23
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$5,400,000
Est. payment /mo
11,700 SqFt
New
871 SW 3rd St Miami, FL 33130
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,700 sqft
Price per Sqft $461
MLS Listing ID A12099896
HOA Y/N No
Year Built 1925
Lot Size 5,000 Sqft
Property Sub-Type Multi Family
Property Description
871 SW 3rd Street is 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. The existing financing is assumable at a rate below 6% with about four years remaining, so a buyer steps into in-place debt. The 40-year recertification is complete. 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. Asking Price: $5,400,000 ($225,000 per unit). 5.92% cap rate on reassessed NOI.
Location
State FL
County Miami-dade
Area 41
Zoning 3900
Exterior
Private Pool Yes
Building
Lot Description Flood Zone
Others
Tax ID 01-41-38-003-4200
Listed by APEX Capital Realty LLC
NEARBY SCHOOL & BUSINESS
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