Homes for sale - 14280 NE 6th Ave, North Miami, FL 33161

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$ 3,800,000

Est. payment | -/mo

10,811 SqFt

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$ 3,800,000

Est. payment | -/mo

Save Virtual Tour

10,811 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 10,811 sqft

Price per Sqft $351

MLS Listing ID A11625158

Construction Status Resale

HOA Y/N No

Year Built 1959

Annual Tax Amount $66,985

Contingent Other

Lot Size 0.400 Acres

Property 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.

Location

State FL

County Miami-dade

Area 22

Interior

Heating Other

Cooling Other

Flooring Terrazzo, Tile, Vinyl

Window Features Impact Glass

Exterior

Roof Type Built-Up

Building

Story 2

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Block

Construction Status Resale

Others

Tax ID 06-22-19-011-0070

Security Features Security Gate,Smoke Detector(s)

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Listed by Fausto Commercial Realty Consultants Inc

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