About this Property
Exceptional cash-flowing fourplex featuring a rare 3-bedroom owner's suite, offering a massive value-add opportunity for investors and owner-occupants. The property currently generates a secured $4,594 per month from just two units: Unit 2 has a stable Section 8 tenant at $2,394/month, and Unit 1 features a newly signed lease at $2,200/month commencing October 1st. The immediate upside lies in the remaining two vacant units. Unit 3 is a 1-bedroom layout with a proven track record as a successful short-term rental, historically grossing up to $3,000/month during peak summer months (conservatively projected at $2,200/month annually). Unit 4 is a highly desirable 3-bedroom suite projected at $4,000/month, perfect for an owner-occupant looking to live on-site while the other three units cover the operating costs. At full market stabilization, the projected gross annual income exceeds $129,000. The building features solid physical updates throughout, making the units highly leasable and easy to maintain. Please note: The property is being sold strictly as-is. The buyer will be required to assume an open municipal permit file and sign a hold-harmless agreement at closing. The recent price reduction directly reflects this requirement, leaving ample room for a cash buyer to clear the permits and stabilize the asset for a premium yield.
Disclaimer
MIAMI Association of REALTORS® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed. Copyright MIAMI Association of REALTORS®, MLS All rights reserved. This property is courtesy of Compass Florida, LLC.