871 SW 3rd St, Miami FL 33130
Miami, FL 33130
$5,400,000
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- Price
- $5,400,000
- Building size
- 11,700
- Property type
- Income/MultiFamily
- Year built
- 1925
- Lot size (sq ft)
- 5,000
- MLS number
- A12099896
This listing is courtesy of APEX Capital Realty LLC, 305-570-2600.
About this property
871 SW 3rd Street is a 100% occupied, 24-unit multifamily investment in East Little Havana. All 24 one-bedroom, one-bath apartments are leased at an average in-place rent of $1,685 per month: income from day one, no lease-up, no downtime. The existing financing is assumable at a rate below 6% with about four years remaining, so a buyer steps into in-place debt. The 40-year recertification is complete. East Little Havana is one of Miami's most vibrant, culturally rich neighborhoods, set between the Little Havana core and Brickell, minutes from Downtown Miami and the Miami River. Steady demand for well-located workforce housing keeps occupancy high. Asking Price: $5,400,000 ($225,000 per unit). 5.92% cap rate on reassessed NOI.
Details
- Property type
- Income/MultiFamily
- Year built
- 1925
- Lot size (sq ft)
- 5,000
Location
Listing information is deemed reliable but is not guaranteed accurate by MIAMI REALTORS®.
Newmar Brokerage, LLC