220 SW 18th Ave, Miami FL 33135
Miami, FL 33135
$5,145,000
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- Price
- $5,145,000
- Building size
- 9,918
- Property type
- Income/MultiFamily
- Year built
- 1960
- Lot size (sq ft)
- 9,750
- MLS number
- A12099815
This listing is courtesy of APEX Capital Realty LLC, 305-570-2600.
About this property
220 SW 18th Avenue is a turnkey, fully occupied 21-unit multifamily investment opportunity located in the heart of Little Havana, one of Miami's most established rental markets. Originally built in the 1960s, the property offers investors the advantage of a newer vintage multifamily building compared with much of Little Havana's older 1920s and 1930s housing stock. The 9,918 SF building features a uniform unit mix of 21 one-bedroom/one-bathroom apartments, providing a simple and efficient configuration with consistent renter demand. The property is 100% occupied, generating $36,649 in monthly rent. The building also successfully completed its 40/50-Year Recertification in 2020. The property has been renovated and upgraded with impact windows, reducing near-term capital needs. Located just off West Flagler Street and minutes from Calle Ocho, loanDepot park, Downtown Miami and Brickell. Asking Price: $5,145,000 ($245,000 / Unit). Current Cap Rate: 7.03%.
Details
- Property type
- Income/MultiFamily
- Year built
- 1960
- Lot size (sq ft)
- 9,750
Location
Listing information is deemed reliable but is not guaranteed accurate by MIAMI REALTORS®.
Newmar Brokerage, LLC