7155 Miami Lakes Drive, Unit P4Miami Lakes, FL 33014Price: $245,000

Unit P-04 is a first-floor unit at Cypress Village, one of the most in-demand floor positions in the community for rental purposes. At 544 SF, this one bedroom, one bathroom unit is priced at $245,000 with an HOA of $385.90 per month. This is a great opportunity for an investor or an owner-user looking to occupy the unit while building equity. The unit can be rented in the first year of ownership and leases are required to be annual. The current occupant vacates February 28th and financing is limited to cash or conventional only. For investors, running the numbers with only property tax and HOA as expenses yields approximately a 6% cap rate. The unit comes with one assigned parking space (Space 706) and there is ample guest parking available throughout the community. Shared laundry facilities are available to all residents. Community amenities include two pools, a tennis court and a clubhouse available for private gatherings. The association maintains healthy reserves, has not been assessed recently, and has no pending or current assessments. The property is well managed, helping ensure owners avoid unexpected additional costs. The location is a major advantage. Cypress Village is within walking distance to Publix, multiple banks, Main Street dining, hair salons, a movie theater, shops and more. Shula's Gym is also nearby, making this an ideal location for everyday convenience.