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Multifamily

Royal Oak Apartments

14280 NE 6th Ave, North Miami, FL 33161

Listing Price: $4,295,000

Cap Rate
4.60%
Number of Units
19
GRM
10.98
Occupancy
95.0%
Price/Unit
$226,053
Price/Gross SF
$515.98
Gross SF
8,324

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Royal Oak Apartments, a rental community located in North Miami. The property is located on 143rd Street and 6th Avenue, which is one of the main North/South traffic corridors in the area. The property benefits from being near numerous public schools, which leads to a family-oriented community. Additionally, being less than a 10-minute drive from Biscayne Boulevard there are numerous retail and entertainment options for its tenant base to enjoy.

Royal Oaks Apartments offers its residents an updated and secured place to call home while still being near all North Miami has to offer and its major thoroughfares. The property also offers residents on-site parking, on-site laundry facility, secured entrances with surveillance. The community is made up of 19 units and contains a mix of studio and one-bedroom units. The units have new mini split air-conditioning systems, impact windows, updated kitchens, updated bathrooms, recessed lighting. The building has also had the roof resealed, railings repaired as well as other cosmetic improvements. The property was built in 1959 and sits on 0.40 acres.


NORTH MIAMI ECONOMY

Royal Oak Apartments is located in the heart of the City of North Miami which was incorporated in 1953 and is home to over 60,000 residents. North Miami is the sixth largest city in Miami-Dade County. It is home to one of the youngest and most ethnically diverse communities in the entire state. North Miami is uniquely positioned to tap into the workforce of both Miami-Dade and Broward Counties. It is situated between Interstate 95 and Biscayne Bay and from Biscayne Park and Miami Shores to North Miami Beach and Aventura. The city is home to the Biscayne Bay campus of Florida International University. Barry University is also a short distance away in Miami Shores. There are approximately 2,900 businesses in the City of North Miami and nearly 10 percent of those businesses are related to entertainment.

Investment Highlights

  • Major Capital Improvements Made Under Current Ownership
  • Meticulously Maintained Turn-Key Asset
  • Majority of Units Have Private Balconies
  • Excellent North Miami location
  • Zoning is 100 Units Per Acre Allowing for Potential Redevelopment in the Future

Exclusively Listed By

Multifamily

Royal Oak Apartments

Listing Price: $4,295,000

Cap Rate
4.60%
Number of Units
19
GRM
10.98
Occupancy
95.0%
Price/Unit
$226,053
Price/Gross SF
$515.98
Gross SF
8,324

Investment Highlights

  • Major Capital Improvements Made Under Current Ownership
  • Meticulously Maintained Turn-Key Asset
  • Majority of Units Have Private Balconies
  • Excellent North Miami location
  • Zoning is 100 Units Per Acre Allowing for Potential Redevelopment in the Future

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Royal Oak Apartments, a rental community located in North Miami. The property is located on 143rd Street and 6th Avenue, which is one of the main North/South traffic corridors in the area. The property benefits from being near numerous public schools, which leads to a family-oriented community. Additionally, being less than a 10-minute drive from Biscayne Boulevard there are numerous retail and entertainment options for its tenant base to enjoy. Royal Oaks Apartments offers its residents an updated and secured place to call home while still being near all North Miami has to offer and its major thoroughfares. The property also offers residents on-site parking, on-site laundry facility, secured entrances with surveillance. The community is made up of 19 units and contains a mix of studio and one-bedroom units. The units have new mini split air-conditioning systems, impact windows, updated kitchens, updated bathrooms, recessed lighting. The building has also had the roof resealed, railings repaired as well as other cosmetic improvements. The property was built in 1959 and sits on 0.40 acres. NORTH MIAMI ECONOMY Royal Oak Apartments is located in the heart of the City of North Miami which was incorporated in 1953 and is home to over 60,000 residents. North Miami is the sixth largest city in Miami-Dade County. It is home to one of the youngest and most ethnically diverse communities in the entire state. North Miami is uniquely positioned to tap into the workforce of both Miami-Dade and Broward Counties. It is situated between Interstate 95 and Biscayne Bay and from Biscayne Park and Miami Shores to North Miami Beach and Aventura. The city is home to the Biscayne Bay campus of Florida International University. Barry University is also a short distance away in Miami Shores. There are approximately 2,900 businesses in the City of North Miami and nearly 10 percent of those businesses are related to entertainment.

Exclusively Listed By

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