60-74 NW 161st St - Apartments FOR SALE


Miami, FL 33169- Biscayne Gardens East
$2,150,000 USD
954-245-3526
60-74 NW 161st St, Miami, FL for Sale
$2,150,000 USD
Apartments - FOR SALE
1/9
null | 5.02% Cap Rate

60-74 NW 161st St
Miami, FL 33169
Biscayne Gardens East


HIGHLIGHTS

  • Rarely Available Biscayne Gardens Multifamily
  • Four Duplex Style Villas
  • 5 out of 8 Units are Renovated
  • Large Average Unit Size of 747 Square Feet
  • Close to Golden Glades Interchange

OVERVIEW

Marcus & Millichap, as exclusive listing agent is excited to bring to market Biscayne Gardens Villas an eight-unit apartment building located in Unincorporated Miami-Dade County, Florida which is in the northeast portion of the county commonly referred to as Biscayne Gardens. The property is comprised of four one-story duplexes. The building was constructed in 1968 of concrete block with painted stucco and sits on a .43-acre site. There is a very desirable unit mix of six one-bedrooms, and two two-bedroom and one-bathroom units. Each unit has central heating and air-conditioning, and walk-in closets. Property amenities include an on-site laundry facility, and off-street parking. Five of the eight units have been fully renovated with newer kitchens and bathrooms. Water, sewer, and trash removal are included in the rent, while residents pay for electricity. Biscayne Gardens Villas is situated between North Miami and North Miami Beach in Biscayne Gardens. North Miami is home to several universities including Florida International University’s Biscayne Bay campus and Barry University which is several miles southwest of the subject. Jackson North Medical Center is also located about one mile north of the subject property which is a 382-bed full-service hospital. Memorial Highway Apartments fronts on Memorial Highway and sits about a mile south of North Miami Beach Boulevard (NE 167th Street) in the Biscayne Gardens neighborhood. Memorial Highway is a two-lane road that starts in North Miami near NE 125th Street and runs north. It becomes NW 2nd Avenue and runs onto Interstate 95 just north of North Miami Beach Boulevard. North Miami Beach Boulevard is a major east/west thoroughfare from Interstate-95 to Sunny Isles Beach lined with commercial uses including retail, office, and hospitality. The property sits just southeast of the Golden Glades Interchange which provides access to anywhere in South Florida. The neighborhood is made up of single-family homes on large lots with some multifamily buildings.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$360 USD /SF

# OF UNITS

8

PRICE/UNIT

$268,750

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Biscayne Gardens Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,517 SF

ZONING

RU-3B

APN/PARCEL ID

30-2113-002-0410

ASK ABOUT THIS PROPERTY

Nicholas McAndrewMarcus & MillichapMore Info
954-245-3526

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Nicholas McAndrewMarcus & MillichapMore Info
954-245-3526

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