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Multifamily

Auction - Little Havana Apartments | 11 Units | Double Digit Cap Rate | Redevelopment Opportunity

528 SW 5th Ave, Miami, FL 33130

Listing Price: $200,000

Number of Units
11
GRM
1.76
Occupancy
100.0%
Price/Unit
$18,182
Price/Gross SF
$56.69
Gross SF
3,528

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace

Marcus & Millichap is pleased to present 528 Northwest 5th Avenue (the “Property”), located in the Little Havana submarket of Miami, Florida. The Property is 100% leased and consists of 2 two-story buildings built in 1925 on a 5,000 square foot lot zoned T4-R. The front building is comprised of 2 studios and 5 rooms. The back building is comprised of 1 studio and 3 one-bedroom apartments. Studios have a kitchen and bathroom. Rooms have a kitchenette and shared bathroom. All utilities in both buildings are paid for by the owner. There are three onsite parking spaces as well as abundant street parking.

The property is located just west of Interstate 95 and Downtown Miami in the highly desirable Little Havana submarket. The famous “Calle Ocho” is just to the south and Marlins Stadium is approximately one mile to the northwest. The Little Havana rental submarket 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 Jackson Memorial Hospital and The Hospital District to the north, Port of Miami, 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, 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.

Investment Highlights

  • STARTING BID $200,000 | $69k NOI | AUCTION MAY 13-15, 2024
  • 11-Unit Multi-Family Property in Miami's Little Havana Submarket
  • Close Proximity to Brickell, Downtown, and Marlins Stadium
  • Very Desirable Little Havana Submarket of Miami | $1,653/Month Avg Submarket Rents for Studios
  • Average Sales in Little Havana Approximately $200,000 Per Unit

Exclusively Listed By

Multifamily

Auction - Little Havana Apartments | 11 Units | Double Digit Cap Rate | Redevelopment Opportunity

Listing Price: $200,000

Number of Units
11
GRM
1.76
Occupancy
100.0%
Price/Unit
$18,182
Price/Gross SF
$56.69
Gross SF
3,528

Investment Highlights

  • STARTING BID $200,000 | $69k NOI | AUCTION MAY 13-15, 2024
  • 11-Unit Multi-Family Property in Miami's Little Havana Submarket
  • Close Proximity to Brickell, Downtown, and Marlins Stadium
  • Very Desirable Little Havana Submarket of Miami | $1,653/Month Avg Submarket Rents for Studios
  • Average Sales in Little Havana Approximately $200,000 Per Unit

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap is pleased to present 528 Northwest 5th Avenue (the “Property”), located in the Little Havana submarket of Miami, Florida. The Property is 100% leased and consists of 2 two-story buildings built in 1925 on a 5,000 square foot lot zoned T4-R. The front building is comprised of 2 studios and 5 rooms. The back building is comprised of 1 studio and 3 one-bedroom apartments. Studios have a kitchen and bathroom. Rooms have a kitchenette and shared bathroom. All utilities in both buildings are paid for by the owner. There are three onsite parking spaces as well as abundant street parking. The property is located just west of Interstate 95 and Downtown Miami in the highly desirable Little Havana submarket. The famous “Calle Ocho” is just to the south and Marlins Stadium is approximately one mile to the northwest. The Little Havana rental submarket 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 Jackson Memorial Hospital and The Hospital District to the north, Port of Miami, 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, 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.

Exclusively Listed By

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