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Salem House 13155-13175 NE 6th Ave

32 Unit Apartment Building $9,836,200 CAD ($307,381 CAD/Unit) 7.55% Cap Rate North Miami, FL 33161

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EXECUTIVE SUMMARY

Fausto Commercial Realty, as the exclusive listing agent, proudly presents Salem House for sale. Located in the heart of North Miami, Salem House is a 32-unit apartment complex featuring a desirable unit mix: 15 one-bedroom/one-bathroom apartments, 15 two-bedroom/one-bathroom apartments, and 2 two-bedroom/two-bathroom apartments. Residents enjoy spacious living spaces, on-site laundry facilities and convenient parking. Salem House is ideally situated at 13155 NE 6th Avenue, nestled between Northeast 125th Street and Northeast 135th Street, two key east-west corridors in northeast Miami-Dade County. The property offers easy access to major thoroughfares, including Interstate 95 and Biscayne Boulevard, making travel throughout Miami effortless. The property is available for $7,800,000, which translates to $243,750 per unit or approximately $250 per square foot. With many tenants currently on month-to-month leases, a new owner has the opportunity to quickly adjust rents to market rates, potentially enhancing returns. ASSUMABLE FINANCING AVAILABLE: 52% LTV, 3.95% interest rate, maturity in 2029.

13155 NE 6TH AVE-VR-CFM-REVISED

PROPERTY FACTS

Price	$9,836,200 CAD	Building Class	C
Price Per Unit	$307,381 CAD	Lot Size	0.88 AC
Sale Type	Investment	Building Size	24,654 SF
Cap Rate	7.55%	Average Occupancy	100%
No. Units	32	No. Stories	2
Property Type	Multifamily	Year Built	1964
Property Subtype	Apartment	Parking Ratio	0.78/1,000 SF
Apartment Style	Garden

Price	$9,836,200 CAD
Price Per Unit	$307,381 CAD
Sale Type	Investment
Cap Rate	7.55%
No. Units	32
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	0.88 AC
Building Size	24,654 SF
Average Occupancy	100%
No. Stories	2
Year Built	1964
Parking Ratio	0.78/1,000 SF