14260 SW 88th Ave - Apartments FOR SALE


Palmetto Bay, FL 33176- Palmetto Bay North
$1,600,000 USD
14260 SW 88th Ave, Palmetto Bay, FL for Sale
$1,600,000 USD
Apartments - FOR SALE
1/31
null | 4.2% Cap Rate

14260 SW 88th Ave
Palmetto Bay, FL 33176
Palmetto Bay North


HIGHLIGHTS

  • Exceptionally Rare And Lucrative Opportunity To Acquire A Well-Maintained, Value-Add 6-Unit Multifamily Community In The Village Of Palmetto Bay
  • Property Consists Of Three Duplexes On Large 0.34 Acre Lot (One Parcel) With Favorable R-TH Zoning For Potential Future Redevelopment
  • Some Capital Improvements Include Brand New Septic Tank & Drain Field And Updated PVC Plumbing - Passed All Recertification Inspections
  • All 1 Bed 1 Bath + Den Units Featuring Central Air-Conditioning Throughout And Individual Tankless Water Heaters
  • Opportunity To Increase Rents By Almost 27% - Long-Term Tenants With Strong Historical Occupancy And Low Turnover
  • Prime Palmetto Bay Location Within Walking Distance To Restaurants, Retailers, Hospitals/Healthcare Centers, Public Transit Stations (Bus), Schools

OVERVIEW

This exceptionally rare offering presents the opportunity to acquire a well-maintained, value-add 6-unit multifamily community in the Village of Palmetto Bay. The property consists of three duplexes situated on a spacious ±0.34-acre lot and was originally constructed in 1963. The asset is currently 100% occupied with long-term tenants, demonstrating strong historical performance and minimal turnover—an attractive foundation for stable in-place cash flow with future upside. Recent enhancements include a brand-new septic tank and drain field, along with updated PVC plumbing. Most units feature fully remodeled interiors with stainless steel appliances, plank flooring, fresh paint, updated tile, new cabinetry, and granite countertops. All units are equipped with central air conditioning and individual tankless water heaters, offering tenants modern comfort while supporting efficient operations for ownership. What truly differentiates this asset is its location - Palmetto Bay offers extremely limited multifamily inventory, contributing to lower volatility in rental demand and increased resilience during economic downturns. The area is further supported by robust demographics, including high household incomes, top-tier schools, and elevated single-family home values. The property’s prime setting east of US-1 provides residents with walkable access to daily amenities and convenient connectivity throughout Miami-Dade County, making this an appealing opportunity for multifamily investors.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$452 USD /SF

# OF UNITS

6

PRICE/UNIT

$266,667

CAP RATE

4.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Palmetto Bay Flats

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

305100

APN/PARCEL ID

33-5021-002-0200

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