SUNNY GROVE APARTMENTS

Fausto Commercial Realty is pleased to present the Sunny Grove Apartments located at 1440 SW 42nd Avenue, Coral Gables, FL. A premier multifamily property epitomizing the pinnacle of rental living in one of the most desirable communities of Dade County. This exceptional offering comprises 12 meticulously maintained two-bedroom, one-bath units, nestled within a building that spans a generous living area of 10,841 sq ft on a sprawling lot size of 25,466 sq ft. Built in 1947 and comprehensively renovated five years ago in 2019, the property showcases modern amenities including impact windows and central AC across all units, ensuring both comfort and safety for its tenants. The current rental income stands at $30,350 per month, derived from an average rent of $2,500 per unit, with a potential increase to market rates at $2,900 for a projected rental income of $34,800 per month. This investment highlights a 5% cap rate on actuals, with a promising 5.5% cap rate on a proforma basis, representing a competitive market capitalization for the area given the quality of the building and its tenants.