Description for 225 16th St, Miami, FL 33136
Presenting a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.
Property Details
Price History
Source: MLS
| Date | Event | Price | Source |
|---|---|---|---|
| 2024-04-05 19:47:46 | For Sale | $1,575,000 | MLS |
| 2023-08-25 | For Sale | $1,600,000 | MLS |
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