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Multifamily

Villas of Shenandoah

1818 SW 22nd Ave, Miami, FL 33145

Listing Price: $5,200,000

Cap Rate
4.89%
Number of Units
24
GRM
13.50
Occupancy
95.0%
Price/Unit
$216,667
Price/Gross SF
$397.55
Gross SF
13,080

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale, Villas of Shenandoah, a 24-unit apartment complex located in Miami, Florida. The complex underwent a full gut renovation between 2018 and 2020. Building 1814 was completed in January 2019 and Building 1818 was completed in January of 2020. Since completion of the projects, all the units have been leased and experienced minimal turnover. The complex is located at 1814-1818 SW 22nd Avenue within the Shenandoah neighborhood which is defined by Southwest 8th Street to the north, Coral Way to the south, Southwest 12th Avenue to the east and Southwest 27th Avenue to the west.

Villas of Shenandoah consist of two three-story buildings situated on a 0.24 acre-lot. All the units are one-bedroom / one-bathroom units with approximately 600 square feet of living space. The building has a new fire alarm system and fire sprinkler system in the hallways, commercial grade PVC vinyl flooring, LED lighting, call box and key fob entrance, 24-hour surveillance system on the exterior and interior of the buildings, WIFI enabled washer and dryer units, pressure treated wood beams throughout the building, impact windows, metal fire doors, balconies with a seating area, and courtyard with a BBQ area.

The interior of the units offers a spacious floor plan wit air conditioning with exposed ductwork, modern wood cabinetry, stainless steel appliances, blackout curtains, vinyl wood flooring, TV/Internet/Ethernet service, soundproof walls, quartz counter tops, mounted microwaves, electric kitchen appliances, individual water meters, tankless water heater in each unit, LED lighting and modern tiled bathrooms and showers.

Investment Highlights

  • Fully Renovated Project (2019-2020)
  • Very Desirable Shenandoah Location
  • Walking Distance from Coral Way
  • Upside in Rental Income
  • Assumable Loan (Building 1814)
  • State of the Art Interior Design, Construction and Materials

Exclusively Listed By

Listing Price: $5,200,000

Cap Rate
4.89%
Number of Units
24
GRM
13.50
Occupancy
95.0%
Price/Unit
$216,667
Price/Gross SF
$397.55
Gross SF
13,080

Investment Highlights

  • Fully Renovated Project (2019-2020)
  • Very Desirable Shenandoah Location
  • Walking Distance from Coral Way
  • Upside in Rental Income
  • Assumable Loan (Building 1814)
  • State of the Art Interior Design, Construction and Materials

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale, Villas of Shenandoah, a 24-unit apartment complex located in Miami, Florida. The complex underwent a full gut renovation between 2018 and 2020. Building 1814 was completed in January 2019 and Building 1818 was completed in January of 2020. Since completion of the projects, all the units have been leased and experienced minimal turnover. The complex is located at 1814-1818 SW 22nd Avenue within the Shenandoah neighborhood which is defined by Southwest 8th Street to the north, Coral Way to the south, Southwest 12th Avenue to the east and Southwest 27th Avenue to the west.

Villas of Shenandoah consist of two three-story buildings situated on a 0.24 acre-lot. All the units are one-bedroom / one-bathroom units with approximately 600 square feet of living space. The building has a new fire alarm system and fire sprinkler system in the hallways, commercial grade PVC vinyl flooring, LED lighting, call box and key fob entrance, 24-hour surveillance system on the exterior and interior of the buildings, WIFI enabled washer and dryer units, pressure treated wood beams throughout the building, impact windows, metal fire doors, balconies with a seating area, and courtyard with a BBQ area.

The interior of the units offers a spacious floor plan wit air conditioning with exposed ductwork, modern wood cabinetry, stainless steel appliances, blackout curtains, vinyl wood flooring, TV/Internet/Ethernet service, soundproof walls, quartz counter tops, mounted microwaves, electric kitchen appliances, individual water meters, tankless water heater in each unit, LED lighting and modern tiled bathrooms and showers.

Exclusively Listed By

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