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Gelfand Realty Miami Properties - Multi Family

E, MADEIRA BEACH, FL 33708

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Multi Family - REP

E, MADEIRA BEACH, FL 33708

Date Sold 09-05-2018

Sold Price$445,000 Asking Price$499,900

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  • Days on market:

    41 day(s)

  • Original Price:

    $569,900

  • Price per sqft:

    $181.39

  • Tax Legal Description:

    Desc

  • Tax Year:

    2017

  • Property Type:

    Multi Family

  • Construction Type:

    Block

  • Roof:

    Shingle

  • Cooling Description:

    Central Air

  • Heating Description:

    Central

  • Exterior Features:

    Balcony Fenced

  • Special Listing Conditions:

    None

Description

$499,900 • living size area 2756 sqft

Superbly located 4 unit investment opportunity with significant value-add / mark-to market rent execution. property is conveniently located in madeira beach. located less than 1 mile from the popular john's pass village and boardwalk, just a 5 minute walk to beach. in place cap rate of 5.1%,with a potential cap rate of 6.4%. 2 br units have central a/c, newer roof, landscaped - this is a great property in a quiet part of madeira beach.upstairs units are 2/1 with wood and tile flooring, new kitchens with granite counter tops and private elevators. all units have been updated and are 100% occupied. the 2 ground floor pre-existing units are 1br, 1ba of approximately 500 sq ft each. assigned off-street parking for residents and street parking for their guests. property is just a short drive from restaurants, attractions and all the beach has to offer. non-disclosure agreement required to receive detailed property information.

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