value-add opportunity · 2019. 10. 30. · proforma cap 6.2% asking price $625,000 area...
TRANSCRIPT
Value-add opportunity
Shenandoah Fourplex
FOR SALE 2161 SW 12 STREET // MIAMI // FLORIDA
Multifamily building
featuring 4 units in Little Havana.
FOR SALE $625,000
Colliers International South Florida, LLC 801 Brickell Avenue, Suite 850
Miami, FL 33131+1 305 359 3690
colliers.com/SouthFlorida
©2019 Colliers International. Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification.
Gerard YetmingExecutive Managing Director+1 786 517 [email protected]
Mitash KripalaniVice President+1 786 271 [email protected]
Julian ZunigaAssociate+1 786 547 [email protected]
Virgilio FernandezAssociate+1 305 613 [email protected]
FOR SALE 2161 SW 12 STREET // MIAMI // FLORIDA
Population
475,224
Average Household Income
$78,631
Per Capita Income
$32,324
Total Households
194,598
Median Age
39.8
Airport
16 minutes
INVESTMENT HIGHLIGHTS
Address 2161 SW 12 Street
Type Multifamily
Building Size 2,520 SF
Lot Size 6,040 SF
NOI $37,168
Proforma NOI $40,000
Cap 6% (with reassessed taxes)
Proforma Cap 6.2%
Asking Price $625,000
PROPERTY SPECIFICATIONSAREA DEMOGRAPHICS - 5 MILE RADIUS
Rent RollUnit Name Units Square Feet Current Rent Rent per SF Market RentStudios 1 450 $750 $1.67 $9002 BD / 1 BA 2 700 $1,250 $1.79 $1,3003 BD / 2 BA 1 800 $1,700 $2.13 $1,700
> Prime location in the heart of Little Havana just a few blocks south of Eighth Street
> Three of four units are renovated and property has hurricane impact windows
> Rental rates experiencing double digit growth in the area during the last few years
Total 4 2,650 $4,950 $5,200
Average 663 $1,238 $1.31 $1,300
Total per year $59,400 $62,400
FINANCIAL INFORMATION
SW 22ND AVENUE
MARLINS PARK
PROPERTY DESCRIPTION
Three bedroom / two-bathroom main home with a studio and two, two-bedroom / one-bath apartments built on a separate structure.
SUBJECT
DOWNTOWN MIAMI
SW 12tTH STREET
FOR SALE 2161 SW 12 STREET // MIAMI // FLORIDA