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$ 2,700,000
Est. payment | /mo
6,594 SqFt
$ 2,700,000
Est. payment | /mo
6,594 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,594 sqft
Price per Sqft $409
MLS Listing ID A11805333
HOA Y/N No
Year Built 1965
Lot Size 0.272 Acres
Property Sub-Type Multi Family
Property Description
PRESENTING BEL-AIR APARTMENTS: A PRISTINE, FULLY-RENOVATED AND STABILIZED 14-UNIT MULTIFAMILY ASSET LOCATED IN OPA-LOCKA, FL.
With a balanced mix of efficiently-sized 1BR and 2BR units, substantial capital improvements, and optimized in-place income from both market-rate and Section 8 tenants, this property offers a secure and durable investment perfect for cash-flow motivated buyers.
Step into this high-occupancy operation with minimal acquisition friction from completed 40-year bldg. recertification, well-maintained grounds, and proven management model ripe for continued appreciation as the area remains a critical employment and transportation hub for the entire region.
INVESTMENT HIGHLIGHTS
Ideal unit mix with (6) 2BR-1BA units and (8) 1BR-1BA units
Varied income profile with majority Section 8 annual tenancies
flexible market-rate tenancies (highly subsidized) in addition to flexible market-rate tenancies.
Fully-renovated grounds feature impact glass, gated courtyard entry, security cameras, ample on-site parking, and clean modern facade
40-Year Recertification Completed
All units individually metered for electric
Steady 92–100% occupancy from professional property management
Additional upside available by adding laundry income + upgrading finishes in remaining units
-Price Per Door: $192,857
-In-Place CAP: 7.17%
-Pro-Forma CAP: 8.3%
-Current Occupancy: 93%
NEW lease was signed for Section 8 tenant at $2,262/month, highest rent for the building.
With a balanced mix of efficiently-sized 1BR and 2BR units, substantial capital improvements, and optimized in-place income from both market-rate and Section 8 tenants, this property offers a secure and durable investment perfect for cash-flow motivated buyers.
Step into this high-occupancy operation with minimal acquisition friction from completed 40-year bldg. recertification, well-maintained grounds, and proven management model ripe for continued appreciation as the area remains a critical employment and transportation hub for the entire region.
INVESTMENT HIGHLIGHTS
Ideal unit mix with (6) 2BR-1BA units and (8) 1BR-1BA units
Varied income profile with majority Section 8 annual tenancies
flexible market-rate tenancies (highly subsidized) in addition to flexible market-rate tenancies.
Fully-renovated grounds feature impact glass, gated courtyard entry, security cameras, ample on-site parking, and clean modern facade
40-Year Recertification Completed
All units individually metered for electric
Steady 92–100% occupancy from professional property management
Additional upside available by adding laundry income + upgrading finishes in remaining units
-Price Per Door: $192,857
-In-Place CAP: 7.17%
-Pro-Forma CAP: 8.3%
-Current Occupancy: 93%
NEW lease was signed for Section 8 tenant at $2,262/month, highest rent for the building.
Location
State FL
County Miami-dade
Area 21
Exterior
Private Pool Yes
Others
Tax ID 08-21-21-002-2350
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11805333
Listed by The Alpha Commercial Advisors LLC
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