Price : $1,800,000
Listing Type : For Sale
Location : FloridaMiami

8 unit apartment building in Coral Gables, which is a desirable city in Miami-Dade County, Florida. Five of the apartments are spacious one bedroom and one bath and three apartments are large efficiencies. All the apartments have beautiful, real oak, hardwood floors. The roof was replaced in 2013, the electrical has been upgraded to circuit breakers, the kitchens and baths have been renovated in recent years, and the apartments have large closets with plenty of storage. The property is well maintained, and there is no deferred maintenance. 100% rented at just below market rates.  Coral Gables is sought after area, which demands higher rental rates.   Current rents may be increased slightly, which will provide upside potential for a new owner. Current net operating income (NOI) of almost $94K and can be easily increased to just over $100K annually.  Owner pays water and trash. All units on separate electric meters, and tenants pay for their own electric and cable.   Terrific central location in Coral Gables.

Gregory Point Du Jour
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