8 Unit Apartment Building near Coral Gables
324 Mendoza Avenue, Miami, Florida 33134
Sold: $830,000
Property Details
Property Type
Residential
Building Type
Freestanding
Building Size
5,124 sqft
Land Size
5,000 sqft
Units
8
Sewer
Miami-Dade Water & Sewer
Water
Miami-Dade Water & Sewer
Zoning
Residential
Electric
Separately Metered - FPL
Year Built
1926
Roof
Flat
Parking
Street
Property Description
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.
