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Multifamily

Oleta Townhomes

142 NW 166th St, Miami, FL 33169

Listing Price: $6,937,500

Cap Rate
4.25%
Number of Units
20
Occupancy
95.0%
Price/Unit
$346,875
Price/Gross SF
$312.84
Gross SF
22,176

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Oleta Townhomes. The offering consists of 20 townhomes in five four-unit buildings located in Unincorporated Miami-Dade County just north of the city of North Miami, Florida. The townhomes are located in two similar residential neighborhoods approximately 20 blocks apart. The communities were built in 2006 and 2007 of concrete block with stucco exteriors and are situated on a total of 1.08 acres. Two buildings are located at 142 NW 166th Street. The property consists of eight townhomes. All are four-bedroom and two-bathroom with an average living area square footage of 1,183. Both buildings are located on one parcel which is approximately .46 acres. The remaining three buildings are located at 14000, 14040 and 14080 NE 2nd Avenue. This property consists of twelve units in three buildings which are adjacent to each other and on separate parcels that range in size from .20 to .22 acres. All are four-bedroom and two-bathroom with an average living area square footage of 1,265. All townhomes have large eat-in kitchens with all wood cabinetry, granite countertops and all electric appliances including dishwashers. There are washer and dryer hook-ups, central heating and air-conditioning and individual electric water heaters. Each townhome is laid out with the kitchen, living room, one bedroom and a full bathroom on the ground floor. Upstairs are three bedrooms, a second full bathroom and a utility closet housing the air-conditioning unit and hot water heater. All have ceramic tile floors throughout the first floor and in the second-floor bathroom, and carpet in the second-floor bedrooms and common areas. Each townhome has a separate electric and water meter. The properties are located approximately two miles from one another, which makes management convenient. The area surrounding the buildings provides excellent access to the Golden Glades Interchange which allows residents to easily access all of Miami-Dade County and Broward County. There are a number of new developments in the immediate area of all different product types. The Jefferson Plaza on North Miami Beach Blvd which is a 200,000 +/- square foot Publix anchored shopping center, as well as a 400 +/- unit residential building planned just west of the subject properties along I-95.

Investment Highlights

  • All 4-bedroom and 2-bathroom Townhomes
  • Buildings developed in 2006 and 2007
  • Individual water and electric meters
  • Excellent location east of I-95 and close to highways
  • Current in-place rents are over 10% below market
  • Existing assumable financing available

Exclusively Listed By

Multifamily

Oleta Townhomes

Listing Price: $6,937,500

Cap Rate
4.25%
Number of Units
20
Occupancy
95.0%
Price/Unit
$346,875
Price/Gross SF
$312.84
Gross SF
22,176

Investment Highlights

  • All 4-bedroom and 2-bathroom Townhomes
  • Buildings developed in 2006 and 2007
  • Individual water and electric meters
  • Excellent location east of I-95 and close to highways
  • Current in-place rents are over 10% below market
  • Existing assumable financing available

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Oleta Townhomes. The offering consists of 20 townhomes in five four-unit buildings located in Unincorporated Miami-Dade County just north of the city of North Miami, Florida. The townhomes are located in two similar residential neighborhoods approximately 20 blocks apart. The communities were built in 2006 and 2007 of concrete block with stucco exteriors and are situated on a total of 1.08 acres. Two buildings are located at 142 NW 166th Street. The property consists of eight townhomes. All are four-bedroom and two-bathroom with an average living area square footage of 1,183. Both buildings are located on one parcel which is approximately .46 acres. The remaining three buildings are located at 14000, 14040 and 14080 NE 2nd Avenue. This property consists of twelve units in three buildings which are adjacent to each other and on separate parcels that range in size from .20 to .22 acres. All are four-bedroom and two-bathroom with an average living area square footage of 1,265. All townhomes have large eat-in kitchens with all wood cabinetry, granite countertops and all electric appliances including dishwashers. There are washer and dryer hook-ups, central heating and air-conditioning and individual electric water heaters. Each townhome is laid out with the kitchen, living room, one bedroom and a full bathroom on the ground floor. Upstairs are three bedrooms, a second full bathroom and a utility closet housing the air-conditioning unit and hot water heater. All have ceramic tile floors throughout the first floor and in the second-floor bathroom, and carpet in the second-floor bedrooms and common areas. Each townhome has a separate electric and water meter. The properties are located approximately two miles from one another, which makes management convenient. The area surrounding the buildings provides excellent access to the Golden Glades Interchange which allows residents to easily access all of Miami-Dade County and Broward County. There are a number of new developments in the immediate area of all different product types. The Jefferson Plaza on North Miami Beach Blvd which is a 200,000 +/- square foot Publix anchored shopping center, as well as a 400 +/- unit residential building planned just west of the subject properties along I-95.

Exclusively Listed By

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