Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed / one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows / doors

14280 NORTH EAST 6TH AVE, North Miami

$3,895,000 USD
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      Address14280 NORTH EAST 6TH AVE, North Miami
      Type of PropertyIncome / MultiFamily
      Type of BusinessApartments
      Price$3,895,000
      Property StatusActive
      MLS NumberA11837979
      Property Size17416
      Lot Size17416
      Year Built1959
      Folio Number06-22-19-011-0070
      Zoning Information3800
      Days on Market41

      Detailed Description: Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed / one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows / doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.

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      Address Information
      StateFlorida
      CityNorth Miami
      CountyMiami-Dade County
      Zip Code33161
      Address14280 NORTH EAST 6TH AVE
      Section19
      Zip Code (4 Digits)2998
      Financial Information
      Price$3,895,000
      Price per Foot$0
      Folio Number06-22-19-011-0070
      Tax Amount$57,594
      Possession InformationFunding
      Full Descriptions
      Detailed DescriptionWelcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed / one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows / doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.
      Roof DescriptionBuilt-Up
      Floor DescriptionTerrazzo, Tile, Vinyl
      Cooling DescriptionOther
      Heating DescriptionOther
      Water DescriptionPublic
      Sewer DescriptionPublic Sanitation
      Property parameters
      Living Area17416
      Lot Size17416
      Total Acreage0.000
      Zoning Information3800
      Maximum Leasable Size17416
      Year Built1959
      Type of PropertyIncome / MultiFamily
      Type of BusinessApartments
      Construction TypeConcrete Block Construction
      Stories Number2
      Street DirectionNorth East
      Listed withFausto Commercial Realty Consultants Inc