RIVERWALK II APARTMENTS
Riverwalk II Apartments is a 112-Unit Community located in Homestead, Florida, approximately 30 minutes south of the city of Miami. The property sits on 8.2 acres, with a central lake and offers great amenities and full renovated unit interiors.
Treevita Group acquired this asset on 2013 and invested more than $2.8 million in redeveloping the property and repositioning it within its submarket. The project was developed under a Land Use Restriction Agreement (LURA) with construction financing provided by Florida Housing Finance Agency. Consistent with LURA requirements, approximately 80 percent of the property's units were set aside and rented to tenants who earn no more than 60 percent of the area median income (AMI).
Treevita's Management team provided steady and reliable income from operations and the property has had an occupancy of 98 percent until its recent disposition.
Treevita Group acquired this asset on 2013 and invested more than $2.8 million in redeveloping the property and repositioning it within its submarket. The project was developed under a Land Use Restriction Agreement (LURA) with construction financing provided by Florida Housing Finance Agency. Consistent with LURA requirements, approximately 80 percent of the property's units were set aside and rented to tenants who earn no more than 60 percent of the area median income (AMI).
Treevita's Management team provided steady and reliable income from operations and the property has had an occupancy of 98 percent until its recent disposition.
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GENERAL INFORMATION
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AMENITIES
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LOCATION
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Units: 112
Asset type: Multifamily Floor breakdown: 1 bedroom / 1 bath, 2 bedrooms / 1 bath, 3 bedrooms / 2 baths Gross area: 8.19 acres of land Net rentable area: 103, 200 Sq. Ft. |
Unit:
Air conditioning, central A/C Private Patio or balcony, tile floors, walk in closets Disposal Site: Swimming pool, lake, playground Lush landscaping Clubhouse - administrative office Outdoor Fitness Equipment Property Manager on site New laundry facilities |
301 SE 6th Avenue Homestead, Fl
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