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Green Village Apartments 63 NE 10th St 12 Unit Apartment Building $2,261,804 CAD ($188,484 CAD/Unit) 2.67% Cap Rate Homestead, FL 33030
Investment Highlights
- Value-Add Opportunity with in-place rents approximately 40% below market
- Onsite Parking
- Offered Below Replacement Cost, providing downside protection
- Updated Electrical Systems and building recertification in place, reducing near-term capital expenditures
- Central Air Conditioning & Heating throughout the property
- Pro-Forma Cap Rate 6.7%
Executive Summary
The Green Village Apartments is a 12 unit apartment building located in the heart of Homestead, Florida at 63 NE 10th Street. It is made up of 12 large one-bedroom & one-bathroom units that average about 715 SF. This opportunity is a true value add deal through mild renovations and implementing proper management. The property has a current 40/10 year recertification, the electric has been updated, select units have updated interiors and there is ample off-street parking.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$175,187
|
$12.91
|
| Other Income |
$3,931
|
$0.29
|
| Vacancy Loss |
$8,759
|
$0.65
|
| Effective Gross Income |
$170,359
|
$12.55
|
| Taxes |
$36,471
|
$2.69
|
| Operating Expenses |
$73,574
|
$5.42
|
| Total Expenses |
$110,046
|
$8.11
|
| Net Operating Income |
$60,313
|
$4.44
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $175,187 |
| Annual Per SF | $12.91 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,931 |
| Annual Per SF | $0.29 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $8,759 |
| Annual Per SF | $0.65 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $170,359 |
| Annual Per SF | $12.55 |
| Taxes (CAD) | |
|---|---|
| Annual | $36,471 |
| Annual Per SF | $2.69 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $73,574 |
| Annual Per SF | $5.42 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $110,046 |
| Annual Per SF | $8.11 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $60,313 |
| Annual Per SF | $4.44 |
Property Facts Under Contract
| Price | $2,261,804 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $188,484 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 2.67% | Building Size | 8,582 SF |
| Gross Rent Multiplier | 12.91 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 1.28/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-3 | ||
| Price | $2,261,804 CAD |
| Price Per Unit | $188,484 CAD |
| Sale Type | Investment |
| Cap Rate | 2.67% |
| Gross Rent Multiplier | 12.91 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 8,582 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.28/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,217 CAD | 715 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 10-7907-033-0080 | Total Assessment | $1,167,604 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $36,471 CAD ($4.25 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
10-7907-033-0080
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,167,604 CAD
Annual Taxes
$36,471 CAD ($4.25 CAD/SF)
Tax Year
2025
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Green Village Apartments | 63 NE 10th St
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