaining:

    1 To 3 Year Lease

  • Special Listing Conditions:

    Sale

Description

$3,200,000

Canal point apartments presents a rare value-add investment with immediate cash flow and strong upside. the community features 32 units across eight well-built buildings, with 16 units already stabilized and generating steady income. the remaining 16 units require renovations to unlock premium rents and drive the arv to $6.5m. another single-family home is located near site and is slated for demolition, creating a prime redevelopment opportunity for a new 4-unit building—expanding the total to 36 units. with stabilized income today, value-add upside tomorrow, and a waiting list of renters ready to lease, this phased project offers exceptional long-term growth in a market with strong rental demand and limited supply.
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