12240 5th Ave ,Other, Quadruplex, Biscayne Park Estates for Sale

12240 5th Ave for Sale

Price $1,900,000.00

• Lot size 4479
• Year Build 1951
• Waterfront
• Zip 33161
• Style Other
• Parking Description
• Pool Yes
• Status Active With Contract

Description

Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 14 unit and add 6 units to the existing structure, plans available could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. Great opportunity SELLER FINANCE UP TO 30 %It is rented 25% below market value. Pro forma calculated by Miami Dade Housing 2024

For more info email nv@miamgmtgroup.com 305-322-8767 Do not disturb tenants Buyer must do their own due diligence to confirm with the city. "Exceptional rental returns ? we kindly request not to disrupt tenants for unit visits, except during designated due diligence periods."

BISCAYNE PARK ESTS BLKS 8 9 10 11 PB 5-107 LOT 24 BLK 8 LOT SIZE 15000 SQUARE FEET OR 18882-3051 11 1999 1 COC 24160-3301 09 2005 1

Less Than 1/4 Acre Lot

Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 14 unit and add 6 units to the existing structure, plans available could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. Great opportunity SELLER FINANCE UP TO 30 %It is rented 25% below market value. Pro forma calculated by Miami Dade Housing 2024

City:North Miami,Roof:1:Shingle,Model:8 Unit Rental Income,Zoning:3700,List A O R:A-Miami Association of REALTORS,Stories:1,Tax Year:2022,Flooring:1:Tile,Latitude:25.887893,Cooling Y N:1,Heating Y N:1,List Price:1900000,Listing Id:A11446202,Longitude:-80.188147,Mls Status:Active With Contract,Year Built:1951,Living Area:4479,Postal Code:33161,Street Name:5th Ave,Contingency:Other,Coordinates:1:25.887893,Photos Count:14,Builder Model:8 Unit Rental Income,Building Name:BISCAYNE PARK ESTATES,Days On Market:230,Listing Terms:1:Conventional,2:Exchange,Lot Size Units:Square Feet,M I A M I R E_ Area:22,M L S Area Major:Biscayne Park Estates,On Market Date:2023-09-01,Parcel Number:06-22-30-031-0250,Parking Total:12,Property Type:Residential Income,Stories Total:1,Street Number:12240,M I A M I R E_ Style:Fourplex,Public Remarks:Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 14 unit and add 6 units to the existing structure, plans available could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. Great opportunity SELLER FINANCE UP TO 30 %It is rented 25% below market value. Pro forma calculated by Miami Dade Housing 2024,Structure Type:1:Fourplex,County Or Parish:Miami-Dade County,List Office Name:Mia MGMT Group, LLC.,Standard Status:Active Under Contract,Window Features:1:High Impact Windows,Living Area Units:Square Feet,Major Change Type:Active Under Contract,Postal Code Plus4:5444,Property Sub Type:Quadruplex,State Or Province:FL,Street Dir Prefix:NE,Subdivision Name:BISCAYNE PARK ESTATES,8 Unit Rental Income,Tax Annual Amount:14702,Unparsed Address:12240 NE 5th Ave, North Miami FL 33161,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:4479,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:424.2018,Original List Price:2300000,Previous List Price:2050000,Public Survey Range:22,Documents Available:1:Copy Of Lease(S),2:Other Available Information,3:Rent Rolls,4:Existing Survey,I D X Participation Y N:1,Number Of Units Total:8,Syndication Remarks:Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 14 unit and add 6 units to the existing structure, plans available could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. Great opportunity SELLER FINANCE UP TO 30 %It is rented 25% below market value. Pro forma calculated by Miami Dade Housing 2024,Listing Contract Date:2023-09-01,Originating System I D:miamire,Public Survey Section:30,Showing Instructions:See Broker Remarks,Street Number Numeric:12240,Tax Legal Description:BISCAYNE PARK ESTS BLKS 8 9 10 11 PB 5-107 LOT 24 BLK 8 LOT SIZE 15000 SQUARE FEET OR 18882-3051 11 1999 1 COC 24160-3301 09 2005 1,Public Survey Township:22,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:3%,M I A M I R E_ Adjusted Area S F:2338,M I A M I R E_ Internet Remarks:no,Contract Status Change Date:2024-04-18,Internet Address Display Y N:1,Number Of Units In Community:4,Transaction Broker Compensation:3%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 3%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:424.2,