Updated almost 8 years ago on .
New Rental Duplex in El Portal, Miami, Full Rehab Needed
Price: $235,000 CASH or Hard Money ONLY
Est. Rehab: $50k+
ARV: $350k+
Cap Rate Potential: 10%+
Est. MKT. Rent $3600/month
Current Rent : VACANT
Layout: 3/2 + 2/1 (1998 sqft, 7344 sqft lot)
CBS! Fantastic opportunity to obtain 2 houses OFF-MARKET on one large lot in El Portal/Miami Shores West, east of I-95!!!
Back house is a 3/2 and front house is a 2/1 with plenty of space to create a 3rd bedroom. Perfect for those who love to renovate as it needs to be redone as there was fire damage.
Back roof is fine but front needs to be replaced.
Property has approved permits from Miami-Dade for the renovation as well as architectural renderings.
$3600 potential monthly rental income giving you a 10-11% Cap Rate after renovations.