flamingo apartments miami beach florida · apartment building resides in the heart of north beach...
TRANSCRIPT
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FLAMINGOAPARTMENTSMIAMIBEACHFLORIDA
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PRICINGANDFINANCIALANALYSIS
PRICE $1,299.000
DOWPAYMENT 100%/$1,299.00
PRICE/UNIT $162,375
PRICE/SF $247.42
NUMBEROFUNITS 8
NUMBEROFBUILDINGS 1
NUMBEROFSTORIES 2
YEARBUILT 1940
LOTSIZE 5,250SF
OFFERINGSUMMARY
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No.OFUNITS
UNITTYPE APPROX.SQUAREFIT
CURRENTRENTS
MONTHLYINCOME
4 STUDIO1BATH 490 $1,000$1,100 $4,300
4 1BDR1BATH 600 $1,100$1,250 $3,500
8 TOTOAL 4,368
UNITMIX
UNITNUMBER
UNITTYPE UNITSF CURRENTRENT
1 1BDR 1BATH 600 $1,150
2 1BDR 1BATH 600 $1,250
3 STUDIO 1BATH 490 $1,100
4 STUDIO 1BATH 490 $1,000
5 1BDR 1BATH 600 VACANT
6 1BDR 1BATH 600 $1,100
7 STUDIO 1BATH 490 $1,200
8 STUDIO 1BATH 490 $1,000
8 TOTAL OCCUPIED 4,360 $7,800
8 TOTAL 4,360 $7,800
RENTROLL
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EXPENSES CURRENT PERUNITRealStatetaxes $14,590.83 $1,823.85
Insurance $6,000 $750
WasteService $2,292 $286
WaterandSewer $5,590 $698
Landscaping
$900 $112
FPL $168 $21
PestControl $312 $39
TOTALEXPENSES
29,852.83 3729.83
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FINANCIALOVERVIEW
LOCATION
7124BayDriveMiamiBeach,FL33141
Price $1,299.000
NumberofUnits 8
Price/Unit $162,375
RentableSquareFeet 4,368
Price/SF $247.42
YearBuilt 1940
LotSize 5,250SF
TypeofOwnership FeeSimple
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PROPERTYDESCRIPTION
InvestmentHighlights• ExcellentMiamiBeachLoca_on• CloseProximitytoNormandyAreaShopsandDining• LessthanTwoMilesfromtheAtlan_cOcean• QuickPublicTransporta_onAccess• MinutesfromSouthBeach,BalHarborandSunnyIsles• HistoricallyHighOccupancyRatesinMiamiBeach• FullyOccupiedBuilding• Par_allyRenovatedProperty(40YearCer_fica_oninPlace)
INVESTMENTOVERVIEW
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GolodGroupispleasedtopresentforsale7124BayDrive,aneight-unitapartmentbuildinglocatedinMiamiBeach,Florida.Propertyiscomprisedoffourone-bedroom/one-bathunitsandfourlargestudio/one-bathunits,approximately4,368squarefeetofrentablespacethatsitsona5,250-squarefootlot.ApartmentbuildingresidesintheheartofNorthBeachandprovidesexcep_onalaccesstoemployment,localschools,neighborhoodservices,entertainment,shoppingandthebestFloridabeaches.Publictransporta_onisavailableminutesawayfromthebuilding.BuildinglocatedonthecornerofBayDriveandMarseilleDrive,onNormandyIsland,oneblocknorthofhighlytrafficked71StreetandlocatedstepsawayfromNormandyCircle.NormandyIslandinMiamiBeachisahighlydesirable,sought-agermarketplacethathasseenrisingrentalratesandpropertyvalues.This,coupledwiththeevolu_onofthetowncenter,increasedtourism,andnewconstruc_onputsthison any investors’ radar. Building represents an excellent opportunity to purchase a stabilized asset in a highly compe__veMiami Beachapartmentmarketwithhistoricallyhighoccupancyratesanddemand.
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PROPERTYSUMARY
THEOFFERINGProperty FlamingoApartments
PropertyAddress 7124BayDriveMiamiBeach,FL33141
Zoning Mul_family/Office
SITEDESCRIPTION
NumberofUnits 8
NumberofBuildings 1
NumberofStories 2
YearBuilt 1940
RentableSquareFeet 4.368
LotSize 5,250SF
TypeofOwnership FeeSimple
Density Medium
Parking OffStreet
Water PaidbyLandlord
Phone PaidbyTenant
Electric PaidbyTenant
Gas PaidbyLandlord
UTILITIES
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CONSTRUCTION
Founda_on ConcreteBlock
Exterior ConcreteStucco
Roof WhiteBarrelTileRoof
MECHANICAL
HVAC WallUnits
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PROPERTYPHOTOS
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