570 NE 145th St - Apartments FOR SALE


North Miami, FL 33161
$1,300,000 USD
954-256-5410
570 NE 145th St, North Miami, FL for Sale
$1,300,000 USD
Apartments - FOR SALE
1/11
null | 6.38% Cap Rate

570 NE 145th St
North Miami, FL 33161


HIGHLIGHTS

  • Superior Location & Amenities
  • Value Add Potential
  • Major Employment Area
  • Strong Rental Market
  • Exceptional Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of Oak Ranch Manor, a multi-family investment property located at 570 NE 145th Street in North Miami, Florida (“The Property”). Oak Ranch Manor was built in 1959 of reinforced concrete block and contain seven (7) residential units with 3,780 square feet of living area on 0.22 acres of land. The Property offers a unit mix of seven (7), 1-Bedroom/1-Bathroom apartments with fully equipped kitchens, wall & window air conditioning units, tiled or vinyl plank flooring (in select units). On-site amenities include an unused laundry room with electrical and waterline hook-ups to install laundry for additional income, plus ample parking for residents & guests. The Property offers a stable investment that has been well-maintained and under the same ownership since 2002. Three units have been subject to renovations and include new kitchen cabinets, countertops, stainless steel appliances, new bathrooms that include pedestal vanities, low-flow toilets and fixtures, as well as modern vinyl plank flooring throughout. Additionally, the building has completed the required 40/10 Year Recertification program, which is good until 2029. Oak Ranch Manor is situated in an excellent location at the intersection of NE 145th Street with NE 6th Avenue (FL-915), the city’s primary north-south artery that goes straight through the heart of downtown North Miami. The Property is conveniently located near an appealing array of retailers, restaurants, bars, and service amenities, public transportation options, major roads and is in close proximity to major attractions and points of interest in the area including Downtown Miami, the Miami-Opa Locka Executive Airport, Miami International Airport, Championship Golf Courses, and the World-Famous Miami Beaches.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$344 USD /SF

# OF UNITS

7

PRICE/UNIT

$185,714

CAP RATE

6.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oak Ranch Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

3800

APN/PARCEL ID

06-2219-000-1520

ASK ABOUT THIS PROPERTY

Hernando PerezHorvath & TremblayMore Info
954-256-5410

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Hernando PerezHorvath & TremblayMore Info
954-256-5410

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.