162 NE 186 Terrace, Miami, FL 33179
Price is firm on this property Serious investors only please
Lovely cash cow duplex located in the beautiful city of Miami! This property consists of 2 units! Unit 1 is a 2/1 and Unit 2 is a 3/2, totaling 5 bedrooms and 3 baths with Central Air Conditioning. This property sits a few minutes away from highways, local restaurants, fitness centers, and Florida’s sunny beach! With some rehab, this property makes an excellent investment and a wonderful opportunity to earn additional income!
Important Details / Seller Notes
Currently Occupied. Access to house very limited. Contact agent.
Current Rent $2,050.00; Estimated Rent $3,000.00
Deposit Required $10,000.00
***Buyer agrees to assume property with current occupants. Tenant estoppel letter and lease will be provided prior or at closing
*** Owner pays water. Tenants on separate electric meters.
Unit 1: 2/1 pays $1,200/month. $800 security deposit.
Unit 2: 3/2 pays $805/month. $600 security deposit.
COMPS: 18500 NE 1st Ct – Duplex 3/2 & 2/2 with 1,711 sq/ft Updated – Comp Sold 06/2018 $308k
Both units are in good rental condition and other cosmetic updates are optional. For a flip, Unit 1 the kitchen and bathroom should be updated and a fresh coat of interior paint should be applied. For unit 2, a fresh coat of interior paint is needed. To finish up, this property will need some landscaping and exterior paint.