6805 88Th StPinecrest, FL 33156

Property Details for 6805 88Th St

Year built

1965

Property size (Sq ft)

15,906 SF

Property type

Apartment buildings

Description

This exceptional 19-unit apartment building presents a compelling value-add opportunity in the affluent Village of Pinecrest, Florida. Located at 6805 SW 88th St, this gated property boasts 15,906 square feet on a 37,478 square foot lot, with 12,980 square feet of net rentable space. The property features a diverse unit mix of one, two, and three-bedroom apartments, catering to a wide range of residents. Built in 1965, the two-story building currently operates at 80% occupancy, generating a pro-forma NOI of $309,000 and a pro-forma cap rate of 4.48%. The asking price is $6,900,000, translating to $433.80 per square foot and $363,158 per unit. The property includes 29 parking spaces and is zoned RU-5. Its prime location offers convenient access to major shopping centers and public transit, while being surrounded by high-end homes, creating a desirable living environment for residents. The property's existing amenities, combined with the potential for further value-add improvements, make this a strong investment opportunity in a highly sought-after market. The property's central air conditioning and spacious layouts offer comfortable living spaces. The gated community provides security and privacy, while ample green spaces and a pool enhance the resident experience. This is a rare opportunity to acquire a multifamily asset in Pinecrest, a market known for its strong rental demand and high property values.

Location Insight

City

Pinecrest

County

Miami-Dade

State

Florida

Latitude

25.689

Longitude

-80.3049

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].