USD 2,200,000

1 NE 78th St
Miami, Florida 33138

For Sale

Property Description

Fausto Commercial is pleased to present the Sea Breeze Apartments at 1 NE 78th Street in Miami Florida.  This is a 13-unit apartment building located in the Upper East Side neighborhood of Miami. The property consists of 10 one-bedroom/one-bathroom units and 3 Studios totaling 7,496 rentable square feet. This property is a 1970's vintage and fully remodeled in 2019-20 including all impact windows.  It’s situated on a 13,063 Sq Feet of T6-8-0 land. The property is being offered for sale at $2,200,000 representing a 5.61% cap rate based on current in-place income. After increasing rents to market average, the year one cap is expected to rise to 7.78%. 
The Sea Breeze Apartments is located near 79th Street and North Miami Avenue, two major thoroughfares in Upper East Side.

Listed by Fausto Commercial Realty Consultants Inc

Property Details

ID #
A10886739
Status
Sale
Type
Commercial, Industrial
Zip Code
33138
Building Area
7,496ft2
Year Built
1971
Occupancy
Call Listing Agent
Type of Building
Apartments
Utilities
Internet
Zoning Information
6100

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