An array of multifamilies…
7757 Crespi Boulevard, Miami Beach, Florida 33141 7735 Hawthorne Ave, Miami Beach, Florida 33141 7741 Hawthorne Ave, Miami Beach, Florida 33141 7751 Hawthorne Ave, Miami Beach, Florida 33141
North Beach Multifamily
Overview
Location Biscayne Point Island, North Beach 33141 Property type Multi family Total area 21000 SQ SF-1/2 acre Year built 1948 Total units 14
Atlantic Realty Investments Corp. is proudly presenting an opportunity to acquire 4 multi family properties adjacent to each other in the highly demanded area of Miami Beach.
The location, North Beach is a neighborhood of the city of Miami Beach, Florida, United States. It is the northernmost section of the city, roughly bound by 63rd Street and Indian Creek Drive to the south and 87th Terrace to the north. It collectively refers to neighborhoods including Isles of Normandy, Biscayne Point, and La Gorce. According to the 2013 census, North Beach is home to more than 43,250 people of which 49.9% are foreign born persons. 65.5% speak languages other than English at home. The median household income in North Beach is estimated to be $40,775 between 2009 and 2013. The total estimated land area of North Beach is estimated to be 4.83 square miles, with a population density of approximately 8,602.2 people per square mile according to the 2010 census. Biscayne Point is half a block from the offered property. Biscayne Point is a neighborhood of North Beach in the city of Miami Beach, Florida, United States. It is located just west of the main island that the city occupies, in the area of the city referred to as North Beach. It is actually on three islands, just north of Normandy Shores. Bridges connect the three islands which are accessible from 77th Street and from 85th Street by vehicles and from a pedestrian bridge at 80th Street.[ The property
North Beach Multifamily is an array of 4 multi families located next to each other. The are situated at the corner of Crespi and Hawthorne, on the Tatum Waterway. Next is the beautiful Crespi Park. This hidden gem is surrounded by multifamilies and the two gated communities Stillwater and Biscayne Point. The island of Biscayne Point has all the ingredients to become one the best islands of Miami Beach
The advantage of being on the water and having almost ½ acre of development area makes this property an amazing opportunity to redevelop now or in the next cycle. The subject is cash flowing with an opportunity to increase rents and make it a more attractive investment. Currently looking to rent the last three units at market rent. There is a high demand for rentals in the neighborhood. Lease Information
Address Monthly Income
7757 Crespi Blvd $2000.00 7761 Crespi Blvd $1790.00 7751 Hawthorne Ave $1050.00 7753 Hawthorne Ave $1100.00 7755 Hawthorne Ave $1100.00 7757 Hawthorne Ave $1050.00
7757 Hawthorne Ave
7731 Hawthorne Ave $814.00 7733 Hawthorne Ave $910.00 7735 Hawthorne ave $830.00 7735R Hawthorne Ave $763.00
7747 Hawthorne Ave $890.00 7743 Hawthorne Ave $830.00 7745 Hawthorne Ave $880.00 7741 Hawthorne Ave $881.00 Total monthly income $14,888.00 Income and Expenses
Income Expenses Monthly Rent County Taxes $39,683.67 $14,888.00 Yearly Rent M/R $3,000.00 $178,656.00 Utilities $13,320.00 Total expenses $56,003.67
Net Income $122,652.33 Pro forma
Address Monthly Income
7757 Crespi boulevard $3,600.00 7751 Hawthorne Ave $1,050.00 7753 Hawthorne Ave $1,250.00 7755 Hawthorne Ave $1,250.00 7757 Hawthorne Ave $1,400.00
7731 Hawthorne Ave $1,250.00 7733 Hawthorne Ave $1,250.00 7735 Hawthorne ave $1,000.00 7735R Hawthorne Ave $950.00
7747 Hawthorne Ave $1,100.00 7743 Hawthorne Ave $1,100.00
7745 Hawthorne Ave $1,100.00
7741 Hawthorne Ave $1,100.00
Total monthly income $17,400.00 Yearly Income $208,800.00 Expenses $56,003.67 Net Income $152,796.33
*numbers based on market rent, projections.