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Multifamily

29th Avenue Apartments

2900 W Flagler St, Miami, FL 33135

Listing Price: $2,700,000

Cap Rate
3.81%
Number of Units
12
Occupancy
97.0%
Price/Unit
$225,000
Price/Gross SF
$420.95
Gross SF
6,414

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale, 2900 W Flagler Street, Miami, Florida a Twelve-unit apartment building. The property is a one-story concrete block construction building with a hip roof, off-street parking spaces and a laundry facility. The unit mix is comprised of two studios, eight one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units. The units have individual meters for water and electric. Landlord is responsible for the trash removal. The property has the 40-year recertification in place. 2900 W Flagler Street is located within the highly sought-after West Little Havana neighborhood. This rental market has become one the fastest growing neighborhoods in Miami-Dade County. There are over 510,000 residents within a five-mile radius of the property. 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 made the supply for rental units scarce. Over the last five years, there have been several new commercial and residential developments in the neighborhood, which enhances the quality of life for residents and visitors of Little Havana. Moreover, 1923 SW 2nd Street is situated two blocks south of Southwest 27th Avenue which is one of the main corridors in this neighborhood. In addition, Publix Supermarket a few blocks from the subject giving the tenants a very convenient access to groceries and is also within walking distance from public transportation.

Investment Highlights

  • Excellent Location within Wwest Little Havana
  • Great Unit Mix of Studios, One Bedrooms and Two Bedrooms Apartment Units
  • Seller Financing for a Qualified Buyer
  • A Few Blocks Away from Publix Supermarket and Public Transaportation
  • Off-Street Parking Spaces
  • Laundry Facility
  • Central Air-Conditioning Units
  • Individually Metered for Water and Electric

Exclusively Listed By

Financing By

Multifamily

29th Avenue Apartments

Listing Price: $2,700,000

Cap Rate
3.81%
Number of Units
12
Occupancy
97.0%
Price/Unit
$225,000
Price/Gross SF
$420.95
Gross SF
6,414

Investment Highlights

  • Excellent Location within Wwest Little Havana
  • Great Unit Mix of Studios, One Bedrooms and Two Bedrooms Apartment Units
  • Seller Financing for a Qualified Buyer
  • A Few Blocks Away from Publix Supermarket and Public Transaportation
  • Off-Street Parking Spaces
  • Laundry Facility
  • Central Air-Conditioning Units
  • Individually Metered for Water and Electric

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale, 2900 W Flagler Street, Miami, Florida a Twelve-unit apartment building. The property is a one-story concrete block construction building with a hip roof, off-street parking spaces and a laundry facility. The unit mix is comprised of two studios, eight one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units. The units have individual meters for water and electric. Landlord is responsible for the trash removal. The property has the 40-year recertification in place. 2900 W Flagler Street is located within the highly sought-after West Little Havana neighborhood. This rental market has become one the fastest growing neighborhoods in Miami-Dade County. There are over 510,000 residents within a five-mile radius of the property. 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 made the supply for rental units scarce. Over the last five years, there have been several new commercial and residential developments in the neighborhood, which enhances the quality of life for residents and visitors of Little Havana. Moreover, 1923 SW 2nd Street is situated two blocks south of Southwest 27th Avenue which is one of the main corridors in this neighborhood. In addition, Publix Supermarket a few blocks from the subject giving the tenants a very convenient access to groceries and is also within walking distance from public transportation.

Exclusively Listed By

Financing By

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