Fausto Commercial is pleased to present the Sea Breeze Apartments at 1 NE 78th Street in Miami Florida. This is a 13-unit apartment building located in the Upper East Side neighborhood of Miami. The property consists of 10 one-bedroom/one-bathroom units and 3 Studios totaling 7,496 rentable square feet. This property is a 1970's vintage and fully remodeled in 2019-20 including all impact windows. It’s situated on a 13,063 Sq Feet of T6-8-0 land. The property is being offered for sale at $2,200,000 representing a 5.61% cap rate based on current in-place income. After increasing rents to market average, the year one cap is expected to rise to 7.78%.
The Sea Breeze Apartments is located near 79th Street and North Miami Avenue, two major thoroughfares in Upper East Side.
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