1714 SW 11 TERRACE

1714 SW 11th Terrace is an eight-unit, two-story apartment building in Shenandoah, between Calle Ocho and Coral Way, and 6 minutes from Brickell.
All eight one-bedroom units are leased, with $143,100 of annual rent in place. In-place rents run $1,450 to $1,550 and average $1,491. Three of the eight units already rent at $1,550; bringing the other five to the rent the building has already achieved takes income to $148,800 and NOI to $112,796, a 7.05% yield at the offering price.
The offering price is $200,000 per unit and $300 per square foot. The three recorded sales of 1920s apartment buildings within 940 feet closed between $205,000 and $225,000 per unit.
The building has completed its 50-year milestone recertification and carries no open code violations. Water runs on a single master meter paid by ownership, with no bill-back to residents; that recovery is not included in the figures shown.