1316 105Th StMiami Shores, FL 33138

Property Details for 1316 105Th St

Property size (Sq ft)

9,740 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 8-unit apartment building in Miami Shores, Florida, presents a compelling investment opportunity. Boasting 9,740 square feet on a 13,750 square foot lot (APN: 11-2232-027-0150), this two-story Class B property offers a current NOI of $162,086 and a pro-forma NOI of $209,709, translating to a 5.15% cap rate and a pro-forma cap rate of 6.66%. The asking price is $3,150,000, resulting in a price per square foot of $323.41. Each of the eight units features modern amenities including stainless steel appliances, granite countertops, full kitchens, and a mix of travertine and hardwood flooring. The property benefits from ample parking and a recently redesigned landscape for low maintenance. Safety features include hurricane shutters and impact-resistant doors. Situated in a desirable A-1 zoned location just off Biscayne Boulevard, this renovated building underwent its 60-year recertification in 2023, ensuring long-term compliance. This waterfront property offers consistent rental income and significant potential for future growth in a prestigious Miami Shores neighborhood. The property's prime location and updated features make it an attractive investment for discerning buyers seeking a stable and high-return asset.

Location Insight

City

Miami Shores

County

Miami-Dade

State

Florida

Latitude

25.8718

Longitude

-80.1706

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