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$ 3,700,000
Est. payment | /mo
8,324 SqFt
$ 3,700,000
Est. payment | /mo
8,324 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,324 sqft
Price per Sqft $444
MLS Listing ID A11933823
HOA Y/N No
Year Built 1959
Annual Tax Amount $60,446
Lot Size 0.400 Acres
Property Sub-Type Multi Family
Property Description
Presenting Royal Oak Apartments, an expertly stabilized and freshly renovated 19-unit multifamily investment in the supply-constrained North Miami sub-market.
Offering diversified unit typologies, reliable in-place income with majority market-rate tenancies, recent comprehensive renovations, and long-term durability with completed 40-Year Recertification, this asset delivers turnkey performance with curb appeal that lasts.
The property has undergone a capital improvement overhaul, with extensive property-wide interior & exterior upgrades designed to support stable operations and long-term performance. Impact glass throughout and private terraces in select units enhance the property's modern aesthetic, attracting tenants and supporting consistently high occupancy levels. This is a rare opportunity to acquire for $199K/door a full renovated and stabilized asset.
Locationally supreme, North Miami is a submarket benefiting from strong renter demand, limited new multifamily supply, and equidistant proximity to major employment corridors and regional connectors as Biscayne Boulevard, NE 125 ST, NE 163 ST, and I-95.
Price Per Door: $194,737
In-Place CAP: 6.2%
Pro-Forma CAP: 6.9%
Current Occupancy: 95%
Offering diversified unit typologies, reliable in-place income with majority market-rate tenancies, recent comprehensive renovations, and long-term durability with completed 40-Year Recertification, this asset delivers turnkey performance with curb appeal that lasts.
The property has undergone a capital improvement overhaul, with extensive property-wide interior & exterior upgrades designed to support stable operations and long-term performance. Impact glass throughout and private terraces in select units enhance the property's modern aesthetic, attracting tenants and supporting consistently high occupancy levels. This is a rare opportunity to acquire for $199K/door a full renovated and stabilized asset.
Locationally supreme, North Miami is a submarket benefiting from strong renter demand, limited new multifamily supply, and equidistant proximity to major employment corridors and regional connectors as Biscayne Boulevard, NE 125 ST, NE 163 ST, and I-95.
Price Per Door: $194,737
In-Place CAP: 6.2%
Pro-Forma CAP: 6.9%
Current Occupancy: 95%
Location
State FL
County Miami-dade
Area 22
Exterior
Private Pool Yes
Others
Tax ID 06-22-19-011-0070
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11933823
Listed by The Alpha Commercial Advisors LLC
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