About
About The Shenandoah
Cushman & Wakefield, as exclusive advisor, is pleased to present a multifamily investment opportunity to acquire The Shenandoah (the “Property”) – a 24-unit, fully renovated residential asset in the heart of Miami, Florida.
All 24 units are two bedroom/ one bathrooms and have recently been gut renovated with high end finished. Current ownership spent over $2.4 million in improving the property in 2020. This includes hurricane impact windows, new electrical/plumbing, complete interior renovations with new tile flooring, granite counter tops/new kitchen cabinets, stainless steel appliances, and new glass shower tubs and vanities security cameras/ secured building access, exterior paint and resealing/striping parking area. Roads were replaced in 2014. The property offers an onsite laundry facility as well as a leasing office.
The property is 100% occupied. The current gross income at the property is $460,980. New construction two-bedroom units in the immediate rent up to $1,756 and average rents in the submarket are $2,298 with two bedrooms averaging $2,516.
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