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Multifamily

12th Avenue Apartments

1281 NW 61st St, Miami, FL 33142

Listing Price: $4,350,000

Cap Rate
6.11%
Number of Units
33
Occupancy
95.0%
Price/Unit
$131,818
Price/Gross SF
$280.72
Gross SF
15,496

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale 12th Avenue Apartments, a 33-unit rental apartment building located at 1281 NW 61st Street in Miami, Florida. 12th Avenue Apartments is a three-story apartment building constructed of concrete block with a flat roof. The property has 30 one-bedroom / one-bathroom units and three two-bedroom / one-bathroom units. There is off-street parking in front of the property. 12th Avenue Apartments is located within the Liberty City submarket which is the northwest section of the city of Miami, just west of Interstate 95, spanning from Northwest 56th Street to Northwest 79th Street. The Property is within walking distance from public transportation, schools, public parks and a hospital. The North Shore Medical Center is within three miles north of The Property. The hospital has 357 beds and over 700 employees. Moreover, 12th Avenue Apartments is just two blocks south of the first and largest mixed income project in Miami-Dade called New Liberty Square Apartments. The $300 million project incorporates public, affordable, workforce and market-rate units. This 1,455-unit project will be completed in 2023 and will include a Publix supermarket and retail stores. The first phase with 204 units was delivered in 2019. 12th Avenue Apartments offers a great opportunity for an investor to add value through increasing occupancy and take advantage of all the new projects and developments that are taking place in the immediate area.

Investment Highlights

  • 38 Units and Located in an Opportunity Zone
  • Value Add Opportunity Through Increasing Occupancy
  • Great Unit Mix with One- and Two-Bedroom Apartment Units
  • Close Proximity to Hospitals, Schools and Public Transportation
  • Corner Location
  • Densely Populated Area

Exclusively Listed By

Multifamily

12th Avenue Apartments

Listing Price: $4,350,000

Cap Rate
6.11%
Number of Units
33
Occupancy
95.0%
Price/Unit
$131,818
Price/Gross SF
$280.72
Gross SF
15,496

Investment Highlights

  • 38 Units and Located in an Opportunity Zone
  • Value Add Opportunity Through Increasing Occupancy
  • Great Unit Mix with One- and Two-Bedroom Apartment Units
  • Close Proximity to Hospitals, Schools and Public Transportation
  • Corner Location
  • Densely Populated Area

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale 12th Avenue Apartments, a 33-unit rental apartment building located at 1281 NW 61st Street in Miami, Florida. 12th Avenue Apartments is a three-story apartment building constructed of concrete block with a flat roof. The property has 30 one-bedroom / one-bathroom units and three two-bedroom / one-bathroom units. There is off-street parking in front of the property. 12th Avenue Apartments is located within the Liberty City submarket which is the northwest section of the city of Miami, just west of Interstate 95, spanning from Northwest 56th Street to Northwest 79th Street. The Property is within walking distance from public transportation, schools, public parks and a hospital. The North Shore Medical Center is within three miles north of The Property. The hospital has 357 beds and over 700 employees. Moreover, 12th Avenue Apartments is just two blocks south of the first and largest mixed income project in Miami-Dade called New Liberty Square Apartments. The $300 million project incorporates public, affordable, workforce and market-rate units. This 1,455-unit project will be completed in 2023 and will include a Publix supermarket and retail stores. The first phase with 204 units was delivered in 2019. 12th Avenue Apartments offers a great opportunity for an investor to add value through increasing occupancy and take advantage of all the new projects and developments that are taking place in the immediate area.

Exclusively Listed By

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