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601 NW 90th Street - El Portal Village, El Portal, FL
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601 NW 90th Street - El Portal Village
El Portal, FL 33150-2140 - Miami Shores MF Submarket
Number of Units:
.91 AC (39,426 SF)
For Sale Price:
1.29 Parking Spaces / 1,000 SF
Renovation started in 2004 for 2005 delivery of renovated units
Union Street Partners LLC is pleased to offer the El Portal Village Apartments for sale in Miami, Florida. The building was constructed in 1947 and consists of 12 - 1 BR 1 BATH units and 1 - 2 BR 1 BATH unit with central A/C. The current ownership has owned this in excess of 10 years and the current rents are significantly below the immediate market. The current rents for 1 BR units range from $650 to $795 and the 2 bedroom unit rents for $1250 per month. One bedroom rentals in the area are in the $795 - $850 range while 2 bedroom units are $1250+ range.
The property is on a 39,000+ SF lot and has off street parking. Each unit has a private fenced backyard which is a great selling point when renting units. A new owner could create value by bringing all units to market rents and improving the curb appeal of the property by painting, landscaping and a modest renovation of the units as needed. The property also has a current 40 year recertification.
Most of the leases are month to month allowing a new owner flexibility in implementing rental increases.
CLICK HERE TO CONTACT THE SALES BROKER
FOR SALE CONTACTS
Union Street Partners
Gregory P Celentano
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