Windsor House Apartments 1401 SW 67th Ave Immeuble residentiel 60 lots 11 890 338 € (198 172 €/Lot) Taux de capitalisation 4,81 % Miami, FL 33144

The Windsor House Apartments is a 60-unit multifamily building located in the City of West Miami in Miami-Dade County, Florida. The community is made up of nine junior one-bedroom units at about 365 square feet, 36 one-bedroom and one-bathroom units at about 500 square feet, 14 two-bedroom and one-bathroom units at about 600 square feet and one three-bedroom and one-bathroom units at about 750 square feet. The community was developed in 1965 of concrete block construction with stucco and brick exteriors and is situated on a 1.64-acre site. Water, sewer and trash removal are included in the rent.
The community has ample off-street parking, large laundry facility, sparkling pool with sun deck and dedicated bathroom facilities. The property has been under the current ownership for over 40 years and the owners have maintained the property in good condition. Over the years the units have been converted from wall units to central air-conditioning and heat. The pool has been updated and parking lots have been repaved and the roof had been replaced in 2018. The owners also completed the 40/10-year recertification in 2021.
The Windsor House Apartments is in a highly desirable location with direct frontage on Ludlam Road (SW 67th Ave) in West Miami, Florida. West Miami is a quaint bedroom community in Miami-Dade County that covers approximately 455 acres. The property encompasses an entire city block and sits on the west border of the city of West Miami. Behind the property is a residential neighborhood with tree lined streets and houses selling for just under $1,000,000. Along Ludlam Road there are retail and other commercial uses as well as multifamily buildings including several projects that had been developed over the past ten years.
An investor has the opportunity to increase the rental rates and add value through updating the community and interiors of the units. There is also the potential to redevelop the site down the road due to its location and the fact it occupies an entire city block.