Basic Information
- MLS # A11625158
- Type Multi Family
- Status Active
- Year Built 1959
- Total Sqft 17,416
- Date Listed 07/17/2024
- Days on Market 295
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.
Amenities
Exterior Features
- Waterfront No
- Parking Spaces 0
- Pool No
- Construction Type Block
- Parking Description
- Roof Description Built Up
- Style Multi Family
Interior Features
- Adjusted Sqft 17,416Sq.Ft
- Cooling Description Other
- Floor Description Terrazzo, Tile, Vinyl
- Heating Description Other
- Sqft 17,416 Sq.Ft
Property Features
- Address 14280 NE 6th Ave
- Aprox. Lot Size 17,416
- City North Miami
- Construction Materials Block
- County Miami- Dade
- Furnished Info no
- Levels Two
- Listing Terms Cash, Conventional, Other
- Occupant Type Tenant
- Possession Closing And Funding
- Postal City North Miami
- Public Survey Section Two
- Roof Built Up
- Sewer Description Public Sewer
- Stories 2
- Subdivision Complex
- Subdivision Info
- Tax Amount $66,985
- Tax Legal desc 195242 R U C K S P A R K P B44-97 L O T7& L O T8 L E S S S21 F T B L K1 L O T S I Z E17416 S Q U A R E F E E T O R20761-1057/21649-37610026 C O C22011-2089012004
- Tax Year 0
- Terms Considered Cash, Conventional, Other
- Type of Property Multi Family
- Water Source Public
- Window Features Impact Glass
- Year Built Details Resale
14280 NE 6th Ave
North Miami, FL 33161Similar Properties For Sale
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The multiple listing information is provided by the Miami Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2023-present Miami Association of Realtors®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: Fausto Commercial Realty Consultants Inc. tel: 305-431-2258
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