Old Biscayne Villas — Sale in Homestead, FL

  • Price: $2K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Homestead, FL 33033
  • Year built: 2007

Photos

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Description

JLL is pleased to exclusively offer the opportunity to acquire 70 out of 114-units (61.4%) at Old Biscayne Villas , a value-add condominium community located in Homestead, Florida (Miami-Dade County). The offering is comprised of 70, 2- and 3-bedroom units which are averaging monthly rents of $2,078 ($1.94 PSF). The Buyer will inherit the Seller's complete control of the condominium association board, holding 100% of board seats (3 out of 3), allowing for absolute management control and flexibility to execute a value-add business plan creating significant mark-to-market rent growth potential. The Property benefits from convenient access to both Florida's Turnpike (96,200 VPD; 2-min drive) and US-Hwy 1 (39,000 VPD; 5-min drive) providing connectivity to Miami's most important employment hubs within a 30–45-minute drive. With the highest concentration of millionaires in the U.S. (Miami New Times), Miami has undergone a transformation that has come at a significant cost to its longtime residents. The sustained influx of highincome earning individuals has rendered the Magic City increasingly unaffordable to locals, who now find themselves priced out of historically middle-class neighborhoods where single-family homes command prices ~$1 million. This trend is reshaping the immediate area: within a 1-mile radius of the Property, population has increased 16% since 2020, with 35% of households earning over $100,000 annually.

Market Context

This multifamily in Homestead, FL is listed for sale at $2,078. The building dates to 2007. Compare it against other multifamily listings for sale in Homestead, FL — view the full market.

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