2010 SW 25th Ter
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2010 SW 25th Ter
18 Unit Block of Flats £6,519,639 (£362,202/Unit) 5.18% Net Initial Yield Miami, FL 33133
Investment Highlights
- 2021 Construction, 18-Unit, Mid-Rise Apartment Building w/High Quality Luxury Finishes
- Large 2 & 3 Bedrooms Ranging from 972 – 1,304 SF w/Private Balconies and Washers/Dryers
- Flat Concrete Roof, Gated Parking Garage, Enclosed Mailroom and Central Elevator
- Proximate to Coconut Grove, Coral Way, Downtown Miami (Brickell) and Coral Gables
- Avg In-Place Rents ~15-20% Below Market Comps – Stabilize to a 6%+ Capitalization Rate
- Avg Household Income of $127,647 w/9.9% Population Growth Since 2010 (Experian)
Executive Summary
Silver Cove is a four-story, concrete building featuring 18 apartments and 33,424 total square feet on a 12,883-square-foot lot (per the Miami Dade Property Appraiser). The unit mix includes 20,373 leasable square feet with (3) two-bedroom | one-bathroom apartments averaging 972 square feet, (9) two-bedroom | two-bathroom apartments averaging 1,071 square feet and (6) three-bedroom, two-bathroom apartments averaging 1,304 square feet. Each unit offers a balcony, central air conditioning, contemporary finishes and in-unit washers and dryers. The property features a flat (concrete) roof, with gated parking on the first floor totaling 29 spaces, an enclosed mailroom within the lobby and a central elevator.
Property Facts
| Price | £6,519,639 | Apartment Style | Mid Rise |
| Price Per Unit | £362,202 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Net Initial Yield | 5.18% | Building Size | 33,424 SF |
| Gross Rent Multiplier | 12.66 | Average Occupancy | 100% |
| No. Units | 18 | Number of Floors | 4 |
| Property Type | Residential | Year Built | 2021 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Price | £6,519,639 |
| Price Per Unit | £362,202 |
| Sale Type | Investment |
| Net Initial Yield | 5.18% |
| Gross Rent Multiplier | 12.66 |
| No. Units | 18 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 33,424 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built | 2021 |
| Parking Ratio | 0.87/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Refrigerator
Site Amenities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 3 | £2,340 | 972 |
| 2+2 | 9 | £2,195 | 1,071 |
| 3+2 | 6 | £2,847 | 1,304 |
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 01-4115-005-0220 | Improvements Assessment | £3,354,950 |
| Land Assessment | £725,861 | Total Assessment | £4,080,811 |
PROPERTY TAXES
Parcel Number
01-4115-005-0220
Land Assessment
£725,861
Improvements Assessment
£3,354,950
Total Assessment
£4,080,811
zoning
| Zoning Code | T5-R |
| T5-R |
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2010 SW 25th Ter
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