421 NW 12th St - Apartments FOR SALE


Florida City, FL 33034
$2,848,000 USD
305-799-0374
421 NW 12th St, Florida City, FL for Sale
$2,848,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

421 NW 12th St
Florida City, FL 33034


OVERVIEW

The buildings were constructed of concrete block with flat concrete roofs. These properties have seen every unit semi-renovated, cast iron drain lines replaced with PVC, a security camera system installed, property fenced in, and roof sealed in 2024. The property is up to date with the 40year recertification through Florida City. Area rents are continually increasing as the demand for affordable housing expands throughout South Florida. The property is located near US1 and the Florida Turnpike, two of Miami-Dade County’s main north/south arteries. It is also located minutes away from Downtown Homestead which is enjoying large amounts of new investments that include a new Police Station, City Hall, the reopening of the historic Seminole Theatre, the reopening of the historic Hotel Redland and the 65,000 SF Homestead Station , which includes a movie theatre, bowling alley, large arcade, multiple dinning and retail options. This expansion will continue to bring new amenities and create new employment opportunities in the immediate area. The immediate area surrounding the property is also seeing a slew of development including single family homes and large multifamily properties. The Properties are located steps away from the Miami-Dade county busway. City officials in Homestead are also planning on adding a Bus Rapid Transit System based out of Homestead Station by end 2025 which is walking distance from the property. This will help reduce transit time for residents commuting to work in central Miami. Along with the current investment in Downtown Homestead a new Campus for Miami-Dade College with a student entertainment center and a residential park with interactive games and the ability to host special events are completed They are located in an IRS Designated Opportunity Zone. These were created in the Tax Cuts and Jobs Act. The designated properties allow for preferential tax treatment to help spur investment in low income communities.

FOR SALE DETAILS

PRICE

$2,848,000 USD

PRICE/SF

$717 USD /SF

# OF UNITS

16

PRICE/UNIT

$178,000

CAP RATE

Request Cap Rate

% LEASED

30%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

RM

APN/PARCEL ID

16-7824-008-1140

ASK ABOUT THIS PROPERTY

Christian FojonAll Leveraged AmericaMore Info
305-799-0374

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Christian FojonAll Leveraged AmericaMore Info
305-799-0374

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.