Price Reduced 1.56%
Price History
$1,600,000
9/1/2023
$1,575,000
1/25/2024
225 NW 16th St, Miami, FL, 33136
1954
Fourplex
3,528 sqft
THIS IS A 8 UNIT 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.
Status:
Active
Type:
Multi-family
Zoning:
6107
Subdivision:
ERICKSONS SUB
Heating:
Wall Furnace
Cooling:
Wall/Window Unit(s)
Parking:
3-car
Est. Taxes:
$5,578
Construction
Block
Utilities
Cable Available
Lot Description:
< 1/4 Acre
Days on Market:
199
Pool:
None
MLS #:
A11469018
Community Info
School Info
Walk Score
Yelp
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Listing courtesy of New World Realty Group Inc Phone: 305-444-9300