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Multifamily

Sherbondy Villas

200 & 260 Perviz Ave, Opa-locka, FL 33054

Listing Price: $4,800,000

Cap Rate
3.01%
Occupancy
95.0%

Investment Overview

Marcus & Millichap as exclusive listing agent is pleased to offer for sale Sherbondy Villas, a 32-unit apartment building located at 200 and 260 Perviz Avenue in the city of Opa Locka, in Miami-Dade County. The properties consist of two one-story buildings with a unit mix of thirty-two one-bedroom/one-bath units. Water, sewer, and trash removal is included in the rental for the units. The buildings were constructed in 1967 and 1968. The current ownership has owned the properties for over 30 years. This creates an opportunity for a new investor to purchase one of the most centrally located properties in Opa Locka. It is centrally located one block from the Opa Locka Municipal Building which includes the Police Department, Public Library, Utility Department as well as others. Also, it is walking distance to the Tri-Rail Station, Sherbondy Park and the Amazon Mega-Warehouse which employees hundreds of people. The properties total approximately 1.21 acres and are zoned B-2 (Commercial Liberal). Also, they have a Downtown Mixed-Use Overlay which permits density of 150 units per acre. Therefore, you could potentially build about 182 units. The properties are for sale for $4,800,000 which equates to $150,000 a unit, or roughly $26,000 a buildable unit.

Investment Highlights

  • Two Contiguous Parcels Totaling Approximately 1.21 Acres
  • Redevelopment Potential with Zoning Density of 150 DU/Acre
  • Current Ownership of 30+ Years
  • Centrally Located Northeast Miami-Dade Location
  • Walking Distance to Municipal Buildings, Amazon Mega Warehouse, Opa Locka Airport, Tri Rail and Sherbondy Park

Exclusively Listed By

Financing By

Multifamily

Sherbondy Villas

Listing Price: $4,800,000

Cap Rate
3.01%
Occupancy
95.0%

Investment Highlights

  • Two Contiguous Parcels Totaling Approximately 1.21 Acres
  • Redevelopment Potential with Zoning Density of 150 DU/Acre
  • Current Ownership of 30+ Years
  • Centrally Located Northeast Miami-Dade Location
  • Walking Distance to Municipal Buildings, Amazon Mega Warehouse, Opa Locka Airport, Tri Rail and Sherbondy Park

Investment Overview

Marcus & Millichap as exclusive listing agent is pleased to offer for sale Sherbondy Villas, a 32-unit apartment building located at 200 and 260 Perviz Avenue in the city of Opa Locka, in Miami-Dade County. The properties consist of two one-story buildings with a unit mix of thirty-two one-bedroom/one-bath units. Water, sewer, and trash removal is included in the rental for the units. The buildings were constructed in 1967 and 1968. The current ownership has owned the properties for over 30 years. This creates an opportunity for a new investor to purchase one of the most centrally located properties in Opa Locka. It is centrally located one block from the Opa Locka Municipal Building which includes the Police Department, Public Library, Utility Department as well as others. Also, it is walking distance to the Tri-Rail Station, Sherbondy Park and the Amazon Mega-Warehouse which employees hundreds of people. The properties total approximately 1.21 acres and are zoned B-2 (Commercial Liberal). Also, they have a Downtown Mixed-Use Overlay which permits density of 150 units per acre. Therefore, you could potentially build about 182 units. The properties are for sale for $4,800,000 which equates to $150,000 a unit, or roughly $26,000 a buildable unit.

Exclusively Listed By

Financing By

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