871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
871 SW 3rd Street
Property Summary
Price / Unit
$225,000
Total Units
24 (1BD/1BA)
Building Size
11,700 SF
Description
Apex Capital Realty is excited to present 871 SW 3rd Street, 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.
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. The existing financing is assumable at a rate below 6% with about four years remaining, so a buyer steps into in-place debt.
871 SW 3rd Street is offered turnkey at $5,400,000 — $225,000 per door, a 5.92% cap rate on reassessed NOI. The 40-year recertification is complete, and a buyer steps into stabilized income on day one with no near-term capital program.
Brickell City Centre, Mary Brickell Village, Downtown Miami, Calle Ocho and the Miami River are all minutes away, with I-95 and Miami International Airport close by, putting residents within easy reach of Miami's thriving economic centers.
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. The existing financing is assumable at a rate below 6% with about four years remaining, so a buyer steps into in-place debt.
871 SW 3rd Street is offered turnkey at $5,400,000 — $225,000 per door, a 5.92% cap rate on reassessed NOI. The 40-year recertification is complete, and a buyer steps into stabilized income on day one with no near-term capital program.
Brickell City Centre, Mary Brickell Village, Downtown Miami, Calle Ocho and the Miami River are all minutes away, with I-95 and Miami International Airport close by, putting residents within easy reach of Miami's thriving economic centers.
Lot & Building Size Breakdown:
Total Lot Size
5,000 SF (0.11 AC)
Total Building Size
11,700 SF
Zoning
T4-R
Property Highlights
Prime Location: East Little Havana, between Calle Ocho and Brickell, with Downtown and the Miami River close by.
100% Occupied: All 24 units leased at an average in-place rent of $1,685 per month, with $40,451 in scheduled rent per month.
Assumable Debt: Assumable at a rate below 6%, with approximately four years remaining on the term: step into in-place financing instead of a new loan.
Turnkey at $225,000 per Door: Under $250K per unit for a fully leased building in East Little Havana.
Details
Property size: 11,700 Sq Ft
Property Status:
For Sale
Property Type: Multifamily
Land Area: 5,000 Sq Ft
Year Built: 1925
Address
City: Miami
State/country: Florida
Country: USA
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APEX Capital Realty
561 NE 79 ST Suite 420 Miami, FL 33138
(305) 570-2600
info@apexcapitalrealty.com
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