Property
| Ownership: | For Sale |
|---|---|
| Type: | Single Family |
| Rooms: | 1 |
| Bedrooms: | 12 BR |
| Bathrooms: | 6 |
| Lot Size: | 0.1 Acres |
Financials
Price:$1,649,999
Annual Taxes:$24,355
Listing Courtesy of Sellstate 5 Star Realty
Exceptional investment opportunity in the heart of Little Havana.
Description
Exceptional investment opportunity in the heart of Little Havana. This income-producing asset consists of two detached buildings featuring a uniform mix of six fully renovated 2-bedroom, 1-bathroom units. Operating with an efficient 31.83% expense ratio, the property generates a Net Operating Income (NOI) of $115,144.50, representing an approximate 6.98% cap rate based on a $1,649,000 purchase price.Ownership has invested over $200,000 in recent capital improvements, helping minimize future capital expenditures and offering a turnkey ownership opportunity. Major upgrades include complete interior renovations (2022), new permitted roofs (2024), new exterior stucco and paint (2024), roof-mounted mini-split HVAC systems (2024), plumbing improvements, and fully upgraded electrical systems with new main service entries and meter boxes (2025/2026).For additional confidence, the City of Miami 40- and 50-year structural recertifications have been fully completed and approved. Ideally located near Brickell, Downtown Miami, the Health District, and major employment and transportation corridors, the property benefits from strong rental demand and long-term appreciation potential associated with Miami's continued growth and development.A stabilized multifamily asset with established income, extensive recent improvements, completed recertifications, and a central Little Havana location.
Amenities
- Balcony
- Fire Sprinkler System
- Lighting
- Other
- Refrigerator
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.