Multi family home for sale Miami, Florida 33126

Off Market

Property type: Multifamily

6 Unit Multifamily Investment For Sale in Miami

Opportunity to acquire a six-unit multifamily property in Little Havana, FL. The property is located steps from Marlins Park and has quick access to major highways and Downtown Miami.

The highest and best use for the property is achieved by slightly improving the units and property with $75,000 of capital expenditures to raise rents by $150-$200 per unit. The prospective buyer’s business plan should therefore be to acquire the property using debt at 75% LTV (or more) with a 6% interest rate and hold the property for 5 years. The investor will be stabilizing the property in year 2 with a cap rate of approximately 7%.

PROPERTY HIGHLIGHTS

Seller financing available
Under market rents
Value add
Property is operating as six units, however, appears as five units on Miami-Dade County Property Appraiser