NOT LISTED FOR SALE

South Miami, FL 33143

17 Beds
12 Baths
7,085 Sq Ft
1950 Built

Last Sold October 11, 2022

Last sale price $2,995,000 $423 Per Sq Ft

40 Days on Market

Highlights

  • Wood Flooring
  • No HOA
  • Heating Available
  • Ludlam Elementary School Rated 9+
  • Cooling Available
  • 3-minute walk to Marshall Williamson Park

About This Home

As of October 2022

Investor dream! Fully remodeled 15-unit multi-family apartment building located in South Miami!
Recent roof, 15 units 100% remodeled including plumbing, electrical panels/kitchens/appliances/AC, all impact windows and doors, electrical meter room 100% redone including all new wiring, coins Laundry with new washer and dryer, and much more, 40 certification granted in 2022!
Two 2 bed/1bath units, One 2/2 unit, two 1bed/1bath units and 10 studio units. all units occupied!
Individually metered and Income producing, current gross yearly rent rolls $242.000k$ actual cap rate 5.07%, net income $151,896 !
Pro forma rent rolls $289,000, pro format cap rate 6.07% pro format NOI $181,764!
No financing contingency.
Offering Memorandum on request.

Last Agent to Sell the Property

Eric Amsallem

Beachfront Realty Inc License #3185189 Listed on: 08/31/2022

Beachfront Realty Inc

Last Buyer's Agent

Eric Amsallem

Beachfront Realty Inc License #3185189 Listed on: 08/31/2022

Beachfront Realty Inc

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $31,686

Year Built

  • Built in 1950

Home Design

  • Quadruplex
  • Concrete Block And Stucco Construction

Interior Spaces

  • 7,085 Sq Ft Home
  • 2-Story Property
  • Wood Flooring

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Total Actual Rent $242,000
  • Assessor Parcel Number 09-40-25-028-0220

Community Details

Overview

  • No Home Owners Association
  • 15 Units
  • Townsite Of Larkins Condos
  • Townsite Of Larkins Subdivision

Building Details

  • Operating Expense $90,126
  • Net Operating Income $151,986

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$31,686

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1950
  • Property Sub Type: Quadruplex
  • Architectural Style: Other
  • Horses: No
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Quadruplex, Fourplex
  • Subdivision Name: TOWNSITE OF LARKINS
  • Year Built Details: Resale
  • MIAMIRE_PoolYN: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: VirtualTour
  • Stories: 2

Interior Features

  • Flooring: Wood
  • Living Area: 7085
  • Possible Use: Investment
  • Stories: 2

Exterior Features

  • Roof: Other
  • Construction Type: CBS Construction
  • Lot Features: Less Than 1/4 Acre Lot
  • Pool Private: No
  • View: No
  • Waterfront: No

Garage/Parking

  • Park Building Name: TOWNSITE OF LARKINS

Utilities

  • Sewer: Other
  • Cooling: Other
  • Cooling Y N: Yes
  • Heating: Other
  • Heating Yn: Yes

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • MIAMIRE_TypeofAssociation: None

Lot Info

  • Parcel Number: 09-40-25-028-0220
  • Zoning: 0100
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Rent Includes: None

Multi Family

  • Net Operating Income: 151986
  • Number Of Units Total: 15
  • Annual Operating Expense: 90126
  • Total Actual Rent: 242000

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 31686

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/11/2022 10/11/22 Sold $2,995,000 0.0% $423 / Sq Ft
08/31/2022 08/31/22 For Sale $2,995,000 0.0% $423 / Sq Ft
05/09/2018 05/09/18 Rented $850 0.0% --
05/04/2018 05/04/18 For Rent $850 -15.0% --
03/15/2018 03/15/18 Rented $1,000 0.0% --
02/23/2018 02/23/18 Price Changed $1,000 0.0% $1 / Sq Ft
02/23/2018 02/23/18 For Rent $1,000 +17.6% --
01/19/2018 01/19/18 Off Market $850 -- --
12/15/2017 12/15/17 For Rent $850 -5.6% --
07/01/2016 07/01/16 Rented $900 +5.9% --
06/29/2016 06/29/16 For Rent $850 -- --
Source: MIAMI REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • E

    Seller's Agent in 2022

    Eric Amsallem

    Beachfront Realty Inc

    (786) 985-1374

    1 in this area

    52 Total Sales

    Section Image

  • R

    Seller's Agent in 2018

    Rafael Diaz

    Florida Realty of Miami

    Section Image
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Source: MIAMI REALTORS® MLS

MLS Number: A11266264

MIAMI REALTORS® MLS

Florida Miami/Dade County South Miami

33143

This home since 31 August 2022. This property was built in 1950. This home is a home located in Miami-Dade County with nearby schools including Ludlam Elementary School, South Miami Middle School, and South Miami Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MIAMI REALTORS® MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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