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$1,450,000

Beds
7
Baths
7.0
sq ft
2,728

955 79th Ter, Miami Beach, FL 33141

955 79th Ter

MIAMI BEACH, FL 33141

  • 142 days on market
    • Price drop $200,000↓
Excellent opportunity for investors or for a family that wants to have their own home and additionally generate income that allows them to pay their mortgage. This multi-family residence has a main house with 3 bedrooms and 2 bathrooms with tile floors throughout the house, and also has 4 apartments with 1 bedroom, 1 bathroom each, with tile floors in each of the apartments; which can generate income of up to more than $14,000.00 dollars per month, since in total this property has 7 bedrooms and 7 bathrooms. In addition this property has a large terrace to enjoy a good barbecue, it a large storage room, and a full bathroom on the terrace. This multi-family residential is close to all the attractions that Miami Beach offers: restaurants, businesses, pharmacies, supermarkets, hospitals, schools, recreation and entertainment areas such as: beaches, the famous Normandy Shores Island, Indian Creek Island, Newport Fishing Pier, Haulover Beach, Miami Beach Botanical, Garden, North Shore, Park Beach, The Bass, has bike paths, views of the Multi-million dollar waterfront home; In short, in an excellent location with everything nearby to carry out any project you have in mind. In addition, this property does not have any type of restriction or HOA, an excellent and unique opportunity for rentals of all types. It has 3 parking spaces inside the property and 3 more in front of the house. Come see this excellent investment property and generate additional income. HVAC 2023, Hot Water Heater 2011 and Roof 2012. Enthusiastic seller, send your offer. Security cameras throughout the perimeter of the property.

Details

Property type

Single Family Residence

Lot size

5,650 sq ft

Price per sq ft

$532

Year built

1997

Annual property taxes

$3,694.92

Price History

06/29/2024
StellarMLS

StellarMLS #OM672927

Price change
$1,450,000
-12.12%
02/16/2024
StellarMLS

StellarMLS #OM672927

Listed
$1,650,000

Schools & Community

Neighborhood: 

Biscayne Point

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$1,243,525
Asking price
$1,450,000
Closing costs (~8% of asking)
-$116,000
Est. remaining loan balance
-$90,475
Cash to seller
$1,243,525

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

American Bancshares Mortgage Llc

Loan start date

March 2013

Original loan amount

$122,100

Est. remaining balance

$90,475

Interest rate

3.53%

Loan type

FHA, 30 year

Seller

Benny Argota and Junior Encarnacion

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 07/07/2024 at 6:00 PM

Listing updated: 06/29/2024 at 2:06 PM

Listed by: Rosario Cornman, LPT REALTY Phone #: (877) 366-2213

MLS: StellarMLS #OM672927

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