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Multifamily

Summit 5711

5711 NW 2nd St, Miami, FL 33126

Listing Price: $1,175,000

Cap Rate
4.00%
Number of Units
4
Occupancy
100.0%
Price/Unit
$293,750

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Summit 5711, two duplexes located at 5711 NW 2nd Street and 212 NW 57th Avenue in Miami, Florida. Summit 5711 is comprised of two one-story buildings constructed of concrete block with a hip roof. The two lots total 0.30 acres zoned T5L which allows by right 65 units per acre. The unit mix is comprised of two, one-bedroom / one-bathroom units and two, two-bedroom / one-bathroom units. The residential units have tile floors and central air-conditioning units and were recently renovated. Tenant is responsible for water and electric. Summit 5711 is located within the West Airport submarket. This submarket is comprised of single-family dwellings and multifamily buildings constructed mostly between 1960 and the 1980’s. This is one of the strongest blue collar rental markets in Miami-Dade county and properties seldom trade hands. The main economic drivers are the Miami International Airport, the Blue Lagoon Office Park and all the warehouse and logistic business surrounding the Airport. In addition, it has convenient access to major thoroughfares such as Dolphin Expressway and the Palmetto Expressway. Moreover, Summit 5711 is within very close proximity to public transportation, West Flagler Street, City of Miami Fire Station and Airpark Plaza.

Investment Highlights

  • Two Renovated Duplexes
  • T5-L Zoning (65 Units per Acre)
  • Potential to Add 4 Additional Units
  • Concrete Block Construction
  • Off-Street Parking
  • Great Unit Mix of One and Two Bedroom Units
  • Frontage to 57th Avenue

Exclusively Listed By

Listing Price: $1,175,000

Cap Rate
4.00%
Number of Units
4
Occupancy
100.0%
Price/Unit
$293,750

Investment Highlights

  • Two Renovated Duplexes
  • T5-L Zoning (65 Units per Acre)
  • Potential to Add 4 Additional Units
  • Concrete Block Construction
  • Off-Street Parking
  • Great Unit Mix of One and Two Bedroom Units
  • Frontage to 57th Avenue

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Summit 5711, two duplexes located at 5711 NW 2nd Street and 212 NW 57th Avenue in Miami, Florida. Summit 5711 is comprised of two one-story buildings constructed of concrete block with a hip roof. The two lots total 0.30 acres zoned T5L which allows by right 65 units per acre. The unit mix is comprised of two, one-bedroom / one-bathroom units and two, two-bedroom / one-bathroom units. The residential units have tile floors and central air-conditioning units and were recently renovated. Tenant is responsible for water and electric. Summit 5711 is located within the West Airport submarket. This submarket is comprised of single-family dwellings and multifamily buildings constructed mostly between 1960 and the 1980’s. This is one of the strongest blue collar rental markets in Miami-Dade county and properties seldom trade hands. The main economic drivers are the Miami International Airport, the Blue Lagoon Office Park and all the warehouse and logistic business surrounding the Airport. In addition, it has convenient access to major thoroughfares such as Dolphin Expressway and the Palmetto Expressway. Moreover, Summit 5711 is within very close proximity to public transportation, West Flagler Street, City of Miami Fire Station and Airpark Plaza.

Exclusively Listed By

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