17050 Northwest 55th Avenue

Miami Gardens, FL 33055

Listing ID: 214618
$2,850,000
For Sale
  • Property Type Multifamily
  • Lot Size Acres 0.696
  • Building Sq Ft 15,506
  • Building Price per Sq Ft $183.80
  • Land Sq Ft 30,311
  • Land Price per Sq Ft $94.03
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Description

Fausto Commercial is pleased to present the Barbella Gardens Apartments at 17050 NW 55th Avenue in Miami Florida. This is an 11-unit apartment community located in the city of Miami. The property consists of 8 three-bedroom/two-bathroom apartments and 2 two-bedroom/one-bathroom apartments units totaling 15,506 Square Feet. This property was built in 1994 and it is fully renovated. It’s situated on a 30,311 Square Feet of land. The property is being offered for sale at $2,850,000 representing a 3.77% cap rate based on current in-place income which is significantly under market. After increasing rents to market average, the year one cap is expected to rise to 5.33%. The three-bedroom/two bathroom are renting in the area between $1,700 and $1,800 and the two-bedroom/one-bathroom are renting for $1,500.

?These beautiful apartments feature titles throughout, updated kitchens, updated bathrooms, stainless steal appliances and central A/C. The building is centrally located near Miami Lakes, walking distance from the YMCA, shopping centers, Palmetto Expressway, I75 and Turnpike.

Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population17,501185,308536,702
Population Median Age403939
Population by Age0-9 Yrs1948 (11%)22115 (11%)61529 (11%)
10-19 Yrs2114 (12%)23102 (12%)65611 (12%)
20-29 Yrs2234 (12%)24654 (13%)72697 (13%)
30-39 Yrs2596 (14%)25269 (13%)73046 (13%)
40-49 Yrs2237 (12%)28010 (15%)78709 (14%)
50-59 Yrs2344 (13%)24030 (12%)74413 (13%)
60-69 Yrs1946 (11%)18686 (10%)53154 (9%)
70+ Yrs2082 (11%)19442 (10%)57543 (10%)
Median HH Income$45,479$47,952$48,665
Total Household Income< 24K1368 (24%)14798 (25%)43131 (26%)
25-49K1726 (31%)14768 (25%)40755 (24%)
50-74K977 (17%)10499 (18%)30509 (18%)
75-99K855 (15%)6879 (12%)19753 (12%)
100-199K594 (10%)8377 (14%)25778 (15%)
200K+40 (0%)1785 (3%)4176 (2%)
Highest Education LevelNo Diploma25572583674236
Diploma or GED425941982124868
Some College17702057062174
Assoc. Degree10491258636656
Bachelors Degree17871737650026
Higher Degree786898425523
Total Housing Units5,97260,392174,053
--Owner-Occupied3,00332,09493,535
--Renter-Occupied2,55725,01370,567
Owner-Occupied Values< 100K13529168005
100-199K1071930927695
200-299K1136984129015
300-399K645556818006
400-499K1621916350
500K+122704464
Total Working Age Population14,435149,124435,342
In Work Force8,39192,247271,623
Not In Work Force6,04456,877163,720
Workforce Employed8,04887,154256,898
Workforce Unemployed3435,04414,463
Civlian Workforce8,39192,199271,361
Military Workforce049262
Total Households5,55957,107164,102
Family Households4,15241,994121,617
Non-Family Households1,40715,11342,485
Married Couple2,48225,28072,592
Other Family1,67016,71449,024
Married w/Child1,02710,39828,037
Single Male w/Child1071,4274,482
Single Female w/Child4185,93917,187

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Florida15,982,378+1818,801,310+1421,517,610+1324,340,457
Broward County1,623,018+81,748,066+111,942,686+92,120,334
Miami-Dade County2,253,362+112,496,435+152,861,579+113,190,242

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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