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2400 NW 16th Street Rd 27 Unit Apartment Building $12,308,400 CAD ($455,867 CAD/Unit) 5.97% Cap Rate Miami, FL 33125
Investment Highlights
- Lots of Natural Light
- Zoning allows up to 5 floors.
- Successfully completed its 40-year recertification
- Hurricane-proof windows
- New Elevator
- Stable tenant base
Executive Summary
Exceptional 27-unit multifamily asset in the heart of Little Havana, offering strong in-place income with clear value-add potential. The property benefits from a stable tenant base, with many long-term residents, allowing for a strategic repositioning through rent optimization and selective upgrades. Units consistently lease quickly, resulting in minimal vacancy and reliable cash flow.
The building features central A/C, a new elevator, a swimming pool, upgraded on-site laundry facilities, hurricane-impact windows, and ample parking. The property has successfully completed its 40-year recertification, providing additional confidence in its structural and compliance status—an important consideration for long-term investors.
Strategically located just minutes from Brickell, Downtown Miami, and Coral Gables, the asset is further enhanced by its proximity to major demand drivers, including the upcoming Freedom Park Miami and LoanDepot Park.
Zoning allows for up to five stories, presenting a compelling redevelopment or expansion opportunity with the potential to add an additional floor, increase density, and significantly enhance long-term asset value.
The building features central A/C, a new elevator, a swimming pool, upgraded on-site laundry facilities, hurricane-impact windows, and ample parking. The property has successfully completed its 40-year recertification, providing additional confidence in its structural and compliance status—an important consideration for long-term investors.
Strategically located just minutes from Brickell, Downtown Miami, and Coral Gables, the asset is further enhanced by its proximity to major demand drivers, including the upcoming Freedom Park Miami and LoanDepot Park.
Zoning allows for up to five stories, presenting a compelling redevelopment or expansion opportunity with the potential to add an additional floor, increase density, and significantly enhance long-term asset value.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $12,308,400 CAD | Building Class | C |
| Price Per Unit | $455,867 CAD | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 25,899 SF |
| Cap Rate | 5.97% | Average Occupancy | 100% |
| No. Units | 27 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1974/1994 |
| Property Subtype | Apartment | Parking Ratio | 1.54/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | commercial - T5 - 4600 - MULTI-FAMILY - 5 STORY , CENTRAL | ||
| Price | $12,308,400 CAD |
| Price Per Unit | $455,867 CAD |
| Sale Type | Investment |
| Cap Rate | 5.97% |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 25,899 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1974/1994 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | commercial - T5 - 4600 - MULTI-FAMILY - 5 STORY , CENTRAL |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Yard
- Freezer
- Patio
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Pool
- Wheelchair Accessible
- Elevator
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 870 - 890 |
| 2+1 | 18 | - | 750 - 780 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 01-3134-023-0010 | Improvements Assessment | $0 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $4,680,591 CAD (2025) |
Property Taxes
Parcel Number
01-3134-023-0010
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$4,680,591 CAD (2025)
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2400 NW 16th Street Rd
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