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Multifamily

North Miami Beach Portfolio

2070 NE 162nd St, North Miami Beach, FL 33162

Listing Price: $8,500,000

Cap Rate
3.76%
Number of Units
39
Occupancy
95.0%
Price/Unit
$217,949
Price/Gross SF
$307.46
Gross SF
27,646

Investment Overview

Marcus & Millichap, as exclusive agent, is proud to present to market the North Miami Beach Portfolio. The portfolio is made up of nine buildings, containing 39 units as well as a 14,000 square foot vacant lot in North Miami Beach, Florida. All of the properties are within one block of each other and three of the parcels have the potential to be an excellent redevelopment opportunity. Two of the 39 units are two bedroom / two bathroom units, 13 of the units are two bedroom / one bathroom units, 19 of the units are one bedroom / one bathroom units and the remaining five units are studios. A majority of the units have central air conditioning, while the remaining units have wall unit air conditioners. The properties have recently seen exterior improvements including new paint. Located one block south of Sunny Isles Boulevard, the properties offer easy access to US-1 as well as Interstate 95. The 39 units total 27,646 square feet situated on a total of 1.91 acres. There are many economic drivers in the area including SAE Institute Miami, Nova Southeastern University's North Miami Campus, Florida International University Biscayne Bay Campus, Oleta River State Park, Sunny Isles Beach, and Haulover Beach and Inlet. Recent development in the area includes a Publix anchored shopping center, Costco, Target, Shoreline at SoLe , and One Fifty One at Biscayne. The three parcels that are contiguous encompass 1.44 acres and is zoned B-2 General Business District. The B-2 zoning will allow residential, multifamily or mixed use: In conformance with the RM-23 provisions of Section 24-48 and conditioned upon compatible adjacent uses that will not adversely impact residential units as well as all office, retail and service uses permitted in the B-1 district. The RM-23 zoning would allow for 33 multifamily units to be developed on those parcels. The North Miami Beach Portfolio offers an investor the opportunity to purchase 39 multifamily units with the ability to capitalize on North Miami Beach's recent booming economic development.

Investment Highlights

  • Excellent Location just West of US-1 in North Miami Beach
  • Portfolio Consists of Nine Buildings Across Nearly Two Acres
  • Located in an Opportunity Zone

Exclusively Listed By

Financing By

Multifamily

North Miami Beach Portfolio

Listing Price: $8,500,000

Cap Rate
3.76%
Number of Units
39
Occupancy
95.0%
Price/Unit
$217,949
Price/Gross SF
$307.46
Gross SF
27,646

Investment Highlights

  • Excellent Location just West of US-1 in North Miami Beach
  • Portfolio Consists of Nine Buildings Across Nearly Two Acres
  • Located in an Opportunity Zone

Investment Overview

Marcus & Millichap, as exclusive agent, is proud to present to market the North Miami Beach Portfolio. The portfolio is made up of nine buildings, containing 39 units as well as a 14,000 square foot vacant lot in North Miami Beach, Florida. All of the properties are within one block of each other and three of the parcels have the potential to be an excellent redevelopment opportunity. Two of the 39 units are two bedroom / two bathroom units, 13 of the units are two bedroom / one bathroom units, 19 of the units are one bedroom / one bathroom units and the remaining five units are studios. A majority of the units have central air conditioning, while the remaining units have wall unit air conditioners. The properties have recently seen exterior improvements including new paint. Located one block south of Sunny Isles Boulevard, the properties offer easy access to US-1 as well as Interstate 95. The 39 units total 27,646 square feet situated on a total of 1.91 acres. There are many economic drivers in the area including SAE Institute Miami, Nova Southeastern University's North Miami Campus, Florida International University Biscayne Bay Campus, Oleta River State Park, Sunny Isles Beach, and Haulover Beach and Inlet. Recent development in the area includes a Publix anchored shopping center, Costco, Target, Shoreline at SoLe , and One Fifty One at Biscayne. The three parcels that are contiguous encompass 1.44 acres and is zoned B-2 General Business District. The B-2 zoning will allow residential, multifamily or mixed use: In conformance with the RM-23 provisions of Section 24-48 and conditioned upon compatible adjacent uses that will not adversely impact residential units as well as all office, retail and service uses permitted in the B-1 district. The RM-23 zoning would allow for 33 multifamily units to be developed on those parcels. The North Miami Beach Portfolio offers an investor the opportunity to purchase 39 multifamily units with the ability to capitalize on North Miami Beach's recent booming economic development.

Exclusively Listed By

Financing By

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