20
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$2,100,000
Est. payment /mo
5,973 SqFt
Price Dropped by $55K
60 NW 161st St Miami, FL 33169
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,973 sqft
Price per Sqft $351
MLS Listing ID A11924971
HOA Y/N No
Year Built 1968
Annual Tax Amount $23,162
Lot Size 0.427 Acres
Property Sub-Type Multi Family
Property Description
PRESENTING BISCAYNE GARDENS VILLAS, AN 8-UNIT DUPLEX-STYLE MULTIFAMILY COMPOUND OFFERING A STABILIZED, LOW-MAINTENANCE INVESTMENT SUPPORTED BY STRONG IN-PLACE INCOME AND DURABLE BUILDING CONDITION.
Sporting a balanced unit mix of six 1 BR / 1 Bath units and two 2 BR / 1 Bath units, half of the units feature full interior renovations and the rest are primed for optional light-value-add upgrades, providing both immediate stability and clear operational upside.
Full property renovation and long-term durability includes pristine grounds, impact glass, central A/C, tiled floors, new roof as of 2017, and completed 40-year recertification, while 50% highly subsidized tenancy delivers reliable cash flow. Positioned within a quiet residential pocket experiencing new construction activity within a block, the property benefits from steady demand and its proximity to the major North Miami Beach NE 167th/NE 163rd ST commercial corridor and the Golden Glades Interchange for unmatched connectivity to the entire region.
Asking price reflects $262,500/door and a pro-forma cap of 7.82% with a pro-forma operating income of $164,160.
Sporting a balanced unit mix of six 1 BR / 1 Bath units and two 2 BR / 1 Bath units, half of the units feature full interior renovations and the rest are primed for optional light-value-add upgrades, providing both immediate stability and clear operational upside.
Full property renovation and long-term durability includes pristine grounds, impact glass, central A/C, tiled floors, new roof as of 2017, and completed 40-year recertification, while 50% highly subsidized tenancy delivers reliable cash flow. Positioned within a quiet residential pocket experiencing new construction activity within a block, the property benefits from steady demand and its proximity to the major North Miami Beach NE 167th/NE 163rd ST commercial corridor and the Golden Glades Interchange for unmatched connectivity to the entire region.
Asking price reflects $262,500/door and a pro-forma cap of 7.82% with a pro-forma operating income of $164,160.
Location
State FL
County Miami-dade
Area 30
Exterior
Private Pool Yes
Others
Tax ID 30-21-13-002-0410
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11924971
Listed by The Alpha Commercial Advisors LLC
NEARBY SCHOOL & BUSINESS
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