FLAMINGOAPARTMENTSMIAMIBEACHFLORIDA

PRICINGANDFINANCIALANALYSIS

PRICE $1,299.000

DOWPAYMENT 100%/$1,299.00

PRICE/UNIT $162,375

PRICE/SF $247.42

NUMBEROFUNITS 8

NUMBEROFBUILDINGS 1

NUMBEROFSTORIES 2

YEARBUILT 1940

LOTSIZE 5,250SF

OFFERINGSUMMARY

No.OFUNITS

UNITTYPE APPROX.SQUAREFIT

CURRENTRENTS

MONTHLYINCOME

4 STUDIO1BATH 490 $1,000$1,100 $4,300

4 1BDR1BATH 600 $1,100$1,250 $3,500

8 TOTOAL 4,368

UNITMIX

UNITNUMBER

UNITTYPE UNITSF CURRENTRENT

1 1BDR 1BATH 600 $1,150

2 1BDR 1BATH 600 $1,250

3 STUDIO 1BATH 490 $1,100

4 STUDIO 1BATH 490 $1,000

5 1BDR 1BATH 600 VACANT

6 1BDR 1BATH 600 $1,100

7 STUDIO 1BATH 490 $1,200

8 STUDIO 1BATH 490 $1,000

8 TOTAL OCCUPIED 4,360 $7,800

8 TOTAL 4,360 $7,800

RENTROLL

EXPENSES CURRENT PERUNITRealStatetaxes $14,590.83 $1,823.85

Insurance $6,000 $750

WasteService $2,292 $286

WaterandSewer $5,590 $698

Landscaping

$900 $112

FPL $168 $21

PestControl $312 $39

TOTALEXPENSES

29,852.83 3729.83

FINANCIALOVERVIEW

LOCATION

7124BayDriveMiamiBeach,FL33141

Price $1,299.000

NumberofUnits 8

Price/Unit $162,375

RentableSquareFeet 4,368

Price/SF $247.42

YearBuilt 1940

LotSize 5,250SF

TypeofOwnership FeeSimple

PROPERTYDESCRIPTION

InvestmentHighlights•  ExcellentMiamiBeachLoca_on•  CloseProximitytoNormandyAreaShopsandDining•  LessthanTwoMilesfromtheAtlan_cOcean•  QuickPublicTransporta_onAccess•  MinutesfromSouthBeach,BalHarborandSunnyIsles•  HistoricallyHighOccupancyRatesinMiamiBeach•  FullyOccupiedBuilding•  Par_allyRenovatedProperty(40YearCer_fica_oninPlace)

INVESTMENTOVERVIEW

GolodGroupispleasedtopresentforsale7124BayDrive,aneight-unitapartmentbuildinglocatedinMiamiBeach,Florida.Propertyiscomprisedoffourone-bedroom/one-bathunitsandfourlargestudio/one-bathunits,approximately4,368squarefeetofrentablespacethatsitsona5,250-squarefootlot.ApartmentbuildingresidesintheheartofNorthBeachandprovidesexcep_onalaccesstoemployment,localschools,neighborhoodservices,entertainment,shoppingandthebestFloridabeaches.Publictransporta_onisavailableminutesawayfromthebuilding.BuildinglocatedonthecornerofBayDriveandMarseilleDrive,onNormandyIsland,oneblocknorthofhighlytrafficked71StreetandlocatedstepsawayfromNormandyCircle.NormandyIslandinMiamiBeachisahighlydesirable,sought-agermarketplacethathasseenrisingrentalratesandpropertyvalues.This,coupledwiththeevolu_onofthetowncenter,increasedtourism,andnewconstruc_onputsthison any investors’ radar. Building represents an excellent opportunity to purchase a stabilized asset in a highly compe__veMiami Beachapartmentmarketwithhistoricallyhighoccupancyratesanddemand.

PROPERTYSUMARY

THEOFFERINGProperty FlamingoApartments

PropertyAddress 7124BayDriveMiamiBeach,FL33141

Zoning Mul_family/Office

SITEDESCRIPTION

NumberofUnits 8

NumberofBuildings 1

NumberofStories 2

YearBuilt 1940

RentableSquareFeet 4.368

LotSize 5,250SF

TypeofOwnership FeeSimple

Density Medium

Parking OffStreet

Water PaidbyLandlord

Phone PaidbyTenant

Electric PaidbyTenant

Gas PaidbyLandlord

UTILITIES

CONSTRUCTION

Founda_on ConcreteBlock

Exterior ConcreteStucco

Roof WhiteBarrelTileRoof

MECHANICAL

HVAC WallUnits

PROPERTYPHOTOS