Commercial Real Estate

CommercialSaleMultifamilyFLMiami931, 3rd St, Miami, FL, 33130

Basics

  • Category:
  • Type:
  • Status:
  • Bathrooms: 0
  • Lot size: 94134, 94134 sq ft
  • Year built: 1947
  • County: Miami-Dade
  • MLS ID: A12044485

Description

  • Description:

    RIVERVIEW PB 5-43 LOT 3 & E31FT OF LOT 4 & ALL LOTS 12 THRU 20 BLK L OR 19521-3874 0201 2 (2) 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.

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Building Details

  • Structure Type: Apartment
  • Covered Spaces: 0

Miscellaneous

  • List Office Name: Fausto Commercial Realty Consultants Inc

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This -type commercial real estate is located in 931, 3rd St, Miami, FL, 33130 was built in 1947, and is listed at $18,500,000.

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