225 Northwest 16th Street

Miami, FL 33136

$1,575,000
Price
Beds
3,528 Sq. Ft.
$446 / Sq. Ft.
3,528
Sq. Ft.
$446
per Sq. Ft.

Description

THIS IS A 8 UNIT a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these...THIS IS A 8 UNIT a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.
  1. Listed by Humberto Rego • New World Realty Group Inc

Property Details for 225 Northwest 16th Street

Subdivision
ERICKSONS SUB
Style
Fourplex
Waterfront
No
Area
31
Auction
No
Num Stories
2
Sq Ft Total
3528
Sq Ft Liv Area
3528.0

Location

Listing Courtesy of New World Realty Group Inc
Add your commute
LISTING UPDATED: 03/18/2024 05:35 PM

Property Details for 225 Northwest 16th Street

StatusActive
MLS #A11469018
Days on Market242
Taxes$5,578 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family Income / Fourplex
Year Built1954
Lot Size-
CountyMiami-Dade County

Location

Listing Courtesy of New World Realty Group Inc
Add your commute

Building Information for 225 Northwest 16th Street

Stories-Residences-Year Built1954Building Size-Lot Size-

Payment Calculator

$9,060 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,595

Property Taxes

$465

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 225 Northwest 16th Street

Location Information
Location Information
  • Parcel Number Free Text: 01-31-36-021-1710
  • Parcel Number MLX: 1710
  • MLS Area: 31
  • Municipal Code: 1
  • Township Range: 31
  • Section: 36
  • Subdivision Number: 21
  • Subdivision Complex Bldg: ERICKSONS SUB
  • Unit Count: 0
  • Zoning Information: 6107
General Information
Parking
  • Num Parking Spaces: 3
General Information
  • Property Type Information: Other
  • Lot Description: Less Than 1/4 Acre Lot
Additional Property Information
Utilities
  • Heating Description: Window/Wall
  • Cooling Description: Wall/Window Unit Cooling
  • Sewer Description: Municipal Sewer
  • Separate Meter: Yes
  • Cable Available: Yes
Additional Property Information
  • Guest Accommodations: No
  • Rent Includes: Lawn Care, Trash Removal
Financial Information
Financial Information
  • Total Mortgage: $400,000
  • Type of Association: None
  • Flood Zone: X
  • Tax Year: 2022
  • Tax Information: Tax Reflects No Exemptions
  • Information Available: Deposit Held, Deposit - Last Months Rent, Deposit - Security, Rent Rolls

Property History for 225 Northwest 16th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 225 Northwest 16th Street

Taxable ValueLand$236,250Additions$165,559Total$401,809
Tax Record2023$6,816 ($568 / month)
Home Facts
Total Finished SqFt3,528 SqFtAbove Grade Finished SqFt3,528 SqFtStories2Lot Size5,250 SqFtStyleMulti-Family Dwelling (2-4)Year Built1954Zoning6107:RESID-MECountyMIAMI-DADEAPN01-3136-021-1710

Schools near 225 Northwest 16th Street

This home is within Miami-Dade.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - PK to 8
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Phyllis Wheatley Elementary School
PublicPK to 5

Jose De Diego Middle School
Public6 to 8

Robert Morgan Voc-Tech Institute
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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225 Northwest 16th Street is a multi-family home for sale in Miami, FL 33136. This property was listed for sale on September 1, 2023 by New World Realty Group Inc, it's currently listed at $1,575,000. It has been on the market for a total of 242 days and was last sold on December 20, 2007. This listing's school district is Miami-Dade. Nearby schools include Phyllis Wheatley Elementary School, Air Base K-8 Center for International Education and Jose De Diego Middle School. 225 Northwest 16th Street is a 0-bed, 0-bath, 3,528 sqft multi-family home built in 1954.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of New World Realty Group Inc

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.