Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to present El Portal Apartments, a 6-unit multifamily property operating as 7 units, located in the highly desirable El Portal neighborhood of Miami. Built in 1955, the property spans 3,464 square feet on a 0.17-acre lot with concrete block construction, a concrete roof, mini-split air conditioning systems, and hurricane impact windows and doors. It is separately metered for electricity. The unit mix includes 3 studios, 2 one-bedroom/one-bath units, and 1 two-bedroom/one-bath unit, plus a nonconforming studio. The property is currently being operated as furnished short-term rentals and is in the process of transitioning to a blend of short-term and long-term tenancy, providing flexibility in income strategy. El Portal Apartments benefits from an active transient rental license, allowing for legal short-term rental operations across all units — a highly sought-after advantage in this part of Miami-Dade County. Additionally, the property is located in the Main Street Zone 4 zoning district, which permits up to 36 units per acre. This opens the door for potential redevelopment into up to six townhomes, offering future upside for developers or investors seeking added value. Ideally positioned in the heart of El Portal, the property offers immediate access to major economic drivers and lifestyle amenities. It is located just minutes from Miami’s MiMo District, Little River, and Miami Shores, areas experiencing significant revitalization with new restaurants, art galleries, and boutique shops. Downtown Miami and the Design District are less than 15 minutes away, providing access to major employment hubs, luxury retail, and world-class dining. Additionally, Miami International Airport is within a 20-minute drive, offering convenience for short-term guests. El Portal Apartments represents a rare opportunity to acquire a stabilized, turnkey asset in a highly supply-constrained and appreciating submarket. With strong in-place cash flow, upside through further optimization of rental strategy, and superior physical improvements, this property is well-positioned to deliver consistent returns and long-term value growth in one of Miami’s most dynamic neighborhoods.