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Palmetto Bay Flats 14260 SW 88th Ave 6 Unit Apartment Building $2,190,992 CAD ($365,165 CAD/Unit) 4.20% Cap Rate Palmetto Bay, FL 33176
Investment Highlights
- Exceptionally Rare And Lucrative Opportunity To Acquire A Well-Maintained, Value-Add 6-Unit Multifamily Community In The Village Of Palmetto Bay
- Some Capital Improvements Include Brand New Septic Tank & Drain Field And Updated PVC Plumbing - Passed All Recertification Inspections
- Opportunity To Increase Rents By Almost 27% - Long-Term Tenants With Strong Historical Occupancy And Low Turnover
- Property Consists Of Three Duplexes On Large 0.34 Acre Lot (One Parcel) With Favorable R-TH Zoning For Potential Future Redevelopment
- All 1 Bed 1 Bath + Den Units Featuring Central Air-Conditioning Throughout And Individual Tankless Water Heaters
- Prime Palmetto Bay Location Within Walking Distance To Restaurants, Retailers, Hospitals/Healthcare Centers, Public Transit Stations (Bus), Schools
Executive Summary
This exceptionally rare offering presents the opportunity to acquire a well-maintained, value-add 6-unit multifamily community in the Village of Palmetto Bay. The property consists of three duplexes situated on a spacious ±0.34-acre lot and was originally constructed in 1963. The asset is currently 100% occupied with long-term tenants, demonstrating strong historical performance and minimal turnover—an attractive foundation for stable in-place cash flow with future upside.
Recent enhancements include a brand-new septic tank and drain field, along with updated PVC plumbing. Most units feature fully remodeled interiors with stainless steel appliances, plank flooring, fresh paint, updated tile, new cabinetry, and granite countertops. All units are equipped with central air conditioning and individual tankless water heaters, offering tenants modern comfort while supporting efficient operations for ownership.
What truly differentiates this asset is its location - Palmetto Bay offers extremely limited multifamily inventory, contributing to lower volatility in rental demand and increased resilience during economic downturns. The area is further supported by robust demographics, including high household incomes, top-tier schools, and elevated single-family home values. The property’s prime setting east of US-1 provides residents with walkable access to daily amenities and convenient connectivity throughout Miami-Dade County, making this an appealing opportunity for multifamily investors.
Recent enhancements include a brand-new septic tank and drain field, along with updated PVC plumbing. Most units feature fully remodeled interiors with stainless steel appliances, plank flooring, fresh paint, updated tile, new cabinetry, and granite countertops. All units are equipped with central air conditioning and individual tankless water heaters, offering tenants modern comfort while supporting efficient operations for ownership.
What truly differentiates this asset is its location - Palmetto Bay offers extremely limited multifamily inventory, contributing to lower volatility in rental demand and increased resilience during economic downturns. The area is further supported by robust demographics, including high household incomes, top-tier schools, and elevated single-family home values. The property’s prime setting east of US-1 provides residents with walkable access to daily amenities and convenient connectivity throughout Miami-Dade County, making this an appealing opportunity for multifamily investors.
Property Facts
| Price | $2,190,992 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $365,165 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 4.20% | Building Size | 3,539 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 0.92/1,000 SF |
| Zoning | 305100 | ||
| Price | $2,190,992 CAD |
| Price Per Unit | $365,165 CAD |
| Sale Type | Investment |
| Cap Rate | 4.20% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 3,539 SF |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 0.92/1,000 SF |
| Zoning | 305100 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 590 |
1 1
Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Number | 33-5021-002-0200 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $913,542 CAD |
Property Taxes
Parcel Number
33-5021-002-0200
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$913,542 CAD
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Palmetto Bay Flats | 14260 SW 88th Ave
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