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- (305) 790-0199
Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1959
Sq.Footage
N/A
Price per SqFt
N/A
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.
Features & Amenities
Interior
-
Cooling YN
Yes
-
Cooling
Other
-
Heating YN
Yes
-
Heating
Other
Exterior
-
Garage
No
-
Construction Materials
Block
-
Patio and Porch Features
N/A
-
Pool Features
N/A
-
View
N/A
Area & Lot
-
Property Type
Commercial Sale
-
Property Sub Type
Multi Family
Financial
-
Sales Price
$3,895,000
-
Tax Amount
57594.0
-
Zoning
3800
Property Features
-
Accessibility Features
N/A
-
Association Amenities
N/A
-
Foundation Details
N/A
-
Sewer
N/A
-
Water Source
N/A
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Location
County
Miami-Dade
Elementary School
Middle School
High School
Listing Courtesy of Elior Levi , Fausto Commercial Realty Consultants Inc
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Realtor
JarrodGaylis
Call Jarrod today to schedule a private showing.
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