59-79 NW 10th St 7 Unit Apartment Building $1,568,629 CAD ($224,090 CAD/Unit) 6.53% Cap Rate Homestead, FL 33030

MSP Group, LLC is proud to be the exclusive listing broker for Homestead Villas 7 units located at 59-79 NW 10th Street, Homestead, FL 33030. The owner will take over a property with excellent in place cashflow with an average rent of $1,604 and super majority ownership of 7 out of 9 condo units. The subject units are all efficiently laid out 1 bedroom units with spacious living rooms and central air conditioning. Each unit has it owns private back yard/patio that is accessed through a door in the kitchen an amenity rarely seen with 1-bedroom units. The property also has a spacious on-site laundry facility with 5 storage rooms that are not being used and could generate additional income. The property is conveniently located minutes from US-1 and the Florida Turnpike, two of Miami-Dade County’s main north/south arteries. The property is steps away Krome Avenue and Downtown Homestead, which is enjoying large amounts of new investments, including the reopening of the historic Seminole Theatre and most notably the 65,000 SF Homestead Station that. Homestead Station includes a movie theatre, bowling alley, large arcade, multiple dining, and retail options. This transformative, mixed-use development has not only brought vibrant new amenities to the neighborhood but also serves as an integral part of the South Dade busway which is currently undergoing massive improvements. In late 2020, DTPW was awarded a $99.9 million grant from the Federal Transit Administration specifically for the South Corridor Rapid Transit Project. FDOT has also committed an additional $100 million, with Miami-Dade County funding the remaining $100 million for the South Dade Rapid Transit Project. This recently upgraded busway gives South Dade residents easy and affordable access to Downtown Miami and everywhere in between. Additionally, new public sector investment is happening with the recently completed Police Station and City Hall in the City of Homestead, only minutes from 59-79 NW 10th Street. A massive new campus for Miami-Dade College, including a student entertainment center and a park with interactive games and the ability to host special events are in the works.