22
$3,800,000 Sale
Listed 1 day
2822 Pine Tree Dr
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Key Facts
Key facts for 2822 Pine Tree Dr
Property Type
Apartment, Unspecified
Parking
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MLS #
A11886467
Size
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Basement
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Listed on
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Lot size
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Tax
$43,631 /yr
Days on Market
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Year Built
1935
Maintenance Fee
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Description
Noble Pine Tree Apartments is a unique investment opportunity for investors looking to enter the Mid-Beach market and own 12 operating residential units. All units are fully renovated, with most featuring new in-unit washer/dryers. The unit mix includes (1) two-bedroom, (5) one-bedrooms, and (6) stu...dios. The current average rent per unit is $2,175. Though there are 12 operating units, the building was originally constructed as 8 legal units. The property has been thoughtfully upgraded over time, with modern cabinetry, tile flooring, updated appliances, new vanities, lighting, countertops, and select kitchenettes. In-Place NOI: $223,472. In-Place Cap Rate: 5.88%. Building Size: 5,983 SF. Lot Size: 8,580 SF.
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Listing courtesy of: STL Advisors, LLC