Avalon Sub
$1,039,000
Miami, FL 33133
3,202 sqft
Building Size
1924
Year Built
Details:
Highlights:
- Lot Features: Oversized Lot
- Documents Available: Rent Rolls
- Architectural Style: Attached
- Cooling: Ceiling Fan(s), Central Air, Electric
- Heating: Central, Electric
- Flooring: Ceramic Floor, Terrazzo
- Construction Materials: Concrete Block Construction, Stone
Description:
PRICE REDUCED — COCONUT GROVE AREA. High-yield value-add asset priced at just $349/sqft on a massive 3,043 SF footprint with immediate $6,300/mo cash flow. Discounted for some cosmetic updates. Great growth potential for cash buyer/1031 Exchange. • Asset & Lot: 100% Occupied Active multi-unit rental stream on an oversized ~6,953 sqft lot with ample parking. Some updates unlock a 7.5%+ Pro-Forma Cap Rate based on market rent projections. • Zoning & History: Grandfathered legal duplex. Features a legally permitted, structurally superior 1984 rear expansion (fully documented SF). Property search shows 1 unit because it has not been updated there, but the multi-unit layout is legal and fully established. • Roof & Location: Premium roof replaced just 3 years ago, drastically lowering insurance. Blocks to Coral Gables, Coconut Grove, Douglas Park, and Metrorail for a fast commute to Brickell/Downtown. Notice: Long-term residents are not yet aware of the sale; strictly do not disturb the occupants. Full financials will be shared upon request. Interior access will be granted upon verified upfront POF submitted directly to the listing agent.
Location
Gallery
