About This Property
Residential in Miami
Exceptional investment opportunity in the heart of Little Havana. This income-producing asset consists of two detached buildings featuring a uniform mix of six fully renovated 2-bedroom, 1-bathroom units. Operating with an efficient 31.83% expense ratio, the property generates a Net Operating Income (NOI) of $115,144.50, representing an approximate 6.98% cap rate based on a $1,649,000 purchase price.Ownership has invested over $200,000 in recent capital improvements, helping minimize future capital expenditures and offering a turnkey ownership opportunity. Major upgrades include complete interior renovations (2022), new permitted roofs (2024), new exterior stucco and paint (2024), roof-mounted mini-split HVAC systems (2024), plumbing improvements, and fully upgraded electrical systems with new main service entries and meter boxes (2025/2026).For additional confidence, the City of Miami 40- and 50-year structural recertifications have been fully completed and approved. Ideally located near Brickell, Downtown Miami, the Health District, and major employment and transportation corridors, the property benefits from strong rental demand and long-term appreciation potential associated with Miami's continued growth and development.A stabilized multifamily asset with established income, extensive recent improvements, completed recertifications, and a central Little Havana location.
Features & Amenities
Property Highlights
Roof
- Shingle
Sewer
- Public Sewer
Levels
- Two
Cooling
- Central Air
Heating
- Central
Flooring
- Vinyl
Appliances
- Refrigerator
- Other
Possession
- Close Of Escrow
Room Types
- Other
WaterSource
- Public
Restrictions
- No Restrictions
Water Source
- Public
Listing Terms
- Cash
- Conventional
- Owner Will Carry
Porch Details
- Porch - Open
Balcony Details
- Balcony - Open
Other Equipment
- Other
ParkingFeatures
- Driveway
- On Street
Tax Information
- CityCounty
ExteriorFeatures
- Balcony
- Lighting
InteriorFeatures
- Other
Parking Features
- Driveway
- On Street
SecurityFeatures
- Fire Sprinkler System
Exterior Features
- Lighting
Interior Features
- Other
Road Surface Type
- Paved
Security Features
- Fire Sprinkler System
ArchitecturalStyle
- Other
Master BedroomBath
- Other
Property Condition
- Resale
Road Frontage Type
- Public Road
Architectural Style
- Other
Special Information
- Sold As-Is
Showing Requirements
- 24 Hour Notice
Outdoor Living Spaces
- Balcony
- Porch
PatioAndPorchFeatures
- Porch - Open
- Porch
Construction Materials
- Block
- Frame
- Stucco
Specifications
Property Details
Location