964 SW 3rd St, Miami FL 33130

About This Property

956-964 SW 3rd Street offers developers and investors the opportunity to acquire an eight-unit multifamily asset on a 15,000-square-foot assemblage in Miami's urban core, at an asking price of $2,400,000 and an in-place cap rate of 4.87%. The offering combines current income from the existing improvements with the underlying land value of a 0.344-acre T4-R site. For an investor, the property presents in-place net operating income of $116,901.06 on annual gross income of $163,707.00 across eight apartments, with electric service individually metered and paid directly by tenants — a structural feature relevant to evaluating the asset's ongoing expense profile. For a developer, the T4-R zoning designation and 15,000-square-foot land area, spanning two folios, may support future redevelopment, renovation, or repositioning of the site, subject to independent verification of zoning, density, and permitted uses with the applicable governing authorities.

Property Details

Property Type

Income/MultiFamily

Status

Active

MLS #

A12093630

Building Area

15,000 SF

Lot Size

7,500 SF

Year Built

1925

Zoning

3900

Net Operating Income

$163,707

Days on Market

0

Price

$2,400,000