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1610 Salzedo St 12 Unit Apartment Building $5,091,899 CAD ($424,325 CAD/Unit) 7.04% Cap Rate Coral Gables, FL 33134
Investment Highlights
- True turnkey Coral Gables multifamily — stabilized, renovated, and professionally managed
- Ideal for private capital, family offices, or 1031 buyers seeking low-risk income
- No deferred maintenance; building in excellent condition
- 12 large Deco-style studio units with consistent tenant demand
- 100% occupancy and strong rent collections
- Fully permitted and recertified as of 2026
Executive Summary
Fausto Commercial is pleased to present 1610 Salzedo Street, a renovated and fully stabilized 12-unit multifamily asset located in the heart of Coral Gables’ premier residential core. This boutique Deco-style apartment building features large, highly desirable studio residences, professionally curated common areas, and landscaped outdoor garden space—creating a refined living environment that supports long-term tenant retention.
The property is 100% occupied, professionally managed, and generates approximately $262,000 in gross annual income, supporting a true stabilized NOI of approximately $170,000. The building has been thoughtfully maintained with selective upgrades, offers no deferred maintenance, and is fully compliant with all building recertifications and permitting requirements as of 2026.
Situated on a quiet, tree-lined residential block, 1610 Salzedo Street benefits from exceptional walkability and proximity to Miracle Mile, Merrick Park, Ponce de Leon Boulevard, and major employment and transit corridors. The surrounding neighborhood’s architectural character, strong demographics, and limited new multifamily supply provide a durable foundation for stable income and long-term appreciation.
This offering represents a core / core-plus investment opportunity ideal for long-term holders, boutique portfolio owners, or investors seeking durable cash flow in one of South Florida’s most supply-constrained submarkets.
The property is 100% occupied, professionally managed, and generates approximately $262,000 in gross annual income, supporting a true stabilized NOI of approximately $170,000. The building has been thoughtfully maintained with selective upgrades, offers no deferred maintenance, and is fully compliant with all building recertifications and permitting requirements as of 2026.
Situated on a quiet, tree-lined residential block, 1610 Salzedo Street benefits from exceptional walkability and proximity to Miracle Mile, Merrick Park, Ponce de Leon Boulevard, and major employment and transit corridors. The surrounding neighborhood’s architectural character, strong demographics, and limited new multifamily supply provide a durable foundation for stable income and long-term appreciation.
This offering represents a core / core-plus investment opportunity ideal for long-term holders, boutique portfolio owners, or investors seeking durable cash flow in one of South Florida’s most supply-constrained submarkets.
Property Facts
| Price | $5,091,899 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $424,325 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 7.04% | Building Size | 6,172 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 0.49/1,000 SF |
| Zoning | MF-2 - MF-2 zoning provides long-term optionality subject to approvals | ||
| Price | $5,091,899 CAD |
| Price Per Unit | $424,325 CAD |
| Sale Type | Investment |
| Cap Rate | 7.04% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 6,172 SF |
| No. Stories | 2 |
| Year Built | 1926 |
| Parking Ratio | 0.49/1,000 SF |
| Zoning | MF-2 - MF-2 zoning provides long-term optionality subject to approvals |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | 500 |
Walk Score®
Walker's Paradise (94)
Property Taxes
| Parcel Number | 03-4108-009-3550 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,546,048 CAD |
Property Taxes
Parcel Number
03-4108-009-3550
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,546,048 CAD
Contacts
-
Carlos Fausto Miranda -
Vicente Rodriguez -
Christopher Canizares -
Fausto Commercial Realty Consultants
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