NOT ON MLS! Cheapest 4plex on Normady Isles!

[Lucas Machado]

Normandy Isles, Miami Beach, FL 33141 - $655,000

Contact me privately for complete address and additional information.

Cash Buyers or Private/Hard Money Only Please!

Square Footage - 3,000 sq ft

Floors - 1

Lot Size - 6,250 sq ft

Property Type - Multi Unit: 2x 1/1's & 2x 2/1's

NOT ON MLS! Cheapest fourplex available on highly sought after Normandy Isles. Fully rented for $4,700/mo. Leased through Aug/June/Oct 2016. 4 electric meters - tenants pay their own electric, landlord pays water. Doesn't need any work - turnkey investment.

Call, text, email, private message, or comment below if interested.

- 754-800-4743

- [email protected]

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[Lucas Machado]

@Chris Mora - Yeah, this isn't going to cash flow if you have a hefty mortgage on it...This kind of deal is really popular with foreign investors down here. Someone who just wants to park their money in something safe, easy...They prefer to buy something solid in a highly desirable area over something in a war zone that will give 2x-3x cap - less headache. A lot of those investors even buy stuff sight unseen - so they tend to go for better areas where that's less risky.

Short term even a 4-6% cap is ok with them, and they aren't going to get a mortgage so there's some cash flow too. This low cap is ok for a couple reasons: 1) in their country their money could be earning less, or maybe even losing value, and 2) for someone who might have a stock/mutual fund/bond portfolio, they are used to having diversity, not just a lot of high return investments. And yeah, longer term there's the added benefit of it being likely to increase in value since it's in a great area. It's also a lot sexier to say you own a 4plex in Miami Beach rather than I own a few whatevers in Liberty City ;)

This deal is certainly not for everyone - but then again I don't think any deal is. Show me a rental play in a great area with a 16% cap and I still won't want it for myself :)