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 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). 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 had an average occupancy of 98 percent until its disposition in 2019.

GENERAL INFORMATION

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.

AMENITIES

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
Laundry facilities