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New 33-Bedroom Co-Living Building in Little Havana: Affordable and Convenient Housing for Middle-Income Renters with a building of 12,437 sqft and a lot size of 5,875 sqft

  • $5,500,000
542, Southwest 7th Street, Miami, Miami-Dade County, Florida, 33130, United States
  • Multi-family
  • Property Type
  • 12,437
  • ft²
  • 5,875
  • Lot ft²
For Sale
New 33-Bedroom Co-Living Building in Little Havana: Affordable and Convenient Housing for Middle-Income Renters with a building of 12,437 sqft and a lot size of 5,875 sqft
542, Southwest 7th Street, Miami, Miami-Dade County, Florida, 33130, United States
  • $5,500,000

Details

Updated on August 6, 2024 at 3:19 pm
  • Price: $5,500,000
  • Property Size: 12,437 ft²
  • Land Area: 5,875 ft²
  • Property Type: Multi-family
  • Property Status: For Sale

Description

This is a new 33-bedroom co-living building in Little Havana designed to provide affordable, convenient, and move-in ready housing for middle-income renters aged 25-35 with incomes between $45k-$150k. Each private room comes with a unique digital lock for security, fully furnished, all utilities-included, professionally cleaned, and periodically serviced.

Some rooms have shared bathrooms, while others have en-suite bathrooms, and the building has communal spaces such as spacious living rooms and fully equipped kitchens. All leases are long-term, and the bedrooms function as studios, yielding higher rents per square foot for investors while spreading risk across a broader spectrum of tenants. Sellers have the option to sign a 5 year master lease with Common/Habyt, a multi-million dollar company and the world’s largest operator of co- living properties which comes with a corporate guarantee of an NOI of $422,679 and them assuming all maintenance costs. The property is a unique investment opportunity that provides an appealing alternative for renters seeking affordability without sacrificing quality or location. Given the potential net income this property has minimal operational and maintenance expenses making it a perfect turn-key investment opportunity.

Property Documents

542 SW 7TH ST-MV-LITTLEHAVANA.pdf-4
  • Address 542, Southwest 7th Street, Miami, Miami-Dade County, Florida, 33130, United States
  • City Miami
  • State/county Miami-Dade County
  • Zip/Postal Code 33130

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