Home » North Miami » 14280 NE 6th Ave, North Miami, FL 33161 | A11625158

Multi Family For Sale 14280 NE 6th Ave, North Miami, FL 33161

$3,950,000
Price has decreased by $45,000

Property Highlights

Listing ID A11625158 Status of this Listing: Active For Sale Property Type Commercial Sale Multi Family Building Area 10,811 Sqft/1004.37 m2 approx. Lot area 17,416 Sqft/1618.00 m2 approx. Year Built 1959 Time of this property on Rebonus 194 Day(s)

14280 NE 6th Ave, North Miami, FL 33161

Property Description: Welcome to Royal Oaks Apartments, a turnkey 19-unit multifamily gem in North Miami. This fully renovated property includes 16 one-bed/one-bath units and 3 spacious studios, all featuring mini split ACs, new flooring, modern kitchens, impact windows/doors, stylish bathrooms, recessed lighting, and private balconies in most units. The property offers onsite parking, individual electric meters, an onsite laundry facility, secured entrances, and surveillance. The 40-year certification is completed, and the roof has been resealed, ensuring minimal CapEx. Fully occupied, it generates nearly $380,000 annually, providing a 7% Cap rate return with potential for increased returns by adjusting rents to market rates. Situated on a 0.40-acre lot, it allows for up to 40 units to be built if redeveloped.

Useful Info

Contingency:Other
Previous Asking Price:$3,800,000
Original List Price:$3,995,000

Lease Details

Lease Terms Description:1 To 3 Year Lease

Business Info

Financial Data Source:
  • Owner

Land Lot (Parcel) Details

Lot Size Unit:Square Feet

Construction

Year Built Details:
  • Resale
Number of Buildings:1
Levels:Two
Construction Materials:
  • Block
Flooring:
  • Tile
  • Vinyl
  • Terrazzo
Structure Type:
  • Apartment
Stories:2

Property Features

Waterfront:No
Security:
  • Smoke Detector(s)
  • Security Gate
Roof:
  • Built-up
Window Features:
  • Impact Glass
Air Conditioning System:
  • Other
Heating System:
  • Other

Taxes and Expenses

Tax Annual Amount:$66,985

Property Tax Notice for Buyers: Do not rely on the current property taxes paid by the seller, as your tax liabilities may increase following the sale. Transferring ownership or making improvements to the property often triggers tax reassessments, which could raise the amount you owe. If you have questions regarding property valuation, please contact the County Property Appraiser’s Office.

Terms

Documents Available:
  • Aerial
  • Ground Photo
  • Financials
  • Rent Rolls
Listing Terms Considered by Seller:
  • Cash
  • Conventional
  • Other
Occupant Type:
  • Tenant
Buyer Possession:
  • Closing & Funding
Lease Term:
  • 36 Months
Lease Considered:No

Community

Senior Community:No

Parking

Covered Spaces:0

Utilities

Sewer:
  • Public Sewer
Water Source:
  • Public

More Details

Other Information:
FEMA Flood Zone DesignationsX
Ref1077562191
Subdivision Number11

Zoning and Legal

Tax Legal Description:19 52 42 RUCKS PARK PB 44-97 LOT 7 & LOT 8 LESS S21FT BLK 1 LOT SIZE 17416 SQUARE FEET OR 20761-1057/21649-376 1002 6 COC 22011-2089 01 2004
Real Estate Folio Number (Parcel Number):06-22-19-011-0070
Zoning Description:3800
Public Survey Range:22
Public Survey Section:19

Listing History

Update/EventDate/Days
Published Date:July 17, 2024 1:35 am
On Market Date:July 17, 2024
Price Change Date Time:January 27, 2025 5:01 pm
Last Important Update Description:Price Change
Date and Time of Last Important Update:January 27, 2025 5:01 pm
Status Last Changed:January 24, 2025 4:48 pm
Photos Last Modified:July 17, 2024 5:50 am
Last Modified:January 27, 2025 10:02 pm
Days on the Market Reference Date:January 27, 2025
Days on the Market (updated on Last Modified*):134
Cumulative Days on the Market (updated on Last Modified**):134

Additional Information

Number of Photos:51
Location:,,
Included:,,
Area:22
Automated Valuation Display:Yes
Courtesy of:Fausto Commercial Realty Consultants Inc
Universal Property Id:US-12025-N-0622190110070-R-N

Location

Show Property Address:Yes
Street Name:6th Ave
Street Number:14280
Street Direction Prefix:NE
Street Address:14280 NE 6th Ave
City : North Miami
State : Florida
Zip Code : 33161
County : Miami-Dade
Full Address:14280 NE 6th Ave, North Miami, FL 33161
Latitude:N25° 54' 23.2''
Longitude:W81° 48' 44.9''

Neighborhood

Postal City:North Miami

Property Map