Active
14280 NE 6th Ave
North Miami FL, 33161
$3,800,000
$351.49 per sqft
Active
10,811 sqft
Commercial
Built in 1959
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.
A11625158
MLSⓇ ID
July 17, 2024
Listed
September 17, 2024
Updated
Map
14280 NE 6th Ave
North Miami FL, 33161
Interior Features
Total Stories
2
Floor Description
Terrazzo, Tile, Vinyl
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.4 Acres
Roof
Built-Up
Sewer
Public Sanitation
Other Property Details
Taxes
$66,985
Tax Frequency
Annually
Days on Market
61
Garage
No
View
No
County
Miami-Dade County
Water Source
Public
Pool
No
Zoning
3800
Listing History
Date | Event | Price |
|---|---|---|
9/17/2024 | Price change | $3,800,000 -5% |
9/17/2024 | Active | — |
8/25/2024 | Under contract | — |
Listed by: Fausto Commercial Realty Consultants Inc
Listing Contact: 954-743-7594
Based on information from the Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated 1:56 PM UTC, 9/17/2024.