Brickell Condo Investor deals

The words positive cash flow and Brickell condos were two words usually never uttered in the same sentence until recently. There are few buildings, which can still boast this claim, but one building which investors seemly love is The Club at Brickell Bay. There are many attributes which make this a great buy looking at it through investors eyes, the first being its stellar location in the heart of Brickell Miami’s financial artery. Brickell is a high rent district, with rents steadily rising due to inventory being quickly absorbed by large influx renters. The renters in Brickell tend to be more on the professional side, being surrounded by employers from large international corporations and hospitals. There is also a large influx of buyers due to the incredible purchase deals. The South American’s have been a driving force in Brickell’s new renaissance.

One great deal in Brickell condos is the approved short sale at The Club at Brickell Bay unit 2421 for $125,000. It has all the markings of a great steal for investors. The first is it already has income of $1500 a month with a highly desirable professional tenant. The Club at Brickell Bay is lease friendly being zoned hotel/condo. If you look at carrying cost for this unit they are minimal, with the yearly taxes being $1980 and the association fees of $460 a month. The association fee includes insurance, cable, water and Internet, which will reduce a tenant having to hookup some services. It is a remodeled unit with parquet flooring throughout, 2 marble walls, stainless steel appliances and black galaxy counters. It has a partial bay and city views from balcony and is a large one bedroom at 850 sqft under AC, plus 150-sqft balcony. There are two walk-in closets and has entry to the balcony from both the living room and bedroom. All windows and sliding doors are high impact hurricane resistant glass. This unit has one coveted reserved corner parking spot. It is a full service building with valet and front desk 24-hour reception check-in for guests. It also has two pools, hot tub and gym. The building has secure electronic keyed access to enter elevators and garage.

Nestled in the middle of Brickell, which is Miami’s financial hub and within walking distance to Mary Brickell Village, you can’t beat this condo deal. This is the lowest priced unit in the building and the bank is taking nearly a $200,000 loss. This a great deal whether you are an investor or just a buyer looking for a steal.