Investment Overview

Seville Apartments is a 27-unit apartment building located in the city of North Miami Beach which is in Miami-Dade County, Florida. The building is a three-story apartment community, consisting of 12 one-bedroom/one-bathroom units at approximately 700 rentable square feet, three two-bedroom/one-bathroom units at approximately 775 rentable square feet and 12 two-bedroom/two-bathroom units at about 900 rentable square feet. The units have central air-conditioning and heat, separate hot-water heaters, and patios or balconies. Select units have washer/dryers in the units. The units have been extensively renovated and updated over the last several years. The common areas also offer tenants on-site laundry rooms, elevator, and open parking for residents and guests. Water, sewer and trash removal are included in the rent. The building was constructed in 1968 and sits on a 0.62-acre site. The property fronts on Northeast 19th Court, several blocks west of Biscayne Boulevard (US-1) and just south of Northeast 163rd Street, which are two of the busiest commercial corridors in northern Miami-Dade County. The property’s neighborhood sits west of West Dixie Highway, east of Northeast 18th Avenue, and south of Northeast 163rd Street. The area is made up of mostly low-to-medium density multifamily buildings and single-family homes. The City of North Miami Beach municipal buildings are about half a mile north of the subject property on Northeast 19th Avenue, and there is a Florida International University campus several blocks north of the subject.