Off-Market Duplex In Allapattah, Miami, 3 Rental Units Total

[Gregory Avalone]

Price: $250,000 CASH ONLY

Est. Rehab: $5000

ARV: $295k-$315k

Cap Rate Potential: 10%+

Est. MKT. Rent $3500/month

Current Cap: 8%

Current Rent $2550/month

Layout: (2210 sqft, 5400 sqft lot )

Legal Duplex in Allappatah! Is currently being rented as a triplex to 3 tenants:
3/1: $1,200 per month (potential rent is $1,500 base rent)
1/1: $700 per month (potential rent is $1,000 base rent)
1/1: $650 per month (potential is $1,000 base rent)

2 electrical meters, 1 water meter. These are 3 ACTUAL units with full kitchens, bedrooms, respective bathrooms and living rooms.

REPAIRS: $1,500 - $3,000
Portion of fence needs to be fixed. Roof was done recently and in good shape.

Comps:
Duplex 2/1 & 2/1 - 2030 NW 27th St - $317,100
Duplex 3/2 & 3/2 - 2929 NW 22nd Ct - $310,000
Large Duplex 3/2 & 2/1 - 2368 NW 34th St - $365,000
Duplex 3/2 & 2/1 - 2321 NW 33rd St - $285,000

1 Bedroom Condo Style Rental Comps:
1/2 - 2647 NW 25th Ave Unit#306 - $1,250
1/1 2536 NW 24 ST Unit#4G - $1,160
1/1 - 2536 NW 24th St Unit#3C - $1,150

2 Bedroom Duplex Style Rental Comps:
2/2 -- 1753 NW 17 st Unit#2: $1,400
2/1 -- 1753 NW 17 ST Unit#3: $1,400
2/2 -- 1720 NW N River Dr Unit#202: $1,400

3 Bedroom Duplex Style Rental Comps:
3/2 - 2132 NW 26th St - $1,675
3/2 - 1353 NW 30th St - $1,625
3/2 - 1328 NW 25th St - $1,550

Contact for details, 305-900-7391