2014 SW 3rd St
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2014 SW 3rd St
9 Unit Block of Flats £2,112,615 (£234,735/Unit) 5.80% Net Initial Yield Miami, FL 33135
Investment Highlights
- 9-unit apartment building, all units are 2-bedrooms 1-bathroom.
- Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.
- 40-year recertification that was completed on 4/29/2021.
- 6-units having a private balcony, Immaculate maintained property, gated parking.
Executive Summary
9-unit apartment building, all units are 2-bedrooms 1-bathroom, approximately 780 sq,ft each. 6-units having a private balcony, Immaculate maintained property, gated parking on both sides of the property with a total of 9 parking spaces, plus additional public parking, all units are equipped with central air conditioner. Laundry facility on site for tenant, with newer equipment.
3-units are fully renovated. Both renovated and unrenovated units are renting below market averages. Market rents for the area for 2/1's range between $2400-$2500.
The renovated units are equipped with the Finest of Materials. New Kitchen with White Wood Shaker Cabinets, Beautiful Quartz Countertops and Hexagon Glass Tile Backsplash, with Brand New Stainless Steel Appliances porcelain Tiles throughout the Apartment , new Bathroom with all new Porcelain non slip tiles, Lighted Mirror, New White Wood Vanity, All New Doors Throughout.
Highlights:
Great location Little Havana neighborhood.
Centrally located close proximity to great schools, entertainment, and employment.
6-A/C have been replaced within the last few years.
40-year recertification that was completed on 4/29/2021.
With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn.
Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.
New rain gutters, wireless camera system, electric gate, wash, & dyer are newer, built 1971 cbs-concrete block and stucco construction.
Long term ownership over 40+years.
3-units are fully renovated. Both renovated and unrenovated units are renting below market averages. Market rents for the area for 2/1's range between $2400-$2500.
The renovated units are equipped with the Finest of Materials. New Kitchen with White Wood Shaker Cabinets, Beautiful Quartz Countertops and Hexagon Glass Tile Backsplash, with Brand New Stainless Steel Appliances porcelain Tiles throughout the Apartment , new Bathroom with all new Porcelain non slip tiles, Lighted Mirror, New White Wood Vanity, All New Doors Throughout.
Highlights:
Great location Little Havana neighborhood.
Centrally located close proximity to great schools, entertainment, and employment.
6-A/C have been replaced within the last few years.
40-year recertification that was completed on 4/29/2021.
With an average effective rent of $1,944, an investor has the opportunity to increase rental rates by 28% to be competitive within the market as units turn.
Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance.
New rain gutters, wireless camera system, electric gate, wash, & dyer are newer, built 1971 cbs-concrete block and stucco construction.
Long term ownership over 40+years.
Property Facts
| Price | £2,112,615 | Apartment Style | Low Rise |
| Price Per Unit | £234,735 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Net Initial Yield | 5.80% | Building Size | 9,249 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1971/2024 |
| Price | £2,112,615 |
| Price Per Unit | £234,735 |
| Sale Type | Investment |
| Net Initial Yield | 5.80% |
| No. Units | 9 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 9,249 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1971/2024 |
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Walk Score ®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 01-4103-014-2040 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £918,362 |
PROPERTY TAXES
Parcel Number
01-4103-014-2040
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£918,362
zoning
| Zoning Code | R-3 |
| R-3 |
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2014 SW 3rd St
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