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1029 Northwest 3rd St 1029 NW 3rd St 12 Unit Apartment Building $5,470,718 CAD ($455,893 CAD/Unit) 4.12% Cap Rate Miami, FL 33128
Investment Highlights
- Access & Connectivity
- Nearby Little Havana
- Strong Rental Demographics & Demand
- Area Amenities & Demand Drivers
- Off-Street Parking & Amenities
- Quality of Life Amenities
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 1029 NW 3rd Street in Miami, FL (the “Property”). The three-story building contains nine (9) 2-Bedroom/2-Bathroom units and three (3) 1-Bedroom/1-Bathroom units with 16,054 square feet of gross living area. The Property is situated upon a 0.17-acre parcel and features twelve (12) off-street parking spaces. This property was built using the Miami 21 mixed-income program, which successfully doubled the lot's density and maximized its total floor area. In exchange for these development benefits, the building maintains a 12-unit affordable housing structure based on Miami-Dade's AMI limits. The unit distribution includes two units at the 30% AMI tier, one unit at the 50% AMI tier, and nine workforce units capped at 140% AMI.
Property Facts
| Price | $5,470,718 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $455,893 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.12% | Building Size | 16,054 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2020 |
| Zoning | T4-R - General Urban Zone: | ||
| Price | $5,470,718 CAD |
| Price Per Unit | $455,893 CAD |
| Sale Type | Investment |
| Cap Rate | 4.12% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 16,054 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2020 |
| Zoning | T4-R - General Urban Zone: |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Online Services
- Walk-Up
- Smoke Detector
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Exceptionally walkable
100/100
Fairly drivable
50/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01-4102-005-1460 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $3,135,462 CAD |
Property Taxes
Parcel Number
01-4102-005-1460
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,135,462 CAD
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1029 Northwest 3rd St | 1029 NW 3rd St
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