515 Catalonia Ave, Coral Gables FL 33134

Description

Unique opportunity to own a 5-Unit Old Spanish building in the heart of Coral Gables. Units are in turnkey condition with fantastic Gables charm. 2, detached 2-story buildings with 5 separately metered apartments; Four 1 bed 1 bath and One 1 bed plus den/closet utilized as 2nd bedroom. Excellent Location short walk to Coral Gables Youth Center, Miracle Mile, Biltmore, Venetian Pool and Merrick Park. Building is fully leased. Above market 5.1% Cap rate based on actual(current) Income & expense. $83,640 Gross Income, $24,903 Total Expenses and $58,737 NOI(See attached income/expense analysis). Passed 40 Year inspection in 2016.