871 SW 3rd St, Miami FL 33130

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.

Property Details

Property Type

Income/MultiFamily

Status

Active

MLS #

A12099896

Building Area

11,700 SF

Lot Size

5,000 SF

Year Built

1925

Zoning

3900

Days on Market

1

Price

$5,400,000