Value-Add Multifamily Investment Opportunity
1761 Ali Baba Ave
Opa-Locka, FL 33056
Asking Price: $1,150,000
6-unit multifamily asset with strong rental upside, current 16.7% occupancy, and immediate repositioning potential.
Investment Snapshot
$1,150,000
Asking Price
6
Units
16.7%
Current Occupancy
7.54%
Projected Cap Rate
$86,697
Projected NOI
Executive Summary
1761 Ali Baba Ave presents a compelling value-add multifamily opportunity for investors seeking to renovate, lease up, and stabilize an underperforming asset in the Miami-Dade rental market.
- 6-unit multifamily asset.
- Only 1 of 6 units currently occupied.
- Month-to-month occupancy provides operational flexibility.
- Projected market rent of $1,950 per unit per month.
- Potential for forced appreciation through renovation and stabilization.
Offering Summary
| Address | 1761 Ali Baba Ave, Opa-Locka, FL 33056 |
| Asking Price | $1,150,000 |
| Number of Units | 6 |
| Building Size | 3,980 SF |
| Lot Size | 4,800 SF |
| Year Built | 1958 |
| Current Occupancy | 1 of 6 Units (16.7%) |
| Market Rent Potential | $1,950 / Unit / Month |
| Price Per Unit | $191,667 |
| Price Per SF | $288.94 |
Stabilized Pro Forma
| Income / Expense Item | Annual Amount |
|---|---|
| Gross Scheduled Income | $140,400 |
| Less Vacancy & Collection Loss (5%) | ($7,020) |
| Effective Gross Income | $133,380 |
| Estimated Operating Expenses (35%) | ($46,683) |
| Projected Net Operating Income | $86,697 |
| Projected Stabilized Cap Rate @ $1,150,000 | 7.54% |
Cap Rate Sensitivity
| Cap Rate | Projected NOI | Implied Stabilized Value |
|---|---|---|
| 5.5% | $86,697 | $1,576,309 |
| 6.0% | $86,697 | $1,444,950 |
| 6.5% | $86,697 | $1,333,800 |
| 7.0% | $86,697 | $1,238,529 |
| 7.5% | $86,697 | $1,155,960 |
| 8.0% | $86,697 | $1,083,712 |
Value-Add Business Plan
1. Renovate
Address vacant unit repairs and improve overall presentation.
2. Lease-Up
Target projected market rents near $1,950 per unit.
3. Stabilize
Improve occupancy, cash flow, operations, and tenant quality.
For More Information
Dennis Cordero, PA
LPT Realty
954-874-5015
MLS@RealHomeAdvisor.com
www.RealHomeAdvisor.com