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Multifamily

The Hideaway

510 SW 7th Court, Miami, FL 33130

Listing Price: $1,750,000

Cap Rate
4.57%
Number of Units
6
Occupancy
95.0%
Price/Unit
$291,667
Price/Gross SF
$530.62
Gross SF
3,298

Investment Overview

Marcus & Millichap, as exclusive listing agent, is excited to bring to market The Hideaway, a 6-unit, boutique apartment community located in Miami, Florida, in the highly sought-after Little Havana submarket. The Hideaway is comprised of a two-story building constructed in 1972 of concrete block on a .14-acre site, located in a very quiet residential neighborhood, just south of Riverside Park, in the heart of Little Havana. Over the past year, the property has undergone significant interior and exterior renovations including new hurricane impact windows and sliding glass doors, exterior paint and lighting, electronic gated parking lot, new brick paver and asphalt parking lot overlays, new exterior railings, wood fencing, exterior lighting, tiled walkways and staircases, and new landscaping. All apartment interiors have been renovated, including kitchens and bathrooms, appliances, central air-conditioning, lighting, interior doors, and the addition of washers and dryers in ever unit. The property offers a unique and desirable unit mix of 2 one-bedroom and 4 two-bedroom apartments. Property amenities include landscaped grounds and gated surface parking. Apartment amenities include ceramic tile flooring, central heating and air-conditioning, individual hot-water heaters, kitchens with built-in microwaves, and walk-in closets. The Hideaway is located within the highly sought-after Little Havana neighborhood, equidistant between Downtown Miami, the Brickell Financial District and LoanDepot Park, which is where the Florida Marlins play. Calle Ocho, an international tourist attraction, is just three blocks to the south and is lined with Cuban owned restaurants and shops. The Little Havana rental market has become one the fastest growing in Miami-Dade County. There are over 510,000 residents within a five-mile radius of the property and a lack of rental housing. Little Havana is centrally located with the Jackson Memorial Hospital and The Hospital District to the north, PortMiami, Brickell and downtown Miami to the east, Coral Gables and Coconut Grove to the south and the Miami International Airport to the west. The proximity to major employers in South Florida, convenient access to major thoroughfares and public transportation are a few of the reasons Little Havana has become one of the most desirable locations to live. Due to the demand for rental units, there has been an upward pressure in rental rates, which has led to several new commercial and residential developments.

Investment Highlights

  • Highly Sought-After Little Havana Rental Market
  • Renovated Property with Many Significant Upgrades
  • Situated in a Quiet Residential Neighborhood
  • Unique Mix of Mostly Two-Bedroom Floor Plans
  • Gated Parking Lot with Electronic Entrance
  • Proximity to Employment, Shopping and Schools

Exclusively Listed By

Financing By

Multifamily

The Hideaway

Listing Price: $1,750,000

Cap Rate
4.57%
Number of Units
6
Occupancy
95.0%
Price/Unit
$291,667
Price/Gross SF
$530.62
Gross SF
3,298

Investment Highlights

  • Highly Sought-After Little Havana Rental Market
  • Renovated Property with Many Significant Upgrades
  • Situated in a Quiet Residential Neighborhood
  • Unique Mix of Mostly Two-Bedroom Floor Plans
  • Gated Parking Lot with Electronic Entrance
  • Proximity to Employment, Shopping and Schools

Investment Overview

Marcus & Millichap, as exclusive listing agent, is excited to bring to market The Hideaway, a 6-unit, boutique apartment community located in Miami, Florida, in the highly sought-after Little Havana submarket. The Hideaway is comprised of a two-story building constructed in 1972 of concrete block on a .14-acre site, located in a very quiet residential neighborhood, just south of Riverside Park, in the heart of Little Havana. Over the past year, the property has undergone significant interior and exterior renovations including new hurricane impact windows and sliding glass doors, exterior paint and lighting, electronic gated parking lot, new brick paver and asphalt parking lot overlays, new exterior railings, wood fencing, exterior lighting, tiled walkways and staircases, and new landscaping. All apartment interiors have been renovated, including kitchens and bathrooms, appliances, central air-conditioning, lighting, interior doors, and the addition of washers and dryers in ever unit. The property offers a unique and desirable unit mix of 2 one-bedroom and 4 two-bedroom apartments. Property amenities include landscaped grounds and gated surface parking. Apartment amenities include ceramic tile flooring, central heating and air-conditioning, individual hot-water heaters, kitchens with built-in microwaves, and walk-in closets. The Hideaway is located within the highly sought-after Little Havana neighborhood, equidistant between Downtown Miami, the Brickell Financial District and LoanDepot Park, which is where the Florida Marlins play. Calle Ocho, an international tourist attraction, is just three blocks to the south and is lined with Cuban owned restaurants and shops. The Little Havana rental market has become one the fastest growing in Miami-Dade County. There are over 510,000 residents within a five-mile radius of the property and a lack of rental housing. Little Havana is centrally located with the Jackson Memorial Hospital and The Hospital District to the north, PortMiami, Brickell and downtown Miami to the east, Coral Gables and Coconut Grove to the south and the Miami International Airport to the west. The proximity to major employers in South Florida, convenient access to major thoroughfares and public transportation are a few of the reasons Little Havana has become one of the most desirable locations to live. Due to the demand for rental units, there has been an upward pressure in rental rates, which has led to several new commercial and residential developments.

Exclusively Listed By

Financing By

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