6% CAP ~ ORANGE BLOSSOM PLACE~SELLER FINANCG 1000 7th St 10 Unit Apartment Building $6,570,722 CAD ($657,072 CAD/Unit) 6.28% Cap Rate Miami Beach, FL 33139
INVESTMENT HIGHLIGHTS
- ASSUMABLE SELLER FINANCING LOAN = $2,000,000 ONLY 6.5% INTEREST ONLY Term 3 Years. 1.5 Points at close.
- Located near Flamingo Park, S. Pointe Park, S. of Fifth, Lincoln Rd Mall and a variety of outdoor activities!
- Privately located in the exclusive NOFI (N. of Fifth) residential neighborhood so it's the quietest part of SOBE. Plenty of permit parking avaialble.
- 5 blocks to the beach. 2 mins to MacArthur Causeway for easy access to Downtown, Brickell, Wynwood and Design District!
- 40 year recertification just completed in 2023!! Hundreds of amazing restaurants nearby which have a sensational variety of cuisines!
EXECUTIVE SUMMARY
ASSUMABLE SELLER FINANCING LOAN = $2,000,000 = ONLY 6.5% INTEREST ONLY = Term 3 Years. 1.5 Points at close. 10 UNITS (7 2BR & 3 1BR)= RARE opportunity to own a Luxury Completely Renovated Turn-Key Investors Dream Income Producing Goldmine! Mid-Century Modern meets Art Deco Masterpiece in this completely restored down to the studs 10 units, 2-story building, a large (7500 SFT) lot, the most quiet, peaceful & safe street in all of S. Beach! Renovations include new AC, HWH, plumbing, electrical panels, roof, modern kitchens with quartz counters, SS appliances, breakfast bar. Cool, hip and chic decor throughout including hotel quality baths with celebrity lighting, engineered wood floors easy to clean and durable. Washer & dryer in all units. 4 PRIVATE PARKING SPOTS. BBQ patio to enjoy! 40-year done!
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$470,270
|
$73.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$470,270
|
$73.23
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$81,124
|
$12.63
|
| Net Operating Income |
$389,146
|
$60.60
|
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Tile Floors
- Crown Molding
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Stainless Steel Appliances
- Range
- Dining Room
- Double Pane Windows
- Family Room
- Mother-in-law Unit
- Patio
- Porch
SITE AMENITIES
- Fenced Lot
- Vintage Building
- Zen Garden
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | $4,357 CAD | 840 |
| 1+1 | 3 | $3,043 CAD | 720 - 775 |
1 of 1
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 02-4203-009-7640 | Improvements Assessment | $3,261,311 CAD (2024) |
| Land Assessment | $1,717,790 CAD (2024) | Total Assessment | $4,979,100 CAD (2024) |
