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Presented by
Margaret Shea |
2301 Atlantic Ave, Opa-Locka, FL, 33054 | $8,640,000
Multi-Family Investment Opportunity – Opa-Locka, Miami
This 48-unit portfolio consists mostly of two-bedroom units, offering higher rental income and stronger returns. With one-bedroom units already selling for $180K per door, this is a competitive investment.
Opa-Locka is experiencing rapid growth and gentrification, making it one of the last affordable investment areas in Miami. Section 8 now pays above market rents, creating a strong cash-flow opportunity.
Total Building Size: 47, 116 SqFt | Total Lot Size: 71, 954 SqFt
2301 Atlantic Ave (24 Units)
24 x 2Bed/1Bath | Building Size: 24, 180 SqFt Lot Size: 32, 100 SqFt
13240 Port Said Rd (24 Units)
22 x 2Bed/1Bath 2 x 1Bed/1Bath | Building Size: 22, 936 SqFt Lot Size: 39, 852 SqFt
Cap Rate: 5. 69% Pro-Forma: 8. 55% Price per Door: $180K
Features
- Property Type: Multi Family
- Construction: Block
- Parking: 100-car
- Heating: Central,Electric
- Cooling: Central Air
- Units: 48
- Zoning: 0100
- Year Built: 1972
- Est. Taxes: $24,889
- Lease Term Type: 36 Months
- MLS#: A11750110
- Days on Market: 46 days
- Website: https://www.raveis.com
/prop/A11750110/2301atlanticave_opalocka_fl?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Margaret SheaLuxury Properties Specialist
203.525.5837
Margaret.Shea@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Paul AddamoVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 93047
860.990.2486
paul.addamo@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Heidi SummaRegional SVP Insurance Sales, William Raveis Insurance
860.919.8074
Heidi.Summa@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
2301 Atlantic Ave, Opa-Locka, FL, 33054
$8,640,000
Margaret Shea
Luxury Properties Specialist
William Raveis Real Estate
Phone: 203.525.5837
Margaret.Shea@raveis.com
Paul Addamo
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 860.990.2486
paul.addamo@raveis.com
NMLS Mortgage Loan Originator ID 93047
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $6,912,000 | $6,912,000 | $6,912,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.625% | 6.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.861% | 6.751% | 6.666% |
| Monthly Tax Payment | $2,074 | $2,074 | $2,074 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $41,998 | $44,258 | $60,211 |
| Total Monthly Payment | $44,197 | $46,457 | $62,410 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388