127 NW 47th Terrace, Miami, FL 33127
$1,690,000
Property Type:
Residential Income
Square Footage:
3,976
Status:
Active
Current Price:
$1,690,000
Last Modified:
10/06/2023
Description
Great Investment opportunity with stable rent growth and cash flow. Located in close proximity to the Design District, Wynwood, and downtown Miami. In total the property consists of 6 individual units with a total of 11 bedrooms and 6 bathrooms. Included is a one story single family home which was subdivided into a 2 bedrooms, 1 bath apartment and an additional 1 bedroom, 1 bath apartment. Two separate 2 -story buildings in the back of the property consist of another 4 apartments, each having 2 bedrooms and 1 full bath. All units are secured with current tenants and an average monthly rent of $2,200. Laundry is on premiss. This property offers an opportunity to increase cash flow even further, through small improvements according to fair market value.
More Information MLS# RX-10911891
Contract Information
Listing Date: 2023-08-15
Status: Active
Original List Price: 1795000
Auction: No
List Price: $1,690,000
Current Price: $1,690,000
List Price/SqFt: 425.05
Comm/Non-Rep: 0%
Comm/Buyer Agent: 3%
Comm/Trans Brk: 3%
General Property Description
Type: Quad Plex
Structure Type: Quadruplex
Total # of Units: 6
Property Condition: Resale
Year Built: 1926
Number of Stories: 2
SqFt - Total: 3976
SqFt - Living: 3976
SqFt Source: Tax Rolls
Gated Community: No
Homeowners Assoc: None
Directions: use GPS pls
Subdivision: SHADOWLAWN EXTENSION SUB
Lot SqFt: 6000
Lot Dimensions: 50.0 ft x 120.0 ft
Waterfront: No
Private Pool: No
Pets on Premises: Yes
Separate Elec Meters: Yes
Separate Wtr Meters: Yes
Location, Tax & Legal
Area: 2310
Geo Area: DADE
Country: United States
County: Miami-Dade
Parcel ID: 0131240160540
Street #: 127
Street Dir: NW
Street Name: 47th
Street Suffix: Terrace
State/Province: FL
Zip Code: 33127
Short Sale: No
Short Sale A/U: N/A
Short Sale Addendum: No
Multiple Ofrs Acptd: No
REO: No
HOPA: No Hopa
Legal Desc: SHADOWLAWN EXTN PB 5-105 LOT 22 BLK 4 LOT SIZE 50 X 120 OR 19700-0036 05 2001 1 COC 22532-4432 07 2004 1
Zoning: T-3-L
Tax Year: 2022
Taxes: 9043.25
Special Assessment: No
Geo Lat: 25.819406
Geo Lon: -80.198332
Office/Member Info
DXORIGMLNO: RX-10911891
DXORIGMLSID: RML
Unit 1 Info
Bedrooms: 4
Full Bath: 2
Furnished: Partial
SqFt: 1400
Monthly Income: 2200
Unit 2 Info
Bedrooms: 2
Full Bath: 1
Furnished: Partial
SqFt: 700
Monthly Income: 2200
Unit 3 Info
Bedrooms: 3
Full Bath: 2
Furnished: No
SqFt: 1176
Monthly Income: 2500
Unit 4 Info
Bedrooms: 2
Full Bath: 1
Furnished: No
SqFt: 700
Monthly Income: 2200
Income & Expenses
Gross Operating Inc: 112130
Annual Total Expense: 25385
Annual Net Oper Inc: 86745
Storm Protection
Panel Shutters: Complete
Property Features
Source of Expenses: Owner
Construction: CBS; Concrete
Waterfront Details: None
Unit 1 Desc: A/C Unit; Electric Meter; Kitchen; Range - Electric; Refrigerator
Unit 1 Parking: Open Parking
Unit 2 Desc: A/C Unit; Electric Meter; Kitchen; Range - Electric; Refrigerator
Unit 2 Parking: Open Parking
Unit 3 Desc: A/C Unit; Electric Meter; Kitchen; Range - Electric; Refrigerator
Unit 3 Parking: Open Parking
Unit 4 Desc: A/C Unit; Electric Meter; Kitchen; Range - Electric; Refrigerator
Unit 4 Parking: Open Parking
Lot Description: < 1/4 Acre
Exterior Features: Open Porch
Subdiv. Amenities: None
Tenant Pays: Cable; Electric
Restrict: Other
Flooring: Vinyl Floor
Cooling: Central; Central Individual; Electric
Heating: Central; Central Individual; Electric
Roof: Flat Tile
Terms Considered: Cash; Conventional
Utilities: Public Sewer
Taxes: No Homestead
Avail Info: Investment Analysis; Leases
Possession: Funding
Listing Office: Douglas Elliman
Last Updated: October - 06 - 2023
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