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Posted: Thursday, March 2, 2017 1:56 PM

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Two parcels in one package! One parcel contains four buildings with 15. Building across the street, which currently operates as 5 units, has recently been permitted for 3 units. The owner is adding an additional electric meter to be completed by July. Once completed, there will be one 1 bedroom and two 2 bedroom units.
Both properties are 100% occupied with upside potential. Terrific cap rate of 7.5%. It can easily be increased to 8.2% cap rate with modest rent increases. All units are secured with 1 month security deposit and are mostly on 1 year leases. There are two longer term tenants on month to month. Owner says that laundry could be raised 20% to $1.50/cycle. For additional information, contact Mark Modzelewski at 954-471-0096.

• Location: Broward County, Miami

• Post ID: 47345119 miami
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