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Ericksons Properties For Sale

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Miami, FL 33136

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Photo 1
Photo 2
$1,700,000
Ericksons
Address Not Disclosed
MLS# A11556602
N/A
Beds
N/A
Baths
5,469
SqFt
0.0%
N/A
Garage
$311
$/SqFt
Welcome to a unique value-add opportunity nestled in the heart of the historic and fast-paced overtown neighborhood. This mixed-use multifamily property boasts two buildings: a six-unit residential complex and an accompanying grocery store with additional units, offering a blend of convenience, history, and urban charm.
Guillen and Associates Real Estate Consultants, In
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$1,600,000
$1,575,000
Ericksons
225 NW 16th St, Miami, FL 33136
MLS# A11469018
N/A
Beds
N/A
Baths
3,528
SqFt
1.6% Decrease (-$25,000)
N/A
Garage
$446
$/SqFt
This is a 8 unit a prime opportunity: 8 one-bedroom, one-bath apartments in overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) each unit features separate water and electric meters, as well as wall-mounted ac units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.
New World Realty Group Inc
THINKING OF SELLING YOURMulti Family IN Ericksons?
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Scores

Walk Score®

Very Walkable. Most errands can be accomplished on foot.

86

100

Transit Score®

Excellent Transit. Transit is convenient for most trips.

88

100

Bike Score®

Very Bikeable. Biking is convenient for most trips.

75

100

Sound Score®

Very loud.

63

100

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