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Biscayne Gardens Villas 60 NW 161st St 8 Unit Apartment Building $2,910,180 CAD ($363,773 CAD/Unit) 6.84% Cap Rate Miami, FL 33169
Investment Highlights
- Attractive duplex-style layout across 4 buildings with clean central courtyard, low operational intensity and ideal for 1031 Exchange
- Highly financeable asset w/ stabilized in-place income, half from market tenants and half from Section 8 tenants
- Optional value-add for the interiors of 4 of the units, with 4 units already freshly remodeled with stainless steel appliances and modern finishes
- Diversified unit mix features (6) 1 BR units & (2) 2 BR units, all oversized with an average of 700 SF for the 1 BR units and 900 SF for the 2 BR unit
- Long-term structural durability with buildings featuring 40-Year Recertifications, new roofs as of 2017, tile floors, impact glass, and central A/C
- Convenient on-site parking for 8 vehicles with additional street parking nearby
Executive Summary
THE ALPHA COMMERCIAL ADVISORS® PRESENTS BISCAYNE GARDENS VILLAS, A STABILIZED RENTAL COMPOUND OFFERING A LOW-MAINTENANCE INVESTMENT WITH CONSISTENT 100% OCCUPANCY & REMAINING INTERIOR VALUE-ADD UPSIDE….
Sporting a balanced unit mix of six (6) 1 BR / 1 Bath units and two (2) 2 BR / 1 Bath units as well as an evenly varied income profile from 50% Section 8 and 50% market rate tenancies, the property features full exterior and partial interior renovation primed for long-term durability with upgrades including impact glass, central A/C, tiled floors, newer 2017 roof, completed 40-year recertification, gated courtyard, and all on-site parking and laundry.
Positioned within a quiet residential pocket experiencing several brand new construction projects recently completed across the street, the property benefits from steady rental demand and reliable cash-flow from its proximity to major North Miami Beach NE 167th/NE 163rd St commercial corridor and the Golden Glades Interchange for unmatched connectivity to the entire region.
Sporting a balanced unit mix of six (6) 1 BR / 1 Bath units and two (2) 2 BR / 1 Bath units as well as an evenly varied income profile from 50% Section 8 and 50% market rate tenancies, the property features full exterior and partial interior renovation primed for long-term durability with upgrades including impact glass, central A/C, tiled floors, newer 2017 roof, completed 40-year recertification, gated courtyard, and all on-site parking and laundry.
Positioned within a quiet residential pocket experiencing several brand new construction projects recently completed across the street, the property benefits from steady rental demand and reliable cash-flow from its proximity to major North Miami Beach NE 167th/NE 163rd St commercial corridor and the Golden Glades Interchange for unmatched connectivity to the entire region.
Property Facts
| Price | $2,910,180 CAD | Building Class | C |
| Price Per Unit | $363,773 CAD | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 5,973 SF |
| Cap Rate | 6.84% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1968/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.34/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RU-1 | ||
| Price | $2,910,180 CAD |
| Price Per Unit | $363,773 CAD |
| Sale Type | Investment |
| Cap Rate | 6.84% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 5,973 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1968/2024 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | RU-1 |
Amenities
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 700 |
| 2+1 | 2 | - | 900 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 30-2113-002-0410 | Improvements Assessment | $1,225,439 CAD |
| Land Assessment | $474,524 CAD | Total Assessment | $1,699,963 CAD |
Property Taxes
Parcel Number
30-2113-002-0410
Land Assessment
$474,524 CAD
Improvements Assessment
$1,225,439 CAD
Total Assessment
$1,699,963 CAD
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Biscayne Gardens Villas | 60 NW 161st St
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