Basic Information
- MLS # A11113917
- Type Multi Family
- Status Closed
- Year Built 1941
- Total Sqft 10,892
- Date Listed 10/20/2021
- Days on Market 135
Introducing the MiMo Magic City Residences - a remarkable 15-unit apt. building in the heart of Miami's Upper Eastside / MiMo Distrct / Magic City Innovation District. A rare opportunity to acquire an asset in a highly desirable location at a 6.5% going-in CAP rate that easily stabilized well above a 7% CAP rate in the coming months. 13 of 15 units are master-leased to a highly sophisticated short term rental operator who pays a flat-rate rent per unit per month and covers all operating expenses (except taxes and insurance). The current gross annual income is $228k and will increase to over $240k in early 2022. The property has been fully updated in 2021 and will be sold with a transient license, clean title, 40-yr recertification, certificate of use, and business tax receipt in place.
Amenities
Exterior Features
- Waterfront No
- Parking Spaces 0
- Pool No
- Construction Type Block
- Parking Description
- Style Multi Family
Interior Features
- Adjusted Sqft 10,892Sq.Ft
- Sqft 10,892 Sq.Ft
Property Features
- Address 427 NE 62nd St
- Aprox. Lot Size 10,892
- Construction Materials Block
- Furnished Info no
- Listing Terms Cash, Exchange1031, Other
- Subdivision Complex
- Subdivision Info
- Tax Amount $19,155
- Tax Legal desc NORTH GATE PB 8-88 LOT 13 LESS S10FT & LOT 14 LESS S10FT & LESS PORT LYG IN R/W BLK 3 OR 21199-0023 0103 1 COC 25067-0648 10 2006 1
- Tax Year 0
- Terms Considered Cash, Exchange1031, Other
- Type of Property Multi Family
427 NE 62nd St
Miami, FL 33138Similar Properties For Sale
-
$3,354,5000 Beds0 Baths13,000 Sq.Ft7771 NW 7th Ave, Miami, FL 33150 -
$3,354,5000 Beds0 Baths13,000 Sq.Ft7811 NW 7th Ave, Miami, FL 33150 -
$3,325,0000 Beds0 Baths11,520 Sq.Ft5974 SW 5th Ter, Miami, FL 33144 -
$3,300,0005 Beds6 Baths12,500 Sq.Ft5300 SW 76th St, Miami, FL 33143 -
$3,300,0000 Beds0 Baths13,500 Sq.Ft90 W 23rd St, Hialeah, FL 33010 -
$3,299,0007 Beds7.5 Baths11,590 Sq.Ft3015 Meadow Lane, Weston, FL 33331 -
$3,295,0000 Beds0 Baths13,041 Sq.Ft2648 NE 24th St, Lighthouse Point, FL 33064 -
$3,200,0000 Beds0 Baths11,000 Sq.Ft1435/1340 Bay Rd/flamingo Way, Miami Beach, FL 33139 -
$3,200,0000 Beds0 Baths11,696 Sq.Ft3595 N 2nd Ave N, Palm Springs, FL 33461 -
$3,195,0000 Beds0 Baths12,773 Sq.Ft3041 Jasmine Terrace, Delray Beach, FL 33483
The multiple listing information is provided by the Miami Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2023-present Miami Association of Realtors®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: Sigma Real Estate & Investment. tel: 3053361843
Real Estate IDX Powered by: TREMGROUP
