San Marcus Apartments
Closed1259 NW 58th Terrace, Miami, FL 33142
Property type
Multifamily
Unit / Space count
12
Price
$1,800,000
Building size
6,732 sf
Rentable area
6,732 SF
Year built
1959
Year renovated
Occupancy
100%
Stories
2
APN
01-3114-043-1320, 01-3114-043-1330
Zoning code
T4-L
Lot size
0.24 Acres
Unit mix
8x
1br
4x
2br
Bedroom count
Price per Unit
$150,000
Price per SF
$267.38
Property description
San Marcus Apartments is an 12-unit, multifamily community located in Miami, FL, which is in Miami-Dade County. The subject property consists of two, garden-style buildings built in 1959 using reinforced concrete block construction with painted stucco exterior. The property is located at 1259 & 1279 NW 58th Ter., north of NW 54th St, West of NW 12th Ave, and East of NW 27th Ave, a main traffic artery traveling north-south through Miami-Dade County. The immediate neighborhood consists of primarily single-family houses & multi-family buildings of similar age and construction as the subject property. The investment opportunity consists of an attractive unit mix of (8) one-bedroom & one-bathroom and (4) two-bedroom & one-bathroom apartments, totaling approximately 6,732 RSF. All units offer new kitchens, with appliances, new bathrooms, and tiled floors. Common area amenities include on-site laundry and resident parking. San Marcus Apartments offers an investor the opportunity to purchase an income producing property in one of the strongest rental markets in South Florida, where vacancies are virtually non-existent. With long-term tenants in place, a new owner has the opportunity to significantly raise rents within year one of ownership.
Property highlights
- Sold ALL CASH at List Price representing $150,000 a door
- Competitive transaction with multiple offers
- Contract to close within 30 days
- Located in an Opportunity Zone