8 Unit Apartment Building near Coral Gables

  SOLD February 2016 for $830,000

324 Mendoza Avenue, Miami, Florida 33134


Building Size5,124 Square Feet
Land Size5,000 Square Feet
Units8
ZoningResidential
ParkingStreet
WaterMiami-Dade Water & Sewer
SewerMiami-Dade Water & Sewer
ElectricSeparately Metered - FPL
Year Built1926
RoofFlat

This highly desirable 8 unit apartment building is located one block from the Coral Gables city limits. It consists of 8 1 bedroom/1 bath units averaging 432 SF per unit on 2 floors. Each unit has a separate electric meter. The building will require some capital improvements to bring it up to its full potential. With renovations, a cap rate of 5.25% is achievable.

This apartment building is located one block from LeJuene Road, 1 block from Ponce de Leon and 5 blocks north of Miracle Mile, close to offices, shopping and restaurants. It is 10 minutes from Miami International Airport and 20 minutes from Downtown and Brickell Avenue.


The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.


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