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.
Property Details
Price:
$3,800,000
MLS #:
A11625158
Status:
Active
Beds:
0
Baths:
0
Address:
14280 NE 6th Ave
Type:
Commercial
Subtype:
Income/MultiFamily
City:
North Miami
Listed Date:
Jul 17, 2024
State:
FL
Finished Sq Ft:
10,811
Total Sq Ft:
10,811
ZIP:
33161
Year Built:
1959
See this Listing
CENTURY 21 Carioti is a full service real estate company servicing the State of Florida with a headquarters in Orlando, FL.
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Schools
Interior
Cooling
Other
Flooring
Terrazzo, Tile, Vinyl
Heating
Other
Exterior
Roof
Built- Up
Financial
Taxes
$66,985
Map
Community
- Address14280 NE 6th Ave North Miami FL
- CityNorth Miami
- CountyMiami-Dade County
- Zip Code33161
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