15421 Southwest 39th Terrace, Miami, FL 33185, USA
$380,000 closed 6/15/2019
Grand spacious first floor apartment has size and elegance worthy of an owner-occupant with its high ceilings, sculpted plaster molding, walk-in closets, and private side entrance. The two-story 720 sq.ft. carriage house in the rear is ripe for renovation/redevelopment to further add value to this fabulous property. The second floor offers two apartments with vintage features including large marble slabs for wall surfaces in the kitchen and bathroom, wall hung porcelain sink, and a claw foot tub. The third floor features a huge, bright two-bedroom apartment with hardwood floors.
Property is fully leased with long-term stable tenants.
The basement has a utility room and a number of storage lockers.
Each tenant pays their own electric. The landlord provides hot water and heat, via the modern Buderus oil-fired hot water radiator heating system.
This property has over 4,400 sq.ft. of improved living space in addition to the 720 sq.ft. rear carriage house.
$98,750 per unit
$89 per sq. ft.
8.3 Times Gross Rent
8% Cap Rate
10.5% Positive Cash-on-Cash Return on Investment