Multifamily

Southwest Seventh Apartments

1553 SW 7th Street, Miami, FL 33135

Listing Price: $2,300,000

Cap Rate
3.09%
Number of Units
16
GRM
10.59
Occupancy
67.7%
Price/Unit
$143,750
Price/Gross SF
$267.16
Gross SF
8,609

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Southwest Seventh Apartments, a 16-unit building located at 1553 SW 7th Street in Miami, Florida. Southwest Seventh Apartments is a two-story building constructed of concrete block, wood frame on the interiors and a flat roof. The property has 12 one-bedroom / one-bathroom units and four two-bedroom / one-bathroom units. Utilities such as water, sewer and trash removal are included in the rent. The property has the 40-year recertification and the roof was recently repaired.

Southwest Seventh Apartments is located within the highly sought-after West Little Havana neighborhood. This rental market has become one the most fast growing neighborhoods in Miami-Dade County. There are over 510,000 residents within 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; therefore; the supply for rental units is 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, Southwest Seventh Apartments is situated in one of the best portions of Little Havana between Southwest 15th Avenue and Southwest 16th Avenue and just one block north of the well know Southwest 8th Street (Calle Ocho). This block has become the number one tourist destination in Little Havana. Thousands of people visit this area every month providing support to the local economy.

Investment Highlights

  • Partially Renovated Property
  • Easy to Manage Property
  • Laundry Facility
  • High Occupancy Rate
  • Walking Distance from Public Transportation
  • Upside in Rental Income

Exclusively Listed By

Multifamily

Southwest Seventh Apartments

Listing Price: $2,300,000

Cap Rate
3.09%
Number of Units
16
GRM
10.59
Occupancy
67.7%
Price/Unit
$143,750
Price/Gross SF
$267.16
Gross SF
8,609

Investment Highlights

  • Partially Renovated Property
  • Easy to Manage Property
  • Laundry Facility
  • High Occupancy Rate
  • Walking Distance from Public Transportation
  • Upside in Rental Income

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Southwest Seventh Apartments, a 16-unit building located at 1553 SW 7th Street in Miami, Florida. Southwest Seventh Apartments is a two-story building constructed of concrete block, wood frame on the interiors and a flat roof. The property has 12 one-bedroom / one-bathroom units and four two-bedroom / one-bathroom units. Utilities such as water, sewer and trash removal are included in the rent. The property has the 40-year recertification and the roof was recently repaired.

Southwest Seventh Apartments is located within the highly sought-after West Little Havana neighborhood. This rental market has become one the most fast growing neighborhoods in Miami-Dade County. There are over 510,000 residents within 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; therefore; the supply for rental units is 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, Southwest Seventh Apartments is situated in one of the best portions of Little Havana between Southwest 15th Avenue and Southwest 16th Avenue and just one block north of the well know Southwest 8th Street (Calle Ocho). This block has become the number one tourist destination in Little Havana. Thousands of people visit this area every month providing support to the local economy.

Exclusively Listed By

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