$1,870,000
$1,970,000
5.1%For more information regarding the value of a property, please contact us for a free consultation.
3,275 SqFt
SOLD DATE : 09/01/2022
Key Details
Sold Price $1,870,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,275 sqft
Price per Sqft $570
Subdivision Palmetto Duplexes Addn No
MLS Listing ID A11239953
Sold Date 09/01/22
Construction Status Effective Year Built
HOA Y/N No
Year Built 2022
Annual Tax Amount $12,214
Tax Year 2021
Contingent Pending Inspections
Property Description
*ALREADY PRODUCING $12,000 PER MONTH. BOTH UNITS RENTED* Collect rent from high quality tenants that make passive income a breeze. This duplex is now producing $12,000 a month. With a low initial tax basis, this property is destined to be a great investment. It has been extensively renovated and is basically brand new: new roof, new pool, new bathrooms, new tile. The below financials are already in place and end up at a cap rate of ~6.2%. Effortlessly get your cash into the mid teens when purchased with leverage. Monthly income: $12,000 Yearly property taxes $17,000 (includes post-purchase adjustment) Yearly insurance $4,000 Yearly utilities & misc costs $2,400 Total expenses $23,400 Total income $144,000 ***NOI $120,600*** @ ~6.1% cap rate = $1,970,000
Location
State FL
County Miami-dade County
Community Palmetto Duplexes Addn No
Area 50
Interior
Heating Other
Cooling Central Air, Ceiling Fan(s), Electric
Flooring Ceramic Tile, Marble
Exterior
Pool Fenced, In Ground, Other, Pool
Utilities Available Cable Available
Waterfront No
Roof Type Shingle
Total Parking Spaces 4
Building
Lot Description 1/4 to 1/2 Acre Lot
Story 1
Sewer Septic Tank
Level or Stories One
New Construction true
Construction Status Effective Year Built
Others
Tax ID 20-50-10-037-0020
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
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Bought with LP Realty, LLC.
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