OFF MARKET - 20 MULTI-UNIT LISTING - MIAMI, FLORIDA - CAP: 8.1%
20-Unit North Miami Apartment Building
Asking Price: $2,000,000.00
CAP: 8.1%
NOI: $204,000.00
North Miami. 33186.
20 units (1bedroom/1bath)
All units are currently rented at $850.00/month. Rent includes Water.
Expenses Incurred by Owner of Property (yearly):
1. Insurance: $5,000.00
2. Taxes: $19,000.00
3. Water: $12,000 ($1,000.00 per month)
4. FPL (power): $840.00
5. Garbage: $4,680.00 ($390.00 per month)
Total: $41,520.00
Units are rented at $850.00/month: the rental income will be $204,000.00/year. The cap rate, paying full asking price is 8.1%.
Units are rented at $850.00/month: the rental income will be $204,000.00/year. The cap rate, paying $1.8M ($90,000 per unit) is 9.0%.
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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) are the prerequisites that need to be submitted in order for additional details to be released to prospective clients.