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176 NE 68th St
Miami, FL 33138

Knight Center Apartments · Residential Property For Sale · 112 Units

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Executive Summary

Discover an outstanding investment opportunity for Multifamily/Low-Rise/Garden investors in the Miami area. This impressive 57,969 SF property, built in 1947, features 112 residential units, strategically zoned T5-L to offer a multitude of redevelopment options. Situated on a 3.03-acre redevelopment site, the property holds the potential for 197 buildable units, making it an enticing prospect for expansion. Its strategic location, just minutes from Biscayne Blvd. and the I-95 Expressway, paired with its placement in a Qualified Opportunity Zone, enhances its investment appeal. This property presents a compelling and lucrative opportunity for investors in the thriving Miami real estate market.

PROPERTY FACTS

Price Per Unit	£198,145	Building Class	C
Sale Type	Investment	Lot Size	3.00 AC
Net Initial Yield	5.65%	Building Size	58,744 SF
No. Units	112	Average Occupancy	97%
Property Type	Residential	Number of Floors	2
Property Subtype	Apartment	Year Built/Renovated	1947/2023
Apartment Style	Garden	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price Per Unit	£198,145
Sale Type	Investment
Net Initial Yield	5.65%
No. Units	112
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	3.00 AC
Building Size	58,744 SF
Average Occupancy	97%
Number of Floors	2
Year Built/Renovated	1947/2023
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

Air Conditioning
Cable Ready
Dishwasher
Disposal
Heating

Kitchen
High Speed Internet Access
Ice Maker
Refrigerator
Oven

Range
Tub/Shower
Walk-In Closets
Carpet
Handrails

Vinyl Flooring
Warming Drawer
Wheelchair Accessible (Rooms)
Window Coverings
Large Bedrooms

Site Amenities

24 Hour Access
Property Manager on Site
Tenant Controlled HVAC

Renters Insurance Program
Hearing Impaired Accessible

Maintenance on site
Online Services

Vision Impaired Accessible
Individual Locking Bedrooms

Unit Mix Information

Description	No. Units	Avg. Rent.Mo	SF
1+1	64	£1,030	461 - 477
2+1	48	£1,347	592 - 605

PROPERTY TAXES

Parcel Number	01-3113-011-0010	Improvements Assessment	£0
Land Assessment	£0	Total Assessment	£4,486,453

PROPERTY TAXES

Parcel Number

01-3113-011-0010

Land Assessment

£0

Improvements Assessment

£0

Total Assessment

£4,486,453

zoning

Zoning Code	R-3 (Residential)
R-3 (Residential)

Listing ID: 31405383
Date on Market: 03/04/2024
Last Updated:
Address: 176 NE 68th St, Miami, FL 33138

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