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Multifamily

Presidential Apartments

447 NE 125th St, North Miami, FL 33161

Listing Price: $5,940,000

Cap Rate
3.59%
Number of Units
36
Occupancy
95.0%
Price/Unit
$165,000
Price/Gross SF
$277.26
Gross SF
21,424

Investment Overview

Presidential Apartments is a 36-unit, two-story apartment building located in North Miami, Florida which is in Northeast Miami-Dade County. The property is comprised of a “U” shaped building located directly on NE 125th Street. The building was constructed in 1966 of concrete block and painted stucco exterior with a brick facade and sits on a just under one acre of land. The unit mix consists of four studios of approximately 416 RSF, 30 one-bedroom/one-bathroom units of approximately 608 RSF, and two two-bedroom/one-bathroom units of approximately 760 RSF. All apartments have central heating and air-conditioning except for the studios which have individual wall units. Water, sewer and trash removal are included in the rent and the property has on-site parking and laundry facilities. Presidential Apartments fronts on NE 125th Street and sits a few blocks west of downtown North Miami and the intersection of NE 125th Street, Dixie Highway and NE 6th Avenue. NE 125th Street is a main east-west corridor through the northern section of Miami-Dade County. The immediate neighborhood is made up of a mix of multifamily buildings and commercial buildings along NE 125th Street with single-family homes and a few parks immediately to the north and south of NE 125th Street. North Miami is home to several universities including Florida International University’s Biscayne Bay campus and Barry University which is several blocks south of the subject. Presidential Apartments is also conveniently located to most of the employment drivers in the area which run along NE 125th Street and Biscayne Boulevard and access to the beaches is easy by way of NE 123rd Street through Bay Harbor Islands or NE 163rd Street which goes to Sunny Isles. The property offers an investor, attractive cash on cash returns as well as the ability to increase the rental income by continuing to bring rents to market levels.

Investment Highlights

  • Attractive Unit Mix of Studio, One- and Two-Bedroom Apartments
  • Most Units Have Central Air-Conditioning and Heat
  • Off-Street Parking and Laundry Facilities
  • Ability to Increase Value by Bringing Rents to Market Levels
  • Highly Desirable North Miami Location on NE 125th Street
  • Close Proximity to Schools and Universities

Exclusively Listed By

Financing By

Multifamily

Presidential Apartments

Listing Price: $5,940,000

Cap Rate
3.59%
Number of Units
36
Occupancy
95.0%
Price/Unit
$165,000
Price/Gross SF
$277.26
Gross SF
21,424

Investment Highlights

  • Attractive Unit Mix of Studio, One- and Two-Bedroom Apartments
  • Most Units Have Central Air-Conditioning and Heat
  • Off-Street Parking and Laundry Facilities
  • Ability to Increase Value by Bringing Rents to Market Levels
  • Highly Desirable North Miami Location on NE 125th Street
  • Close Proximity to Schools and Universities

Investment Overview

Presidential Apartments is a 36-unit, two-story apartment building located in North Miami, Florida which is in Northeast Miami-Dade County. The property is comprised of a “U” shaped building located directly on NE 125th Street. The building was constructed in 1966 of concrete block and painted stucco exterior with a brick facade and sits on a just under one acre of land. The unit mix consists of four studios of approximately 416 RSF, 30 one-bedroom/one-bathroom units of approximately 608 RSF, and two two-bedroom/one-bathroom units of approximately 760 RSF. All apartments have central heating and air-conditioning except for the studios which have individual wall units. Water, sewer and trash removal are included in the rent and the property has on-site parking and laundry facilities. Presidential Apartments fronts on NE 125th Street and sits a few blocks west of downtown North Miami and the intersection of NE 125th Street, Dixie Highway and NE 6th Avenue. NE 125th Street is a main east-west corridor through the northern section of Miami-Dade County. The immediate neighborhood is made up of a mix of multifamily buildings and commercial buildings along NE 125th Street with single-family homes and a few parks immediately to the north and south of NE 125th Street. North Miami is home to several universities including Florida International University’s Biscayne Bay campus and Barry University which is several blocks south of the subject. Presidential Apartments is also conveniently located to most of the employment drivers in the area which run along NE 125th Street and Biscayne Boulevard and access to the beaches is easy by way of NE 123rd Street through Bay Harbor Islands or NE 163rd Street which goes to Sunny Isles. The property offers an investor, attractive cash on cash returns as well as the ability to increase the rental income by continuing to bring rents to market levels.

Exclusively Listed By

Financing By

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