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1/5
225 NW 16th St, Miami, FL 33136
$1,575,000
225 NW 16th St, Miami, FL 33136View this property at 225 NW 16th St, Miami, FL 33136
225 NW 16th StMiamiFL33136
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1/5
Property Description
Presenting 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.
Full Property Details
Full Property Details for 225 NW 16th St
General
- Price: $1,575,000
- Taxes: $5,578 (2022)
- Status: Active
- Type: Apartment
- MLS ID: A11442506
- Updated: 5/31/2024
- Added to Site: 287 day(s) ago
Business
- Business Type: Apartments, Residential-Multi-Family
Interior
- Flooring: Tile
Additional Information
- Security/Safety: Security Fence
Location
- County: Miami-Dade County
Community
- Units Assoc/Comm: 1
Heating & Cooling
- Heating Type: Wall/Window Units
Utilities
- Sewer: Public Sanitation
- Water: Public
Structural Information
- Structure Type: Free Standing
- Detached/Attached: Detached
- Building Size: 1
- Year Built: 1954
Unit Information
- Units in Complex: 1
Lot Features
- Lot Size (Sq. Ft.): 6,250
- Lot Features: Central Business District, City Location
- Zoning: 6107
Financial Considerations
- Tax Amount: $5,578
- Tax Year: 2022
- Terms: All Cash, Assumable, Owner Will Carry
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3%
- Special Conditions: Sale
- Legal Description: ERICKSONS SUB PB B-88 LOT 11 BLK 12 LOT SIZE 50.000 X 105 OR 22659-3138 072004 6 COC 26147-3149 12 2007 1
- Inclusions: Building & Land
- Property ID: 01-31-36-021-1710
Listed by New World Realty Group Inc
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Schools
Schools serving 225 NW 16th St
School District:Miami-Dade County School District
Rating | Name | Grades | Distance |
---|---|---|---|
1801 Nw 1st Pl, Miami, FL 33136 | PK-5 | 0.2 mi | |
12829 Sw 272nd St, Homestead, FL 33032 | PK-8 | 22.7 mi | |
3100 Nw 5th Ave, Miami, FL 33127 | 6-8 | 1.1 mi | |
1200 Nw 6th Ave, Miami, FL 33136 | 9-12 | 0.4 mi | |
Robert Morgan Educational Center and Technical College
18180 Sw 122 Avenue, Miami, FL 33177 | 9-12 | 17.8 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 225 NW 16th St
Date
Details
Price
Change
Source
1/24/2024
Price Reduced
$1,575,000
-1.56%
MLS
8/24/2023
Listed
$1,600,000
451.72%
MLS
12/20/2007
Sold
$290,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 225 NW 16th St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$6,816
28%
$401,809
60%
2021
$5,334
-4%
$251,066
-7%
2022
$5,578
5%
$270,581
8%
2021
$5,334
9%
$251,088
10%
2019
$4,885
7%
$228,848
5%
2018
$4,574
2%
$218,370
—
2017
$4,489
4%
$218,391
15%
2016
$4,304
7%
$189,753
10%
2015
$4,034
13%
$172,503
10%
2014
$3,562
-2%
$156,821
10%
2013
$3,639
—
$142,565
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 225 NW 16th St
225 NW 16th St, Miami, FL 33136 (MLS# A11442506) is a Apartment property. 225 NW 16th St is currently listed for $1,575,000 and was received on August 24, 2023. Want to learn more about 225 NW 16th St? Do you have questions about finding other Apartment real estate for sale in Miami? You can browse all Miami real estate or contact a Coldwell Banker agent to request more information.