RRI Presents

Presented by Rich Realty Investments Inc. 13899 Biscayne Blvd. suite 129, North Miami Beach, 33181

Contact Carlos Martell 786-553-2729 [email protected] 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 Island, North Beach 33141  Property type Multi family  Total area 21000 sq ft-1/2 acre  Year built 1948  Total units 13  Price $3.9 M  Pro Forma Cap Rate 3.91 %  NOI $78,288.33

Rich Realty Investments Inc. 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 . 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 to 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 an even more attractive investment. Leases are under market rates. Currently looking to rent the last three units at market rent. There is a high demand for rentals in the neighborhood. Lease terms

Address Lease terms Monthly Income

7757 Crespi boulevard $3600 7751 Hawthorne Ave $1,050.00 7753 Hawthorne Ave vacant 7755 Hawthorne Ave vacant 7757 Hawthorne Ave vacant

7731 Hawthorne Ave 06/01/2017-05/31/2018 $790.00 7733 Hawthorne Ave 06/18/2016-05/17/2018 $900.00 7735 Hawthorne ave 06/19/2017-/6/18/2018 $790.00 7735R Hawthorne Ave 06/15/2017-06/14/2018 $740.00

7747 Hawthorne Ave 6/1/2017-05/31/2018 $850.00 7743 Hawthorne Ave 06/25/2017-06/24/2018 $790.00 7745 Hawthorne Ave 06/03/2017-06/02/2018 $840.00 7741 Hawthorne Ave 01/01/2017-12/31/2017 $841.00 Total monthly income $11,191.00 Income and Expenses

 Income Expenses Monthly Rent County Taxes $39,683.67 $11,191.00 Yearly Rent M/R $3,000.00 $134,292.00 Utilities $13,320.00 Total expenses $56,003.67

Net Income $78,288.33 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.

Rich Realty Investments Inc.

Rich Realty Investments Inc.’s team has been in the real estate market for almost 20 years. The commercial division handles offices, retails, multifamily and businesses. Our passion to serve and commitment to excellence has positioned the company among the best in the state. Our Mission Statement: Our philosophy is simple: clients come first. We pledge to be in constant communication with our clients, keeping them fully informed throughout the entire buying or selling process. We believe that if you’re not left with an amazing experience, we haven’t done our job. We don’t measure success through achievements or awards, but through the satisfaction of our clients. Our Clients are for life. Rich Realty Investments Inc.

Carlos Martell [email protected] 786-553-2729