NOT LISTED FOR SALE
-- Bed
-- Bath
36,650 Sq Ft
0.84 Acre Lot

Sale Details

Date Sold: February 27, 2015

Last sale price $3,315,000 $90 Per Sq Ft

61 Days on Market

Highlights

  • 36,650 Sq Ft lot
  • Cooling Available
  • Tile Flooring
  • No HOA
  • Lobby
  • Reverse Cycle Heating System

About This Home

As of February 2015

Situated in the "Snug Harbor" residential area at the gateway to waterfront homes, this property is poised to achieve strong income consistently. Please notice 88% of the building is 2 bedroom units! In 2006 a major renovation was completed including ne w roof, new central A/Cs, new kitchens, new flooring, & more. Tenants go a mile & a half to the beach. Rents offer good upside. Figures show projected income with current expenses. This is a CONFIDENTIAL SALE requiring appts for all on-site visits.

Last Agent to Sell the Property

Ross Z. Herman

The Keyes Company License #372598 Listed on: 11/28/2014

The Keyes Company

Last Buyer's Agent

Ross Z. Herman

The Keyes Company License #372598 Listed on: 11/28/2014

The Keyes Company

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $53,365

Year Built

  • Built in 1970

Lot Details

  • 0.84

Home Design

  • Concrete Block And Stucco Construction

Interior Spaces

  • 36,650 Sq Ft Home
  • 3-Story Property
  • Tile Flooring
  • Fire and Smoke Detector

Parking

  • 37 Parking Spaces
  • Common or Shared Parking

Utilities

  • Cooling Available
  • Reverse Cycle Heating System

Additional Features

  • Accessible Elevator Installed
  • 36,650 Sq Ft Lot
  • City Lot

Listing and Financial Details

  • Total Actual Rent $436,536
  • Tenant pays for electricity, telephone
  • Assessor Parcel Number 494201030600

Community Details

Overview

  • No Home Owners Association
  • 36 Units
  • Adonai Garden Condos

Amenities

  • Lobby

Building Details

  • Insurance Expense $19,800
  • Maintenance Expense $12,000
  • Other Expense $354,976
  • Trash Expense $4,644
  • New Taxes Expense $51,230
  • Operating Expense $145,466
  • Gross Income $436,536
  • Net Operating Income $291,070

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$53,365

Year Built

Built in 1970

Lot Details

0.84 Acres

Listing Details

  • Property Type: Commercial Sale
  • Year Built: 1970
  • Ownership: Other Ownership
  • Property Sub Type: Multi Family
  • Directions: FEDERAL HWY TO ATLANTIC BLVD, WEST 1/2 MILE TO SE 11 AVE, GO LEFT (SOUTH) 3 BLOCKS & PROPERTY IS ON LEFT AT CORNER OF SE 3 ST.
  • Horses: No
  • Inclusions: Land Only, Business; Building And Land
  • New Construction: No
  • Road Frontage Type: City Street, City
  • Building Stories: 3
  • Structure Type: Multi Family
  • Year Built Details: Resale
  • LastStatus: Pending
  • CurrentPrice: 3315000
  • Special Features: None
  • Stories: 3

Interior Features

  • Interior Amenities: Elevator
  • Flooring: Tile
  • Number Of Buildings: 1
  • Stories: 3

Exterior Features

  • Roof: Other Roof/Roof Structure, Other
  • Construction Type: CBS Construction
  • Disclosures: Disclosure
  • Lot Features: City Location
  • Pool Private: No
  • View: No
  • Waterfront: No

Garage/Parking

  • Park Building Name: Adonai Garden
  • Parking Features: Common
  • Total Parking Spaces: 37

Utilities

  • Sewer: Public Sewer, Public Sanitation, Sewer
  • Water Source: Public
  • Trash Expense: 4644
  • Green Building Features: Inside Corridors, Lobby
  • Cooling: Central Individual A/C, Reverse Cycle
  • Cooling Y N: Yes
  • Electric: Separate Meters
  • Electricity On Property: Yes
  • Heating: Reverse Cycle Unit, Reverse Cycle
  • Heating Yn: Yes
  • Security: Smoke Alarm, Smoke Detector(s), Smoke Detector

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel Number: 494201030600
  • Current Use: Income Non-Waterfront
  • Lot Size Sq Ft: 36650
  • Zoning: RM-20

Rental Info

  • Tenant Pays: Electricity, Telephone

Multi Family

  • Net Operating Income: 291070
  • Insurance Expense: 19800
  • Annual Gross Income: 436536
  • Maintenance Expense: 12000
  • Number Of Units In Community: 36
  • Number Of Units Total: 36
  • Annual Operating Expense: 145466
  • Total Actual Rent: 436536

Tax Info

  • Tax Year: 2014
  • New Taxes Expense: 51230
  • Tax Annual Amount: 53365

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 21, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,500,000
Interest Rate
0.0388%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 31, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,500,000
Interest Rate
0.0388%
Mortgage Type
Commercial

Purchase Details

Listed on
Nov 28, 2014
Closed on
Feb 27, 2015
Sold by
Bought by
Seller's Agent
Ross Z. Herman
The Keyes Company
Buyer's Agent
Ross Z. Herman
The Keyes Company
List Price
$3,795,000
Sold Price
$3,315,000
Premium/Discount to List
-$480,000
-12.65%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,345,000
Interest Rate
0.0375%
Mortgage Type
Construction

Purchase Details

Closed on
Feb 11, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,600,000
Interest Rate
0.0572%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 30, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,440,000
Interest Rate
0.0716%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 12, 2000
Sold by
Bought by

Purchase Details

Closed on
May 31, 1995
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$5,000,000 Attorney
-- Attorney
$3,315,000 Attorney
$3,425,000 --
-- --
$1,800,000 --
$865,000 --
$1,285,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $3,500,000
Previous Owner $2,345,000
Previous Owner $2,431,528
Previous Owner $300,000
Previous Owner $2,600,000
Previous Owner --
Previous Owner $254,774
Previous Owner $200,000
Previous Owner $1,440,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
02/27/2015 02/27/15 Sold $3,315,000 -12.6% $90 / Sq Ft
01/28/2015 01/28/15 Pending -- -- --
11/28/2014 11/28/14 For Sale $3,795,000 -- $104 / Sq Ft
Source: MIAMI REALTORS® MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2026 $136,948 $6,405,330 $218,790 $6,186,540
2025 -- $5,387,600 $218,790 $5,168,810
2024 $118,595 $5,387,600 $218,790 $5,168,810
2023 $118,595 $5,113,630 $0 $0
2022 $104,726 $4,648,760 $0 $0
2021 $95,225 $4,226,150 $218,790 $4,007,360
2020 $91,840 $4,131,090 $218,790 $3,912,300
2019 $92,490 $4,131,090 $218,790 $3,912,300
2018 $90,841 $4,131,090 $218,790 $3,912,300
2017 $72,879 $3,297,340 $0 $0
2016 $65,326 $2,997,590 $0 $0
2015 $56,249 $2,462,030 $0 $0
2014 $53,365 $2,283,060 $0 $0
2013 -- $2,257,270 $218,790 $2,038,480
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MIAMI REALTORS® MLS

MLS Number: F1319398

MIAMI REALTORS® MLS

APN: 49-42-01-03-0600

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