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Miami-Dade Transit Central Bus Facility

Miami, Florida 33142

  • 0 beds
  • 0 baths
  • 0 sqft

Description

24 UNITS MIAMI FL FULLY OCCUPIED DEAL

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0 bedrooms, 0 baths, 0 sqft. Built in 0.
 

24 UNITS MIAMI FL FULLY OCCUPIED DEAL

6020 NW 13TH AVE MIAMI FL 33142

ARV $5,500,000 

Price is $5 Million. 

Earnest Money Deposit is $225K within 3 days of executed contract

15 days - DD

Cash only.

Cap rate is 5.5%

Building Class is C

Occupancy: 100%

Completely gated community

100 yards from property is gentrification in progress - developer purchased multiple blocks and has begun gentrification and is to include a huge shopping mall - developer has invested close to $4 Billion dollars - approx 5 years to complete

85% of the residents are Section 8 tenants with zero problems. Owner does his own thorough background check on each tenant. All leases are 1 year leases.

Tremendous value add is rents are below market rent and the owner upgraded half of the income with section 8 

Owner has spent $500K in upgrades and renovations within the last 2 years. he expects very little maintenance - approx $100-$200/month as everything was upgraded.

new roof in 2020

new impact doors

installed 14 security cameras

new playground for children with keystone benches

new asphalt

completely updated electric and plumbing

all apartments have been upgraded with new kitchens, new bathrooms, new toilets and pedestal sinks.

All renovations and updates approved by the City of Miami and the 40-year recertification warranty will transfer to the new owner.

The owner recently increased rents by $300 for each unit for only 12 units. He purposely left the other half for the new owner so they can come in with a tremendous value add by increasing rents for the remaining 12 units.

Also, there is an almost immediate increase in value in 2023 because there's a new mall 100 feet from the property. And the builder I mentioned in the email will have the remaining 30 buildings (total 80+) in the same neighborhood within a few block radius which will increase value ^ these new buildings will not accept section 8 tenants. 

Also, each tenant in the subject property, whether section 8 or not, has gone through a complete background check. No random people are in the property. He is careful with his tenant selection. 

FINANCIALS AVAILABLE TO DIRECT BUYERS ONLY!

 DON'T MISS OUT ON THIS OPPORTUNITY

More info: (727) 224-1720

BUYERS ARE REQUESTED TO DO THEIR OWN DILIGENCE ON THIS PROPERTY. YOU MUST VERIFY ALL INFORMATION PROVIDED INDEPENDENTLY.
Buyer pays all closing costs
Get in touch with us now!
NOTE: YOU ARE STRICTLY PROHIBITED FROM CONTACTING ANY SELLER.
Make an Offer: Submit your offer and information at the top of this screen by clicking "Make an Offer".
Contract: A contract will be delivered electronically once an agreement has been made and must be executed by Final Buyer within 24 hours. Once the contract is signed, we will introduce you to a third party Title Company we use who will help facilitate the closing process.
Earnest Money Deposit (EMD) must be wired to the Title Company within 1 day of Contract signing.
Closing Costs: End Buyer will pay all closing costs and will be outlined on the final settlement statement of the deal. 

DISCLAIMER: This is an Assignment of Contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT Brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.

 

If you are interested in this deal, CLICK THE BUTTON ABOVE TO GET THIS DEAL.

 

Walter Devenne

+18136880012

walter.devenne@thedispooutlet.com

Click Here to Get This Deal

Features

Property Facts

  • Purchase Price : $ 5M
  • After Repair Value : $ 6M
  • Property Type : Single Family
  • Deal Type : Wholesale Deal
  • Year Build : 0
  • Parking : Attached Garage
  • Lot Size : 43560 sqft
  • Zoning : Yes

Nearest Airport

  • Miami International Airport2.41 mi

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Posted By Off-Market Deals Guy 01:38 PM 12 Jun 2022