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Coral Gables Portfolio-Mendoza/Salzedo 2 Multifamily Properties Offered at $11,908,473 CAD in Multiple Locations
Investment Highlights
- True turnkey Coral Gables multifamily – stabilized, renovated, compliant, and professionally managed
- Durable renter demand driven by walkability, income demographics, and limited new supply
- Ideal for private capital, family offices, or 1031 buyers seeking stable South Florida multifamily exposure
- Portfolio scale without operational complexity – three buildings on one block
- Strong downside protection with immediate cash flow and long-term appreciation
- Compelling alternative to ground-up development given construction costs and entitlement risk
Executive Summary
austo Commercial is pleased to present an exclusive opportunity to acquire a fully renovated, stabilized multifamily portfolio located in one of Coral Gables’ most desirable residential neighborhoods. The offering consists of three boutique apartment buildings totaling 28 units, all situated within the same walkable block, providing operational efficiency and a cohesive tenant experience.
The portfolio includes two symmetrical 8-unit buildings at 320 and 324 Mendoza Avenue featuring highly desirable one-bedroom layouts, along with a 12-unit Deco-style studio building at 1610 Salzedo Street. One Mendoza building has undergone a full gut renovation, while the remaining assets have been substantially renovated, resulting in attractive, well-maintained units with strong tenant appeal.
The properties are professionally managed, fully stabilized, and 100% occupied, generating $662,000 in current gross annual income, with clear mark-to-market upside to approximately $700,000+ in gross rents based on nearby comparable properties. At market rents, the portfolio supports an estimated true stabilized NOI of approximately $480,000.
Located in a tree-lined, walkable Coral Gables neighborhood near Miracle Mile, Merrick Park, and major employment centers, the portfolio benefits from sustained renter demand, limited new supply, and long-term value appreciation. All buildings are fully permitted, up to date on recertifications, and have no deferred maintenance, offering investors a turnkey acquisition suitable for long-term hold or strategic portfolio aggregation.
The portfolio includes two symmetrical 8-unit buildings at 320 and 324 Mendoza Avenue featuring highly desirable one-bedroom layouts, along with a 12-unit Deco-style studio building at 1610 Salzedo Street. One Mendoza building has undergone a full gut renovation, while the remaining assets have been substantially renovated, resulting in attractive, well-maintained units with strong tenant appeal.
The properties are professionally managed, fully stabilized, and 100% occupied, generating $662,000 in current gross annual income, with clear mark-to-market upside to approximately $700,000+ in gross rents based on nearby comparable properties. At market rents, the portfolio supports an estimated true stabilized NOI of approximately $480,000.
Located in a tree-lined, walkable Coral Gables neighborhood near Miracle Mile, Merrick Park, and major employment centers, the portfolio benefits from sustained renter demand, limited new supply, and long-term value appreciation. All buildings are fully permitted, up to date on recertifications, and have no deferred maintenance, offering investors a turnkey acquisition suitable for long-term hold or strategic portfolio aggregation.
Property Facts
| Price | $11,908,473 CAD | Number of Properties | 2 |
| Price / SF | $667.96 CAD / SF | Individually For Sale | 2 |
| Sale Type | Investment | Total Building Size | 17,828 SF |
| Status | Active | Total Land Area | 0.34 AC |
| Price | $11,908,473 CAD |
| Price / SF | $667.96 CAD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 17,828 SF |
| Total Land Area | 0.34 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1610 Salzedo St, Coral Gables, FL 33134 | Multifamily | 6,172 SF | 1926 | $5,091,899 CAD |
| 320-324 Mendoza Ave, Miami, FL 33134 | Multifamily | 11,656 SF | 1926 | $6,789,199 CAD |
Contacts
-
Carlos Fausto Miranda -
Vicente Rodriguez -
Christopher Canizares -
Fausto Commercial Realty Consultants
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Coral Gables Portfolio-Mendoza/Salzedo
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