Fully occupied 12-unit Shenandoah neighborhood

The building has benefited from updated plumbing and electrical systems, newer wall-mounted A/C units, a roof installed in 2021, and completion of the 40-year recertification in 2018. This allows investors to focus on maintaining occupancy and capturing the existing rental upside rather than undertaking a major renovation program.

MARKETING HIGHLIGHTS

– Offered at $2,500,000
– Approximately $208,333 per unit
– 100% occupancy
– 6.96% current cap rate
– 7.22% projected cap rate
– All leases reported as month-to-month
– Potential to increase rents on eight units from $1,750 to $1,850 per month

PROPERTY HIGHLIGHTS

– 12 one-bedroom, one-bathroom apartments
– 12,626-square-foot corner lot
– Three-story building with 12 reported parking spaces
– Updated plumbing and electrical systems
– Roof installed in 2021
– 40-year recertification completed in 2018
– Centrally located near Calle Ocho, Coconut Grove, Brickell, Downtown Miami, and State Road 836

The current pricing creates an attractive basis for investors seeking strong in-place cash flow, measurable rental upside, and a centrally located Miami multifamily asset.