VALENCIA TOWERS CONDOMINIUM PORTFOLIO

The Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Valencia Towers Condominium Portfolio, consisting of 7 condominiums (out of 96 total) located at 6060 West 21st Court, Hialeah, FL 33016. 

SUBJECT PROPERTY

This offering includes 7 condominiums within the Valencia Towers Condominiums, which were built in 1991 and consist of (2) six-story buildings on a 127,397 square-foot lot, according to the Miami Dade County Property Appraiser.  The buildings feature concrete-block and stucco exterior walls with flat roofs and central air conditioning.  The 7 units being offered for sale in this portfolio total 6,112 square-feet with (2) one-bedroom | one-bathrooms measuring 700 square feet at an average in-place rent of $1,775 per month, (3) two-bedroom | two-bathrooms measuring 850 square feet at an average in-place rent of $1,950 per month and (2) three-bedroom | two-bathrooms measuring 1,081 square feet with an average in-place rent of $2,225.  Typical units have not been recently updated and feature ceramic tile flooring, white appliances and electric or gas stoves.  Community amenities include secure gated access, laundry facilities and ample parking for residents and guests.

LOCATION

The Valencia Towers Condominium Portfolio is located at 6060 West 21st Court in Hialeah, Florida, a few minutes east of the Palmetto Expressway (826) and north of West 49th Street along W 21st Court.  Nearby points of interest include Bucky Dent Park (0.5 miles), Publix Supermarket at Hialeah Mercado (0.6 miles), Palmetto General Hospital (0.7 miles), CVS Pharmacy (0.8 miles), Westland Mall (0.9 miles), Sedanos at El Paraiso Shopping Plaza (1.1 miles), Westland Commons (1.5 miles), Home Depot (1.7 miles) and Aldi (1.8 miles).  Additionally, just a short drive from the property is McDonald Water Park (2.1 miles), Amelia Earhart Park (3.7 miles), Hialeah Park Casino (5.2 miles), Miami-Opa Locka Executive Airport (7.2 miles) and Miami International Airport (9.8miles).

Nearby educational facilities include Ben Sheppard Elementary School (0.6 miles), Jose Marti MAST 6-12 Academy (0.7 miles), M.A. Milan K-8 Center (0.9 miles), Miami Dade College Hialeah Campus (1.6 miles), Palm Springs Middle School (1.7 miles) and Hialeah-Miami Lakes Senior High School (2.5 miles).

SUMMARY

The Valencia Towers Condominium Portfolio is being offered for sale at $1,680,000 or $240,000 per unit, which is a 6% current capitalization rate.