871 SW 3rd Street

Overview

APEX Capital Realty presents 871 SW 3rd Street, a 100% occupied, 24-unit multifamily building in East Little Havana. All 24 one-bedroom, one-bath apartments are leased at an average in-place rent of $1,685 per month, for $40,451 in scheduled rent each month.

The existing loan is assumable at a rate below 6% with about four years remaining, so a buyer steps into in-place financing instead of a new loan. The building is offered at $5,400,000, or $225,000 per unit: a 5.92% cap rate on reassessed NOI. The 40-year recertification is complete.

East Little Havana sits between Calle Ocho and Brickell, minutes from Downtown Miami and the Miami River, with steady demand for well-located workforce housing.

Property details

Units24 · all one-bedroom, one-bath

Building SF11,700 SF · built 1925

Lot5,000 SF (0.11 AC) · zoned T4-R

Occupancy100% · average in-place rent $1,685 per month

Scheduled rent$40,451 per month · $485,412 per year

NOI$397,538 current · $319,894 reassessed (5.92% cap rate)

FinancingAssumable loan · rate below 6% · about 4 years remaining

Recertification40-year recertification complete

Folio01-4138-003-4200

Full property details, offering memorandum and financials are available from the listing advisor. Information is deemed reliable but not guaranteed; subject to errors, omissions, prior sale or lease, or withdrawal without notice.