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%.
Seller financing available
Under market rents
Property is operating as six units, however, appears as five units on Miami-Dade County Property Appraiser
The data relating to real estate for sale on this web site comes in part from the Miami Association of Realtors Regional MLS and is provided here for consumers personal, non-commercial use, It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listed with Colliers International.