Basic Information

  • MLS # A11442506
  • Type Commercial
  • Style MultiFamily
  • Status Active
  • Subdivision/Complex
  • Year Built 1954
  • Total Sqft 6,250
  • Date Listed 08/25/2023
  • Days on Market 268
Description

Presenting a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed report attached Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates allowing room for increased capitalization, these apartments are strong income generators. Refer to the attached rent roll excluding one recently leased at 1350 Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof 2022, meters and electrical serv 2023 add to value.

Exterior Features

  • Waterfront No
  • Pool No
  • Construction Type Block
  • Parking Spaces 0
  • Parking Description

Interior Features

  • Adjusted Sqft 6,250
  • Floor Description Tile
  • Heating Description WindowUnit,WallFurnace
  • Sqft 6,250

Property Features

  • Address 225 NW 16th St
  • Aprox. Lot Size 6,250
  • City Miami
  • Construction Materials Block
  • County Miami-Dade County
  • Furnished Info No
  • Listing Terms Assumable,Cash,OwnerMayCarry,Other
  • Occupant Type Tenant
  • Possession ClosingFunding
  • Postal City Miami
  • Public Survey Township 1
  • Sewer Description PublicSewer
  • Short Sale Regular Sale
  • HOA Fees N/A
  • Subdivision Complex
  • Subdivision Info
  • Tax Amount $5,578
  • Tax Information ERICKSONS SUB PB B-88 LOT 11 BLK 12 LOT SIZE 50.000 X 105 OR 22659-3138 072004 6 COC 26147-3149 12 2007 1
  • Tax Year 2022
  • Terms Considered Assumable,Cash,OwnerMayCarry,Other
  • Type of Property MultiFamily
  • Water Source Public

225 NW 16th St

Miami, FL 33136

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The multiple listing information is provided by the Miami Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2023-present Miami Association of Realtors®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: New World Realty Group Inc. tel: 305-444-9300

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