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$5,200,000
Est. payment /mo
15,592 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 15,592 sqft
Price per Sqft $333
MLS Listing ID A12044489
HOA Y/N No
Year Built 1924
Lot Size 0.344 Acres
Property Sub-Type Multi Family
Property Description
Fully Renovated Two-Building Multifamily Portfolio in the Heart of Little Havana. Located on SW 7th Street in Little Havana, this two-building portfolio consists of 24 residential units situated on a 15,000 SF lot, delivering stable in-place income with a renovated, turnkey asset profile and no immediate capital expenditure requirements.
Both buildings underwent a comprehensive gut renovation in 2015, including new plumbing, updated electrical infrastructure, and reinforced floor structures. With a current gross income of $402,276 and a pro forma gross income of $590,400, the portfolio presents a compelling value-add story with clear upside through rental rate normalization — units are currently averaging below market rents, offering an investor the opportunity to capture a 6.68% pro forma cap rate.
Little Havana continues to experience strong rental demand driven by its central location and direct connectivity to Miami's major employment hubs, including Downtown Miami, Brickell, the Health District, Coral Gables, and Miami International Airport. The neighborhood's affordability relative to surrounding submarkets, combined with ongoing private investment and revitalization, creates a resilient and growing tenant pool for multifamily investors seeking stable long-term returns.
Both buildings underwent a comprehensive gut renovation in 2015, including new plumbing, updated electrical infrastructure, and reinforced floor structures. With a current gross income of $402,276 and a pro forma gross income of $590,400, the portfolio presents a compelling value-add story with clear upside through rental rate normalization — units are currently averaging below market rents, offering an investor the opportunity to capture a 6.68% pro forma cap rate.
Little Havana continues to experience strong rental demand driven by its central location and direct connectivity to Miami's major employment hubs, including Downtown Miami, Brickell, the Health District, Coral Gables, and Miami International Airport. The neighborhood's affordability relative to surrounding submarkets, combined with ongoing private investment and revitalization, creates a resilient and growing tenant pool for multifamily investors seeking stable long-term returns.
Location
State FL
County Miami-dade
Area 41
Exterior
Private Pool Yes
Others
Tax ID 01-41-02-006-6020
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12044489
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Listed by Fausto Commercial Realty Consultants Inc
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