14280 NE 6th Ave North Miami, Florida
MLS#: A11625158
$3,950,000 USD
Listed By Fausto Commercial Realty Consultants Inc
The Commercial Property for Sale located at North Miami, Florida is currently for sale. North Miami, Florida is listed for $3,950,000. If the property located at North Miami, Florida isn't what you're looking for, visit https://www.sheliagasson.com to see other Commercial Properties for Sale in North Miami .
Date Updated : Jan 28, 2025
Property features
Construction details
- Year built: 1959
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
