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Multifamily

Villas at Salzedo

1218 Salzedo St, Coral Gables, FL 33134

Listing Price: $3,360,000

Cap Rate
4.36%
Number of Units
12
Occupancy
97.0%
Price/Unit
$280,000
Price/Gross SF
$583.33
Gross SF
5,760

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale Villas at Salzedo, a 12-unit apartment building located in Coral Gables, Florida. The property underwent an extensive renovation including PVC plumbing throughout the building, new electrical panels, new laundry facility, landscaping, new railings, painting, exterior light fixtures, and mini split units in a few of the units. Villas at Salzedo is located at 1218 Salzedo Street. Villas at Salzedo has 12 one-bedroom/one-bathroom units of approximately 455 square feet according to the tax record. The property has been historically 100 percent occupied. Most of the tenants are young professionals that work from home or within the close vicinity of the property. There is plenty of street parking available for all the tenants within a two-block radius. Villas at Salzedo offers a very picturesque Mediterranean look that stands out from other rental properties nearby and has been meticulously maintained. Location Overview The city of Coral Gables was one of the first major planned communities and its planning was based on the popular early twentieth century City Beautiful Movement. The city has a total area of 37.2 square miles and it is bordered on the west by Red Road (West 57th Avenue), to the north by Tamiami Trail/US Route 41 (Southwest 8th Street), to the east by Douglas Road (West 37th Avenue) and to the south by Charles Deering Estate. The city of Coral Gables is recognized by holding several of the wealthiest zip codes (33156, 33143, 33133 and 33146) and neighborhoods in the United States, such as Hammock Oaks, Old Cutler Bay, Gables Estates, Tahiti Beach, Snapper Creek and Lakes, Cocoplum and Gables by the Sea. Coral Gables is a pedestrian friendly destination. It has over 140 dining establishments and gourmet shops, and many notable international retailers. Moreover, it has its own financial district with multiple international companies, law firms and bank institutions. Among the largest employers in the city are The University of Miami, Baptist Hospital of Miami, Exxon Mobil, Odebrecht Construction, and American Airlines.

Investment Highlights

  • Excellent Location within the Highly Sought-After City of Coral Gables
  • Proximity to Employers, Restaurants, Hotels, Grocery Stores, Shops and Public Transportation
  • Short Drive to Coconut Grove, Downtown Miami/ Brickell, Miami Beach and Wynwood
  • Extensively Renovated Property
  • 100% PVC Plumbing
  • New Landscaping and Recently Painted
  • Historically 100% Occupied
  • Laundry Facility

Exclusively Listed By

Financing By

Multifamily

Villas at Salzedo

Listing Price: $3,360,000

Cap Rate
4.36%
Number of Units
12
Occupancy
97.0%
Price/Unit
$280,000
Price/Gross SF
$583.33
Gross SF
5,760

Investment Highlights

  • Excellent Location within the Highly Sought-After City of Coral Gables
  • Proximity to Employers, Restaurants, Hotels, Grocery Stores, Shops and Public Transportation
  • Short Drive to Coconut Grove, Downtown Miami/ Brickell, Miami Beach and Wynwood
  • Extensively Renovated Property
  • 100% PVC Plumbing
  • New Landscaping and Recently Painted
  • Historically 100% Occupied
  • Laundry Facility

Investment Overview

Marcus & Millichap, as exclusive listing broker, is pleased to offer for sale Villas at Salzedo, a 12-unit apartment building located in Coral Gables, Florida. The property underwent an extensive renovation including PVC plumbing throughout the building, new electrical panels, new laundry facility, landscaping, new railings, painting, exterior light fixtures, and mini split units in a few of the units. Villas at Salzedo is located at 1218 Salzedo Street. Villas at Salzedo has 12 one-bedroom/one-bathroom units of approximately 455 square feet according to the tax record. The property has been historically 100 percent occupied. Most of the tenants are young professionals that work from home or within the close vicinity of the property. There is plenty of street parking available for all the tenants within a two-block radius. Villas at Salzedo offers a very picturesque Mediterranean look that stands out from other rental properties nearby and has been meticulously maintained. Location Overview The city of Coral Gables was one of the first major planned communities and its planning was based on the popular early twentieth century City Beautiful Movement. The city has a total area of 37.2 square miles and it is bordered on the west by Red Road (West 57th Avenue), to the north by Tamiami Trail/US Route 41 (Southwest 8th Street), to the east by Douglas Road (West 37th Avenue) and to the south by Charles Deering Estate. The city of Coral Gables is recognized by holding several of the wealthiest zip codes (33156, 33143, 33133 and 33146) and neighborhoods in the United States, such as Hammock Oaks, Old Cutler Bay, Gables Estates, Tahiti Beach, Snapper Creek and Lakes, Cocoplum and Gables by the Sea. Coral Gables is a pedestrian friendly destination. It has over 140 dining establishments and gourmet shops, and many notable international retailers. Moreover, it has its own financial district with multiple international companies, law firms and bank institutions. Among the largest employers in the city are The University of Miami, Baptist Hospital of Miami, Exxon Mobil, Odebrecht Construction, and American Airlines.

Exclusively Listed By

Financing By

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