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LBM Apartments 1362 SW 2nd St 20 Unit Apartment Building $5,285,670 CAD ($264,283 CAD/Unit) 5.70% Cap Rate Miami, FL 33135
Investment Highlights
- Newer roofs, Upgraded PVC plumbing, 40-Year Recertification completed, Stabilized income, Immediate value-add potential
Executive Summary
High-performing 20-unit multifamily asset in the heart of Little Havana generating $356,580 in gross annual rent & $236,901 in NOI. Strong in-place income with plenty of upside—current rents are below Section 8 levels, offering immediate value-add potential through rental increases. Other features: newer roofs, upgraded PVC plumbing, & a history of consistent 100% occupancy. Unit mix: (1) 1-bed/2-bath, (14) 1-bed/1-bath, (4) 2-bed/1-bath, & (1) 2-bed/2-bath. Priced at just $199,500 per unit—rare for Little Havana with this level of stabilized income. 40-Year Recertifications have been completed. Attachments include the current rent roll, 2025 operating statement, & certification reports. Freddie Mac loan is assumable with a 3.83% interest rate, approx. $1,720,000 balance, & 2030 maturity.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$483,273
|
$47.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$483,273
|
$47.94
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$162,200
|
$16.09
|
| Net Operating Income |
$321,073
|
$31.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $483,273 |
| Annual Per SF | $47.94 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $483,273 |
| Annual Per SF | $47.94 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $162,200 |
| Annual Per SF | $16.09 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $321,073 |
| Annual Per SF | $31.85 |
Property Facts
| Price | $5,285,670 CAD | Building Class | C |
| Price Per Unit | $264,283 CAD | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 10,080 SF |
| Cap Rate | 5.70% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | SD-142, Miami - Residential Multi-Family | ||
| Price | $5,285,670 CAD |
| Price Per Unit | $264,283 CAD |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 10,080 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1914 |
| Parking Ratio | 0.99/1,000 SF |
| Zoning | SD-142, Miami - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
- Courtyard
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+2 | 1 | - | - |
| 1+1 | 14 | - | 500 |
| 2+1 | 4 | - | - |
| 2+2 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Property Taxes
| Parcel Number | 01-4102-006-2220 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,997,123 CAD |
Property Taxes
Parcel Number
01-4102-006-2220
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,997,123 CAD
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LBM Apartments | 1362 SW 2nd St
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