CBRE, as exclusive advisor, is pleased to present The Shenandoah (the “Property”)—a fully renovated, 24-unit residential community located in the highly desirable Shenandoah neighborhood of Miami, Florida. All 24 units are two bedroom/one bathrooms and were gut renovated in 2020 with over $2.4 million ($100,000 per unit) with high end finishes. Unit finishes include stainless steel appliances, granite countertops, Italian wood cabinetry, tile flooring throughout, hurricane impact windows, 9’ ceilings, digital thermostats, and more. In addition, renovation in 2020 also included all new electrical (panels, wiring, meters) and plumbing, new irrigation, new lines (100% PVC 6” to the street), new central A/C, 100% replacement of all interior sheetrock and framing, landscaping and sprinkler system. All the units are the same size and finishes but the rents vary from $1,900 to $2,300. Market rents should average $2,200 which is +/-$150 higher than the gross rents at the property. The current gross income at the property is $590,000. New construction two-bedroom units in the immediate rent up to $2,500 average rents in the submarket for 2BR units average $2,286. The community features an array of amenities including reserved off-street parking area, laundry facility, storage area, gated entrance and more.