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Gables Galiano 1091 Galiano St 27 Unit Apartment Building $27,918,401 CAD ($1,034,015 CAD/Unit) Coral Gables, FL 33134
INVESTMENT HIGHLIGHTS
- Attractive Spread for Condo Conversion: $531 PSF entry cost with comps exceeding $1000+ PSF
- Modern Amenities Include Large Balconys, Pool, Outdoor BBQ Area, Gated Garage, and Climate-Controlled Common Areas
- Located in Supply-Constrained Coral Gables Market, Offering Strong Demand Fundamentals and Long-Term Rent Growth Potential
- Luxury 27-Unit Mid-Rise Featuring Spacious Floorplans Averaging 1,395 SF
- Secure Building with Gated Parking Garage, Bicycle Storage, and Dual Elevators
- In-Place Rents Averaging $3.17/SF Are Below Market, Presenting Immediate Upside Through Strategic Rent Adjustments
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to offer for sale Gables Galiano located at 1091 Galiano Street in Coral Gables, Florida.
This property comprises 27 luxury residential units with a diverse mix of spacious floorplans. This includes eight three-bedroom three-bath units, eight three-bedroom two-bath units, eight two-bedroom two-bath units, and three two-bedroom two-and-a-half-bath townhomes. Each unit offers an average of 1,395 square feet of fully air-conditioned living space.
The modern mid-rise construction features floors three through six with ceiling heights of 9 feet 3 inches, while the townhomes showcase impressive 13-foot ceilings, creating an open and airy atmosphere. Every unit includes at least one large private terrace, enhancing the overall living experience.
Residents can enjoy a wide range of desirable amenities, including a resort-style pool, an outdoor barbecue area, climate-controlled common areas, and secure bicycle storage. The property also features a gated parking garage with 56 spaces and two elevators for added convenience and security.
Currently, in-place rents average $3.17 per square foot, which is below the market rate for comparable Class A properties in the area. This presents a significant opportunity for income growth through strategic rent adjustments.
With its strong physical attributes, generous unit sizes, and substantial upside potential, Gables Galiano offers an exceptional investment opportunity for buyers seeking both immediate and long-term returns in a supply-constrained rental market.
This property comprises 27 luxury residential units with a diverse mix of spacious floorplans. This includes eight three-bedroom three-bath units, eight three-bedroom two-bath units, eight two-bedroom two-bath units, and three two-bedroom two-and-a-half-bath townhomes. Each unit offers an average of 1,395 square feet of fully air-conditioned living space.
The modern mid-rise construction features floors three through six with ceiling heights of 9 feet 3 inches, while the townhomes showcase impressive 13-foot ceilings, creating an open and airy atmosphere. Every unit includes at least one large private terrace, enhancing the overall living experience.
Residents can enjoy a wide range of desirable amenities, including a resort-style pool, an outdoor barbecue area, climate-controlled common areas, and secure bicycle storage. The property also features a gated parking garage with 56 spaces and two elevators for added convenience and security.
Currently, in-place rents average $3.17 per square foot, which is below the market rate for comparable Class A properties in the area. This presents a significant opportunity for income growth through strategic rent adjustments.
With its strong physical attributes, generous unit sizes, and substantial upside potential, Gables Galiano offers an exceptional investment opportunity for buyers seeking both immediate and long-term returns in a supply-constrained rental market.
PROPERTY FACTS
| Price | $27,918,401 CAD | Building Class | B |
| Price Per Unit | $1,034,015 CAD | Lot Size | 0.56 AC |
| Sale Type | Investment | Building Size | 45,980 SF |
| No. Units | 27 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | 5001, 0081 | ||
| Price | $27,918,401 CAD |
| Price Per Unit | $1,034,015 CAD |
| Sale Type | Investment |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.56 AC |
| Building Size | 45,980 SF |
| No. Stories | 6 |
| Year Built | 2020 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | 5001, 0081 |
AMENITIES
SITE AMENITIES
- Picnic Area
- Pool
- Bicycle Storage
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 8 | - | 1,219 - 1,888 |
| 2+2.5 | 3 | - | 1,873 |
| 3+3 | 16 | - | 1,444 - 2,084 |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 03-4108-009-1370 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $16,472,000 CAD |
PROPERTY TAXES
Parcel Number
03-4108-009-1370
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$16,472,000 CAD
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Gables Galiano | 1091 Galiano St
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