1761 Ali Baba AveOpa-locka, FL 33054

Property Details for 1761 Ali Baba Ave

Year built

1959

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a six-unit apartment building located at 1761 Ali Baba Ave, Opa-locka, Florida, 33054, in Miami-Dade County. Built in 1959, this two-story building offers a compelling return on investment. The property boasts 100% occupancy with annual leases in place, generating an estimated gross annualized rent (GAR) of $130,500. This translates to an approximate 8.33% capitalization rate (CAP rate), making it an attractive proposition for income-seeking investors. Each of the six units features two bedrooms and one bathroom, providing comfortable living spaces for tenants. Individual water and electricity meters are installed in each unit, simplifying utility management and billing. Furthermore, the building underwent a significant improvement with a complete roof replacement in late 2021, ensuring long-term structural integrity and minimizing future maintenance costs. The property is priced at $1,300,000 and presents a rare chance to acquire a stable, income-producing multifamily asset in a desirable location. This is a turnkey investment ready for immediate cash flow. The property's strong performance and recent upgrades make it an ideal addition to any investment portfolio.

Location Insight

City

Opa-locka

County

Miami-Dade

State

Florida

Latitude

25.9119

Longitude

-80.2306

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