11520 NE 6th Ave
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11520 NE 6th Ave
12 Unit Block of Flats £2,428,230 (£202,352/Unit) 5.02% Net Initial Yield Biscayne Park, FL 33161
Investment Highlights
- One of only 2 multifamily buildings in Biscayne Park.
Executive Summary
This 12-unit boutique building is located in the heart of North Miami, small city of Biscayne Park, just a few blocks from shops such as Whole Foods, Publix, Home Depot, CVS, Walgreens and more. Biscayne park has only private houses except for two 2-story apartment buildings, one of which is this one. The building consists of 12 studios. Most units feature upgrades consisting of new flooring, updated kitchens, bathrooms and appliances. The property features on-site laundry room and a large parking area. The building offers an investor the opportunity to purchase a greatly located stable cash flowing asset with potential rent increase. The investment opportunity offers amazing rents on day one with the ability to increase rents significantly in a location that simply cannot be beaten.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£159,981
|
£26.29
|
| Other Income |
£3,133
|
£0.51
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£163,114
|
£26.80
|
| Taxes |
£28,568
|
£4.69
|
| Operating Expenses |
£12,661
|
£2.08
|
| Total Expenses |
£41,229
|
£6.77
|
| Net Operating Income |
£121,885
|
£20.03
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £159,981 |
| Annual Per SF | £26.29 |
| Other Income | |
|---|---|
| Annual | £3,133 |
| Annual Per SF | £0.51 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £163,114 |
| Annual Per SF | £26.80 |
| Taxes | |
|---|---|
| Annual | £28,568 |
| Annual Per SF | £4.69 |
| Operating Expenses | |
|---|---|
| Annual | £12,661 |
| Annual Per SF | £2.08 |
| Total Expenses | |
|---|---|
| Annual | £41,229 |
| Annual Per SF | £6.77 |
| Net Operating Income | |
|---|---|
| Annual | £121,885 |
| Annual Per SF | £20.03 |
Property Facts
| Price | £2,428,230 | Building Class | C |
| Price Per Unit | £202,352 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 6,086 SF |
| Net Initial Yield | 5.02% | Average Occupancy | 100% |
| No. Units | 12 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1939 |
| Property Subtype | Apartment | Parking Ratio | 2.3/1,000 SF |
| Apartment Style | Low Rise |
| Price | £2,428,230 |
| Price Per Unit | £202,352 |
| Sale Type | Investment |
| Net Initial Yield | 5.02% |
| No. Units | 12 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 6,086 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1939 |
| Parking Ratio | 2.3/1,000 SF |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Tile Floors
- Eat-in Kitchen
- Wooden Floors
- Refrigerator
- Satellite TV
- Oven
- Tub/Shower
- Deck
- Instant Hot Water
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 12 | £1,136 | 600 |
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PROPERTY TAXES
| Parcel Number | 17-2230-031-0990 | Total Assessment | £1,256,809 (2024) |
| Land Assessment | £712,816 (2024) | Annual Taxes | £28,568 (£4.69/sf) |
| Improvements Assessment | £543,993 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
17-2230-031-0990
Land Assessment
£712,816 (2024)
Improvements Assessment
£543,993 (2024)
Total Assessment
£1,256,809 (2024)
Annual Taxes
£28,568 (£4.69/sf)
Tax Year
2023
zoning
| Zoning Code | RU-1, Biscayne Park |
| RU-1, Biscayne Park |
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Dr. Sandler
11520 NE 6th Ave
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