14280 NORTH EAST 6TH AVE, North Miami
$3,895,000 USD
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| Address | 14280 NORTH EAST 6TH AVE, North Miami |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments |
| Price | $3,895,000 |
| Property Status | Active |
| MLS Number | A11837979 |
| Property Size | 17416 |
| Lot Size | 17416 |
| Year Built | 1959 |
| Folio Number | 06-22-19-011-0070 |
| Zoning Information | 3800 |
| Days on Market | 77 |
Detailed Description: 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.
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Address Information
| State | Florida |
| City | North Miami |
| County | Miami-Dade County |
| Zip Code | 33161 |
| Address | 14280 NORTH EAST 6TH AVE |
| Section | 19 |
| Zip Code (4 Digits) | 2998 |
Financial Information
| Price | $3,895,000 |
| Price per Foot | $0 |
| Folio Number | 06-22-19-011-0070 |
| Tax Amount | $57,594 |
| Possession Information | Funding |
Full Descriptions
| Detailed Description | 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. |
| Roof Description | Built-Up |
| Floor Description | Terrazzo, Tile, Vinyl |
| Cooling Description | Other |
| Heating Description | Other |
| Water Description | Public |
| Sewer Description | Public Sanitation |
Property parameters
| Living Area | 17416 |
| Lot Size | 17416 |
| Total Acreage | 0.000 |
| Zoning Information | 3800 |
| Maximum Leasable Size | 17416 |
| Year Built | 1959 |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments |
| Construction Type | Concrete Block Construction |
| Stories Number | 2 |
| Street Direction | North East |
| Listed with | Fausto Commercial Realty Consultants Inc |