Real Capital Partners is pleased to present 3079 NW 11th St. Miami, Fl. 33125. Great opportunity to purchase a multifamily investment property in a high demand rental area. The property consists of 6 two-story duplex structures with a total of 12 units. Most units are 3BR/2.5 BA and some have converted the living room to a fourth bedroom. The roofs are in good condition and the property has approximately 40 parking spaces. Tenants are all month to month but have resided long-term with some tenants as long as 20 years. The owner is offering financing 5.5% interest only with a minimum down payment of $l.4mm.
The property is generating a 5.52% cap rate on current income. Upon increasing rents to $2,000 per unit, the cap rate will increase to 7.57%.
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