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1044 SW 3rd St
Miami, FL 33130
Multifamily Property For Sale
·
12 Units
Investment Highlights
- Very well maintained building with recent upgrades
- Upside in rental income
- Impact windows and newer stucco
- Off-Street Parking and laundry room
- Central air-conditioning & heat
- Located between Flagler Street and SW 8th Street
Executive Summary
1044 SW 3rd Street offers an investor the opportunity to acquire a property and immediately add value by increasing the rental income to market levels. The current rent is about $350 below market rents for similar buildings. The building is a twelve-unit, three-story residential building with all one-bedroom/one-bathroom apartments that are approximately 631 SF. The property has some off-street parking in the rear and a small storage building that potentially could be used for a laundry room. The building has central air-conditioning & heat, impact windows, updated stucco and new paint. The building has a T4-R zoning and is situated on a .17 acre lot. The tenants are responsible for electric and the owner pays for water, sewer and trash removal.
1044 SW 3rd Street is located on SW 3rd Street between SW 8th Avenue and SW 12th Avenue. The property's neighborhood is located between Flagler Street and SW 8th Street, two main retail and commercial corridores. The area is very densely populated and is a very strong rental market. Little Havana extremely high occupancy can be contributed to its excellent location right in the middle of South Florida's major employment centers including the Health District to the north, Downtown Miami, Brickell and Port Miami to the east, Coconut Grove to the South and Coral Gables and Miami International Airport to the West.
1044 SW 3rd Street is located on SW 3rd Street between SW 8th Avenue and SW 12th Avenue. The property's neighborhood is located between Flagler Street and SW 8th Street, two main retail and commercial corridores. The area is very densely populated and is a very strong rental market. Little Havana extremely high occupancy can be contributed to its excellent location right in the middle of South Florida's major employment centers including the Health District to the north, Downtown Miami, Brickell and Port Miami to the east, Coconut Grove to the South and Coral Gables and Miami International Airport to the West.
Property Facts
| Price Per Unit | $287,262 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.33% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 11.74 | Building Size | 7,572 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | ||
| Zoning | T4-R | ||
| Price Per Unit | $287,262 CAD |
| Sale Type | Investment |
| Cap Rate | 4.33% |
| Gross Rent Multiplier | 11.74 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,572 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Zoning | T4-R |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $2,155 CAD | 631 |
Property Taxes
| Parcel Number | 01-4102-005-3780 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,385,934 CAD |
Property Taxes
Parcel Number
01-4102-005-3780
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,385,934 CAD
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