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.
Property Details
- Interior
- First Floor Entry, Second Floor Entry, Fire Sprinklers, Other
- Cooling
- 1
- Heating
- Central
- Cooling Features
- Central Air
- Bedrooms
- 12
- Bathrooms
- 6.0
- Full Baths
- 6
- Lot Features
- Less Than 1/4 Acre Lot
- Lot Description
- Less Than 1/4 Acre Lot
- Exterior Features
- Lighting, Open Balcony
- Exterior Materials
- Lighting, Open Balcony
- Acres
- 0.133
- Square Feet
- 4658
- Lot Size (sqft)
- 5800.0
- Parking Features
- Driveway, Other, On Street
- Parking Type
- Driveway
- Property Type
- Purchase
- Style
- Detached, Two Story, Other
- Year Built
- 1925
- Roof
- Composition Roll, Shingle
- Sewer Information
- Public Sewer
- Utility Source
- Municipal Water
- Appliances
- Other Equipment/Appliances, Refrigerator
- Subdivision
- HORNERS ADDN
- Community Features
- Paved Road, Public Road
- County
- Miami-Dade County
- Region
- Miami
- Zoning
- 3901
- Original List Price
- $1,649,999
- Taxes Annual
- $24,355
Location
Legal
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Provided By
Listed by Joey Fumero-Manso (#3480525)
Listing Office: Sellstate 5 Star Realty (#SSSR01)
