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Multifamily

Summit 111

111 SW 17th Ct, Miami, FL 33135

Listing Price: $1,350,000

Cap Rate
4.60%
Number of Units
9
GRM
11.36
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$315.05
Gross SF
4,285

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Summit 111, a nine-unit building located at 2131 SW 2nd Street in Miami, Florida. Summit 111 is a two two-story building constructed of concrete block with a flat roof. The unit mix is comprised of four, one-bedroom/one-bathroom units, four, two-bedroom/one-bathroom units and one commercial space being used as a barber shop. The residential units have tile floors and a mix of central and wall air-conditioning units. Utilities such as water, sewer and trash removal are included in the monthly rent.

Summit 111 is located in the highly sought-after Little Havana neighborhood. This rental market has become the epicenter for rental properties 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, 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, there is very little supply of units. 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. In addition, Summit 111 is within close distance Citrus Grove Middle School and Citrus Grove Elementary School, Marlins Park, Shenandoah Elementary School and Sedanos Supermarket.

Investment Highlights

  • Concrete Block Construction
  • Walking Distance from the Marlins Park
  • Off-Street Parking
  • Mix of One and Two Bedroom Units
  • Easy to Manage Property
  • Excellent Little Havana Location

Exclusively Listed By

Listing Price: $1,350,000

Cap Rate
4.60%
Number of Units
9
GRM
11.36
Occupancy
95.0%
Price/Unit
$150,000
Price/Gross SF
$315.05
Gross SF
4,285

Investment Highlights

  • Concrete Block Construction
  • Walking Distance from the Marlins Park
  • Off-Street Parking
  • Mix of One and Two Bedroom Units
  • Easy to Manage Property
  • Excellent Little Havana Location

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Summit 111, a nine-unit building located at 2131 SW 2nd Street in Miami, Florida. Summit 111 is a two two-story building constructed of concrete block with a flat roof. The unit mix is comprised of four, one-bedroom/one-bathroom units, four, two-bedroom/one-bathroom units and one commercial space being used as a barber shop. The residential units have tile floors and a mix of central and wall air-conditioning units. Utilities such as water, sewer and trash removal are included in the monthly rent.

Summit 111 is located in the highly sought-after Little Havana neighborhood. This rental market has become the epicenter for rental properties 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, 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, there is very little supply of units. 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. In addition, Summit 111 is within close distance Citrus Grove Middle School and Citrus Grove Elementary School, Marlins Park, Shenandoah Elementary School and Sedanos Supermarket.

Exclusively Listed By

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