OFF MARKET-10 MULTI-UNIT LISTING-HIALEAH, FL - CAP 7.6% (8.7%+)
10 UNITS MULTIFAMILY IN HIALEAH, FL
This is a 4th structure with 1 unit. See explanation below.
855 SQ FT STORAGE
PRICE REDUCED from $980,000 to $920,000
7.6% CAP RATE WITH POTENTIAL FOR 8.7%
OWNER FINANCING with $500k down at 6% for 3 years
10 Units 1/1s rented at $725 to $850/mo (See attached rent roll)
3 separate structures in one folio
Building area: 5,800 sqft
Lot: 13,500 sqft
Year built: 1937
Updated in the last 10 years. Roof in very good conditions
Gross Income: $92,400
Expenses:
Water $2758.32/year
Trash $1915.68/year
Lawn $495/year
FPL $1378.80/year
Maint $3600/year
License $190/year
Insurance $3948.18/year
Taxes $7967/year 2015
Total Exp: $22,162.98
This picture is a 4th structure with 2 rooms and a bath which can be rented at $850/mo. The seller is not including this income cause the unit is currently occupied by a family member rent free. This structure has been there for a long time (Possibly over 30 years). The new owner can make an extra $10,200 per year with this unit.
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An NCND/MFA with a Biography, non-binding Letter of Intent and/or non-invasive Proof of Funds (2 of 3 will be sufficient) the prerequisites that need to be submitted in order for additional details to be released to prospective clients