Address225 Nw 16Th St, Miami, FL, 33136-1856

Price$1,575,000

  • Residential Income
  • 3,528 SQ FT
  • Built in 1954

THIS IS A 8 UNIT a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.

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Essential Information

  • MLS® #A11469018
  • Price$1,575,000
  • Bathrooms0.00
  • Square Footage3,528
  • Acres0.00
  • Price/SqFt$446 USD
  • Year Built1954
  • TypeResidential Income
  • Sub-TypeQuadruplex
  • StyleFourplex
  • StatusActive

Community Information

  • Address225 Nw 16Th St
  • Area31
  • SubdivisionERICKSONS SUB
  • CityMiami
  • CountyMiami-Dade County
  • StateFL
  • Zip Code33136-1856

Amenities

  • UtilitiesCable Available

Interior

  • InteriorCeramic Tile, Vinyl
  • HeatingWall Furnace
  • CoolingWall/Window Unit(s)
  • # of Stories2
  • StoriesTwo

Exterior

  • RoofBuilt-Up
  • ConstructionBlock

Additional Information

  • Date ListedOctober 13th, 2023
  • Days on Website217

Listing Details

  • OfficeNew World Realty Group Inc
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