Off Market 3 unit Condo Package West of Wynwood Miami, 10 cap

[Gregory Avalone]

Contact for additional details, this will sell fast. 305-900-7391.

Price: $295,000 CASH ONLY

Est. Rehab: $0

Layout: Sale is for 3 Condos. Built in 1991.

Off Market deal for 3- Unit Condo package in Prime Allapatah in the WOW District, just west of central Wynwood.
Amazing location walking distance to Wynwood Walls, Zack the Baker and all the hot spots!

Better than a Triplex, this package is turn key with central AC and no improvements required! 1/1, 1/1, and 3/2!!! Best deal for 3 units in this area with potential to make a 10% Cap Rate with conservative market rents.

Description:
Unit 1: 1/1
Unit 2: 1/1
Unit 7: 3/2

Current Rent:
UNIT 1: $650 / month
UNIT 2: $650 / month
UNIT 7: $1,175 / month
TOTAL: $2,475 per month ($29,700 per Yr)

Potential Rent:
UNIT 1: $1,000- $1,100/ month
UNIT 2: $1,000- $1,100/ month
UNIT 7: $1,600- $1,700/ month
TOTAL: $3,600 - $3,900/ month ($43k- $46k/ Yr)

HOA: (Covers insurance, trash, maintenance..)
UNIT 1: $190 / month
UNIT 2: $190 / month
UNIT 7: $384 / month
TOTAL: $764 per month ($9,168 per Yr)

2016 Taxes:
UNIT 1: $630.36
UNIT 2: $630.36
UNIT 7: $852.36
TOTAL: $2,113.08 per Yr