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Hurricane Flats 6647 SW 59th Pl 15 Unit Apartment Building $5,062,710 CAD ($337,514 CAD/Unit) 5.06% Cap Rate Miami, FL 33143

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Investment Highlights

Extremely Rare Opportunity To Acquire An Impeccably Maintained, 15-Unit Multifamily Asset In The Heart Of South Miami
Property Features Modern And Sleek Units With Luxury Vinyl Flooring, Open Layouts, Stainless Steel Appliances, Premium Kitchen Cabinetry & Countertops
Strong Demographics In Neighborhood With High Average Household Income And Home Values

Property Features Strong In-Place Cash Flow With The Ability To Further Increase Rents By Almost 17% With Minimal Capital Expenditures Needed
Amenities Include Mini-Split Air Conditioners, Common Laundry Facility, Designated Parking Lot & Ample Street Parking Available, And Security Fence
Robust Rental Demand Due To Large Student Population And Proximity To The University Of Miami

Executive Summary

Hurricane Flats presents a rare investment opportunity in the highly desirable South Miami market. This 7,085-square-foot multifamily property features 15 well-maintained units housed within a charming, mid-century building originally constructed in 1950. The property’s design embodies the classic low-rise, garden-style aesthetic, offering residents a comfortable and efficient living environment that continues to attract steady demand year after year.
Currently operating at 100% occupancy, Hurricane Flats provides investors with an immediate and stable income stream. The unit mix and layout maximize rentable area while maintaining a balanced operational scale ideal for hands-on or portfolio investors alike. The property has been consistently maintained, allowing for seamless management and minimal downtime between tenancies, underscoring its strong performance history and long-term reliability as an income-producing asset.
Situated on a parcel zoned RS-4 Single Family Residential, the property offers flexible investment potential—whether held for stable multifamily cash flow, future redevelopment, or as part of a long-term land banking strategy. Its size, stability, and enduring tenant demand make Hurricane Flats a unique opportunity to acquire a high-performing asset in one of Miami-Dade’s most consistently sought-after residential submarkets.

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Property Facts

Price	$5,062,710 CAD	Building Class	C
Price Per Unit	$337,514 CAD	Lot Size	0.26 AC
Sale Type	Investment	Building Size	17,085 SF
Cap Rate	5.06%	Average Occupancy	100%
No. Units	15	No. Stories	2
Property Type	Multifamily	Year Built	1950
Property Subtype	Apartment	Parking Ratio	2.12/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	RS-3 - Residential Multi-Family

Price	$5,062,710 CAD
Price Per Unit	$337,514 CAD
Sale Type	Investment
Cap Rate	5.06%
No. Units	15
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.26 AC
Building Size	17,085 SF
Average Occupancy	100%
No. Stories	2
Year Built	1950
Parking Ratio	2.12/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	RS-3 - Residential Multi-Family