Updated almost 8 years ago on .
Off Market Duplex In Little River Miami, light rehab, 10% cap
Price: $189,000 CASH or Hard Money ONLY
Est. Rehab: $10k-30k
Cap Rate Potential: 10%+
Est. MKT. Rent $2600/month
Current Rent $2320/month
Layout: 4 bd, 3 Ba (1608 sqft, 7250 sqft lot )
Amazing Off-Market duplex property in prime Little River location, east of I-95. Property is CBS and features two houses, with a 2/2 in front and a 2/1 in the rear. Everything has been renovated in excellent condition, including the roof and hurricane impact windows. Tenants are month to month with room to increase rents, giving you a 10%+ cap rate.
There are open liens/permits which buyer will need to take. The back unit has an extra 3rd bedroom which needs to be removed or legalized back into a porch. Some work was done without permits, although should be up to code, but the new buyer will need to open and close out these items.
Tenants month to month
Unit 1 - $1,170/mo
Unit 2 - $1,150/mo