Description
Rare Urban Garden Apartment Community in the Heart of East Little Havana. Spanning 2.16 acres across two contiguous parcels totaling 79 units and 58,260 SF of building area, this community offers operational scale, enduring land value, & a residential character difficult to replicate in Miami's urban core. Presenting a rare opportunity to acquire a 79-unit garden apartment community spanning 2.16 acres an increasingly scarce combination of scale, land, & low-density residential character within Miami's urban core. Originally developed in 1947, the property consists of multiple residential structures in a garden- style setting distinguished by expansive open areas, mature landscaping, and generous green space. The property features a diversified unit mix of 29 two-bedroom residences, 46 one-bedroom residences, and 4 studio apartments, providing broad tenant appeal and durable leasing flexibility. The site's configuration and significant land component create a setting that is increasingly difficult to replicate under today's development conditions. With current in-place gross income of $1,336,754 and pro forma gross income of $1,990,800, the portfolio presents a compelling value- add opportunity with clear rent upside units currently average below market, offering an investor a 5.93% pro forma cap rate. Residents benefit from convenient access to employment centers while remaining immersed in the culture, dining, and everyday conveniences that define Little Havana.
Details
| MLS # | A12044485 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1947 |
| Days On Site | 53 |
| Listing Provided By | Fausto Commercial Realty Consultants Inc | Mauricio Villasuso |
Features
| SQ Feet | 58,260 |
|---|---|
| Units | 79 |
| Zoning | T4-R |
| Acreage | 94134.00 |
Area Information
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33130 |
| Area | 41 |
| Listing VS Median (in 33130) | |
Price: $18,500,000 low | high Med: $299,000 sqft: 58,260 low | high Med: 716 $ / sqft: $318 low | high Med: $418 On site: 53 low | high Med: 174 | |
Market Activity 33130
Request a showing
Request a showing
Contact
Learn More About This Property
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33130 |
| Area | 41 |
| Listing VS Median (in 33130) | |
Price: $18,500,000 low | high Med: $299,000 sqft: 58,260 low | high Med: 716 $ / sqft: $318 low | high Med: $418 On site: 53 low | high Med: 174 | |
