North Miami 10 Unit Multifamily building. 1950s construction, solid concrete block style building in this dynamic neighborhood that is seeing tremendous growth in value. Currently operating with rents below market. Centrally located between Barry University, Johnson & Wales University, and FIU Biscayne Bay Campus - the student housing market is under served in this area, and the campuses are great employers. Blocks from restaurants, new craft breweries and vodka distillery. North Miami has seen its household income grow from $35,988 in February 2016 to $40,882 in June 2018. North Miami's unemployment rate has ticked down 1.8% points since February 2016 to 4.7% today. This area will boom with the proposed Chinatown Cultural Arts & Innovation District!

790 NE 123 St, Miami, FL 33161 North Miami Apartments; 10 Unit Building

Square Ft: 5,332

Land Sq Ft: 11,566

Zoning: R-5

Year Built: 1950

CALL 305 961 1179 VISIT FAUSTOCOMMERCIAL.COM

PRICE $1,300,000Units Type1 Bed and 1 Bath 31 Bed and 1 Bath 31 Bed and 1 Bath 22 Bed and 2 Bath 1(Same tenant occupies 2 units)GrossIncomeVacancyR.E. TaxInsuranceWaste ServicesElectricity (FPL)Repairs/MaintenanceCapital Reserves 3%Total ExpenseExpense RatioNOI

Current Proforma$700 $1,150$500 $1,150$575 $1,150$1,100 $1,150

$70,200 $138,000$3,510 $6,900$9,101.68 $14,400$7,375 $12,000$5,820 $5,820$5,880 $5,880$6,000 $5,000N/A $4,140$34,177 $54,14048.7% 39.2%$36,023 $83,860

For Information Call:

MAURICIO VILLASUSOC: 305 340 8901E: MV@faustcommercial.com

YOLYMILER DIAZC: 786 277 6968E: YD@faustcommercial.com