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Multifamily

Magic City Apartments

5990 NE 4th Ct, Miami, FL 33137

Listing Price: $3,360,000

Cap Rate
5.66%
Number of Units
12
GRM
11.21
Occupancy
95.0%
Price/Unit
$280,000
Price/Gross SF
$351.61
Gross SF
9,556

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale “Magic City Apartments” two six-unit buildings located at 5954 NE 4th Court and 5990 NE 4th Court in the city of Miami, Florida. The subject buildings were built in 1971 and 1969, each property offers off-street parking, laundry facility and the unit mix comprised of 12 two-bedrooms / one-bathroom units.
The interior of the units was updated between 2018 and 2024. The renovations and upgrades included new flooring, new kitchen cabinets and kitchen countertops, new electric meters, one new roof, new water heaters and bathrooms. In addition, all units are under yearly leases and each building obtained the 40-year recertification in 2019 and 2021 respectively.

Investment Highlights

  • Walking Distance from Magic City District
  • Upside in Rental Income
  • Off-Street Parking Spaces
  • Laundry Facility
  • Updated Units
  • All Two-Bedroom / One-Bathroom Units

Exclusively Listed By

Multifamily

Magic City Apartments

Listing Price: $3,360,000

Cap Rate
5.66%
Number of Units
12
GRM
11.21
Occupancy
95.0%
Price/Unit
$280,000
Price/Gross SF
$351.61
Gross SF
9,556

Investment Highlights

  • Walking Distance from Magic City District
  • Upside in Rental Income
  • Off-Street Parking Spaces
  • Laundry Facility
  • Updated Units
  • All Two-Bedroom / One-Bathroom Units

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale “Magic City Apartments” two six-unit buildings located at 5954 NE 4th Court and 5990 NE 4th Court in the city of Miami, Florida. The subject buildings were built in 1971 and 1969, each property offers off-street parking, laundry facility and the unit mix comprised of 12 two-bedrooms / one-bathroom units. The interior of the units was updated between 2018 and 2024. The renovations and upgrades included new flooring, new kitchen cabinets and kitchen countertops, new electric meters, one new roof, new water heaters and bathrooms. In addition, all units are under yearly leases and each building obtained the 40-year recertification in 2019 and 2021 respectively.

Exclusively Listed By

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