14280 NE 6th Ave, North Miami FL 33161

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.

This income/multifamily home located at 14280 NE 6th Ave, North Miami FL 33161 is currently for sale and has been available on Brickellsold for 134 days. This property is listed at $4M. It has N/A beds, N/A bathrooms, and is N/A square feet. It was built in 1959. 14280 NE 6th Ave, North Miami FL 33161 is in North Miami county Miami-Dade County.