Investment Overview

Marcus & Millichap, as exclusive listing agent, presents for sale Salem House. Salem House is a 32-unit apartment property located in North Miami, Florida. The property offers a fantastic unit mix of (15) one-bedroom/one-bathroom apartments, (15) two-bedroom/one-bathroom apartments, and (2) two-bedroom/two-bathroom apartments. Amenities include spacious apartments, on-site laundry, on-site parking, and individual wall unit air-conditioning. Salem House is located at 13155 NE 6th Avenue in North Miami. It is situated on Northeast 6th Avenue, and between Northeast 125th Street and Northeast 135th Street which are major east-west corridors in northeast Miami-Dade County. Additionally, Interstate 95 and Biscayne Boulevard are nearby providing ease of access throughout Miami. The property is offered for sale at $7,350,000 which equates to $229,688 per unit, or approximately $298 per square foot. Most of the existing tenants are month-to-month providing a new owner with an opportunity to raise rents to market in a compressed timeframe and potentially increase returns.