THE KENSINGTON CONDOMINIUM PORTFOLIO

Joseph Thomas, Alec Demetriou and the Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale The Kensington Condominium Portfolio, a portfolio consisting of 29 (out of 258 total) condominiums located in Hialeah, Florida.

SUBJECT PROPERTY

This offering includes 29 condominiums out of 258 units (11.2% ownership) within The Kensington Condominiums.  Kensington Condominiums were built between 1969-1971 and consist of (3) three-story buildings on a 6.6-acre 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 29 units being offered for sale in this portfolio total 19,026 square-feet with (26) one-bedroom | one-bathrooms measuring 583 square feet at an average in-place rent of $1,733 per month and (3) two-bedroom | two-bathrooms measuring 915 square feet at an average in-place rent of $1,950 per month.  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, large courtyards, and ample parking for residents and guests.

LOCATION

The Kensington Condominium Portfolio is located at 1230-1330 West 54^th Street in Hialeah, Florida, a few minutes east of the Palmetto Expressway (826) and north of West 49^th Street.  Nearby points of interest include Sparks Park (0.4 miles), Bank United (0.6 miles), Westland Mall (0.6 miles), Pet Supermarket (0.7 miles), Publix Supermarket at Hialeah Mercado (0.8 miles), CVS Pharmacy (0.8 miles), Westland Commons (0.9 miles), Home Depot (0.9 miles), Aldi (1.0 miles) and McDonald Water Park (1.5 miles). Additionally, just a short drive from the property is Amelia Earhart Park (2.9 miles), Hialeah Park Casino (3.7 miles), Miami-Opa Locka Executive Airport (4.8 miles) and Miami International Airport (7.0 miles).

Nearby educational facilities include Palm Springs Middle School (0.4 miles), M.A. Milam K-8 Center (0.8 miles), Miami Dade College Hialeah Campus (1.3 miles), Hialeah-Miami Lakes Senior High School (1.9 miles) and Hialeah Senior High School (2.8 miles).

SUMMARY

The Kensington Condominium Portfolio is being offered for sale at $5,800,000 or $200,000 per unit.