Miami 15 units building

Description:

Fully occupied with stable, year-round tenancy. This 15-unit building was completely remodeled in 2018 with full permits pulled; all architectural plans and permits are included/attached here. Freshly updated throughout, this property boasts a prime location on NW 62nd St, adjacent to Related's massive Liberty Square redevelopment project. The entire building was just repainted with Sherwin-Williams commercial-grade paint and fully waterproofed in 2024, and the parking lot was COMPLETELY REDONE and professionally striped by a licensed driveway striping company. All 15 units are 1-bedroom/1-bathroom featuring central air conditioning, impact windows and doors. The coin laundry room is equipped with machines still under warranty, and the property was treated for termites in 2024. This turn-key multifamily investment offers excellent income potential, with gross annual income exceeding $320,000 and a current CAP rate over 7%, supported by a diversified tenant base including reliable Section 8 housing department income. Operating costs remain low thanks to a newly approved insurance policy with a premium under $12,000/year (including windstorm coverage). The property also qualifies for a Citizens commercial insurance policy with over 60% discount. The gated community offers remote-control access, 3rd-party monitored fire alarm system, full security camera coverage, and abundant parking for residents and guests. With permits, plans, warranties, and recent capital improvements all in place, this exceptional high-yield, low-maintenance return on investment opportunity won’t last long!

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