$2,050,000121 days on marketActive

525 SW 1st Avenue, Homestead, FL 33030

Homestead, FL 33030

Sq Ft

1973

Year Built

0.33 acres

Lot Size

Listing Snapshot

List Price	$2,050,000
Beds	0
Baths	0
Living Area	0 sqft
Lot Size	0.33 acres

Year Built	1973
Property Tax	$28,906/yr
MLS #	1157547882
Status	Active
Days on Market	121

About This Home

525 SW 1st Avenue is a 12-unit building located in Homestead, FL. The property is made up of 12 expansive 802 SF 1 bedroom 1 bathroom apartments with walk in closets, full size kitchens formal dining and living areas. The units all feature central air conditioning along with impact windows and doors. These spacious units provide an owner with long term tenants and excellent average rent of $1,560. The property ais up to date with the 40-year recertification through the City of Homestead . This asset allows an investor to step in to an asset that is producing excellent cashflow along with some rental upside through more section 8 tenants and other potential strategies. The new owner of the property will be stepping into a building with excellent in place cashflow but will still have some rental upside. The building is well suited for section 8 and market rate tenants with the significant amount of employment in South Dade and the Florida Keys. These units provide essential workforce housing in a high occupancy market and will standout amongst rental product available in the area due to size and condition. Area rents are continually increasing as the demand for affordable housing expands throughout South Florida.