Discover 2014 SW 3 ST, a meticulously maintained 9-unit apartment building in the heart of vibrant Little Havana. This stabilized asset, boasting 100% occupancy, presents a rare opportunity for investors to capitalize on significant rental upside. Currently achieving an average effective rent of $1,988, this property offers a clear path to a 19% increase, aligning with market rents of $2,300-$2,400 for 2/1 units.
Proven Income Stream: Current gross monthly income of $17,900, with a current in place cap rate of 6.18%.
Projected Growth: Potential gross monthly income of $21,150, resulting in a projected cap rate of 6.35% after reassessment of taxes and insurance, achievable through strategic rent adjustments.
Proven Income Stream: Current gross monthly income of $17,900, with a current in place cap rate of 6.18%.
Projected Growth: Potential gross monthly income of $21,150, resulting in a projected cap rate of 6.35% after reassessment of taxes and insurance, achievable through strategic rent adjustments.
Property Details
Price:
$2,500,000
MLS #:
A11697955
Status:
Active
Beds:
0
Baths:
0
Address:
2014 SW 3rd St
Type:
Commercial
Subtype:
Income/MultiFamily
City:
Miami
Listed Date:
Nov 12, 2024
State:
FL
Finished Sq Ft:
7,566
Total Sq Ft:
7,566
ZIP:
33135
Year Built:
1971
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Schools
Interior
Exterior
Financial
Taxes
$26,323
Map
Community
- Address2014 SW 3rd St Miami FL
- CityMiami
- CountyMiami-Dade County
- Zip Code33135
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