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Javier Ubeda | 305-766-1864 24 SW 21st Ave 8 Unit Apartment Building $2,929,920 CAD ($366,240 CAD/Unit) 5.06% Cap Rate Miami, FL 33135
INVESTMENT HIGHLIGHTS
- Rare Opportunity to Acquire an 8-Unit Apartment Complex in Little Havana, Miami
- 40/50 Year Building Recertification Completed in 2020
- On-Site Laundry Facility (Machines Owned by the Property)
- Value-Add Opportunity Through Interior and Exterior Renovation Achieving Significant Upside in Rental Income
- On Site Parking (1 Space per Unit)
EXECUTIVE SUMMARY
The Porosoff Group at Compass Commercial, as exclusive listing agent, is pleased to offer for sale 24 SW 21st Ave, a 8-unit apartment complex located in the highly sought-after Little Havana neighborhood in the City of Miami.
24 SW 21st Ave is located in the Little Havana section of Miami, a short distance to Brickell, the most important financial and commercial district in South Florida. Home to a growing number of international banks and firms, Brickell serves as Latin America’s Financial District and has recently enjoyed a transformation with a booming restaurant, entertainment and nightlife scene. The property is conveniently nestled blocks away from SW 8th Street (Calle Ocho) the cultural epicenter of the Miami Latin Community and walking distance to Flagler Street, one of the most important commercial corridors in Miami-Dade County. The excellent location contributes to high demand for rental units in the area and translates into historically low vacancy rates
24 SW 21st Ave is located in the Little Havana section of Miami, a short distance to Brickell, the most important financial and commercial district in South Florida. Home to a growing number of international banks and firms, Brickell serves as Latin America’s Financial District and has recently enjoyed a transformation with a booming restaurant, entertainment and nightlife scene. The property is conveniently nestled blocks away from SW 8th Street (Calle Ocho) the cultural epicenter of the Miami Latin Community and walking distance to Flagler Street, one of the most important commercial corridors in Miami-Dade County. The excellent location contributes to high demand for rental units in the area and translates into historically low vacancy rates
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $2,929,920 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $366,240 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.06% | Building Size | 4,260 SF |
| Gross Rent Multiplier | 12.73 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1930 |
| Property Type | Multifamily | Parking Ratio | 1.79/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C-1 - Neighborhood Commercial zoning allows for a variety of small-scale, neighborhood-serving businesses | ||
| Price | $2,929,920 CAD |
| Price Per Unit | $366,240 CAD |
| Sale Type | Investment |
| Cap Rate | 5.06% |
| Gross Rent Multiplier | 12.73 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,260 SF |
| No. Stories | 2 |
| Year Built | 1930 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | C-1 - Neighborhood Commercial zoning allows for a variety of small-scale, neighborhood-serving businesses |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 557 |
1 1
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 01-4103-014-3260 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,192,325 CAD |
PROPERTY TAXES
Parcel Number
01-4103-014-3260
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,192,325 CAD
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Javier Ubeda | 305-766-1864 | 24 SW 21st Ave
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