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525 SW 1st Ave Homestead, FL 33030
9,628 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,628 sqft
Price per Sqft $212
MLS Listing ID A12000553
HOA Y/N No
Year Built 1973
Annual Tax Amount $28,906
Tax Year 2025
Lot Size 0.333 Acres
Property Sub-Type Multi Family
Property Description
525 SW 1st Avenue is a 12-unit building located in Homestead, FL. The property is made up of 12 expansive 802 SF 1 bedroom 1 bathroom apartments with walk in closets, full size kitchens formal dining and living areas. The units all feature central air conditioning along with impact windows and doors. These spacious units provide an owner with long term tenants and excellent average rent of $1,560. The property ais up to date with the 40-year recertification through the City of Homestead . This asset allows an investor to step in to an asset that is producing excellent cashflow along with some rental upside through more section 8 tenants and other potential strategies. The new owner of the property will be stepping into a building with excellent in place cashflow but will still have some rental upside. The building is well suited for section 8 and market rate tenants with the significant amount of employment in South Dade and the Florida Keys. These units provide essential workforce housing in a high occupancy market and will standout amongst rental product available in the area due to size and condition. Area rents are continually increasing as the demand for affordable housing expands throughout South Florida.
Location
State FL
County Miami-dade
Area 79
Interior
Heating Central
Cooling Central Air
Window Features Impact Glass
Exterior
Private Pool Yes
Building
Story 2
Level or Stories Two
Structure Type Block
Others
Tax ID 10-78-13-050-0390
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12000553
Listed by MSP Group, LLC
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