TURNKEY OPPORTUNITY, SHORE CREST APARTMENTS
Shore Crest is a 8-unit, multifamily community located in Miami, FL, which is in Miami-Dade County.
The subject property is a one-story building built in 1960 using reinforced concrete block construction with painted stucco exterior.
The property is located at 1051 NE 80th St, north of NE 76th St, and between Biscayne Blvd and Abbott Ave, main traffic arteries traveling north-south through Miami-Dade County.
The property is just a few minutes drive down NE 76th from access to the world famous Miami beaches.
The immediate neighborhood consists of primarily multi-family buildings of similar age and construction as the subject property.
The investment opportunity consists of a highly attractive unit mix of (8) one-bedroom & one-bathroom apartments, totaling approximately 4,760 RSF.
All units are recently completely renovated.
Shore Crest offers an investor the opportunity to purchase a stabilized, irreplaceable investment property in one of the strongest rental markets in Miami-Dade County, where vacancies are virtually non-existent.
This investment provides great cash flow day one of acquisition and the opportunity to increase rents by 20%+.
- Turnkey opportunity to raise rents as much as 20%+
- Proforma Gross Potential Rent: $158,400
- Easy access to Aventura, Bal Harbour, Miami Beach, Wynwood, Bayside, and Miami International Airport
- Updated units. New hurricane impact windows, plumbing & Electrical panels
- Historically 100% occupied
- Minimal Operating Expenses and Landlord Responsibilities
- Country: United States
- Province / State: Florida
- City / Town: Miami
- Property ID 3537
- Price $1,792,000
- Property Type Multifamily
- Property status For sale
- Year Built 1952
- Size 4,763 SqFt
- Units 8
- Cap Rate 5.30%
- Lot Area 0.29(acres)
- Price Per Sqft $376.23
- Investment Type Value Add
- Class C
- Occupancy 100%
- NOI $94,950
- Buildings 1
- Stories 1
- Price/Unit $224,000