Cash Flow Oasis: MiMo Gardens – 5 Fully Renovated Units Ready for Investment
Miami’s Upper East Side, also known as the MiMo District, is a treasure trove of vintage charm, and nestled within it is a gem of an investment opportunity: MiMo Gardens. This fully renovated, turnkey multifamily building, with its prime location and enticing features, is your gateway to a prosperous real estate investment in Miami.
MiMo Gardens enjoys a prime location near Biscayne Boulevard, putting you at the heart of the action in one of Miami’s most sought-after neighborhoods. Restaurants, shops, cultural attractions, and beautiful parks are all just a stone’s throw away.
This classic 1950s building has been meticulously restored to its former glory. The restoration combines the charm of a bygone era with modern amenities, making it an attractive choice for tenants seeking character and comfort.
✓ Diverse Layouts for Steady Income (1 1 Bed, 1 2 Beds, 3 Studios)
MiMo Gardens offers a variety of unit layouts, including one-bedroom, two-bedroom, and studio apartments. This diversity ensures a steady income stream, appealing to a broad range of tenants in the vibrant MiMo District.
✓ Expansive Lot with Extra Unit Potential
The property features an expansive lot, providing the potential for future expansion or the addition of extra units, further increasing your investment’s value.
✓ Proforma NOI $84,000; Asking Price $1,395,000
With a projected Net Operating Income (NOI) of $84,000, MiMo Gardens offers an attractive income potential. The asking price of $1,395,000 presents a compelling investment opportunity in the thriving Miami real estate market.
✓ Seller Financing Available
Invest with ease as seller financing options are available. This flexibility can make acquiring MiMo Gardens more accessible, allowing you to maximize your real estate portfolio.
✓ Laundry in Units
Modern convenience meets classic charm with in-unit laundry facilities, providing added appeal to prospective tenants and increasing your property’s marketability.
✓ 5 Units, Gated Parking
MiMo Gardens features five units, ensuring manageable property management while still offering an excellent income potential. Gated parking provides security and convenience for tenants.
✓ Zoning Allows Expansion
Take advantage of zoning that permits expansion, offering future growth opportunities and increased property value.
✓ Short-Term Rentals Permissible
The flexible zoning regulations also allow for short-term rentals, catering to the growing demand for vacation and business accommodations in Miami.
✓ 40-Year Certification in Place
Rest easy knowing that MiMo Gardens is fully compliant with the 40-year certification requirements, ensuring the property’s structural integrity and your investment’s longevity.