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Key Details
Sold Price $2,500,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,566 sqft
Price per Sqft $330
MLS Listing ID A11697955
Sold Date 05/02/25
HOA Y/N No
Year Built 1971
Annual Tax Amount $26,323
Contingent No Contingencies
Lot Size 9,250 Sqft
Property Sub-Type Multi Family
Property Description
Discover 2014 SW 3 ST, a meticulously maintained 9-unit apartment building in the heart of vibrant Little Havana. This stabilized asset, boasting 100% occupancy, presents a rare opportunity for investors to capitalize on significant rental upside. Currently achieving an average effective rent of $1,988, this property offers a clear path to a 19% increase, aligning with market rents of $2,300-$2,400 for 2/1 units.
Proven Income Stream: Current gross monthly income of $17,900, with a current in place cap rate of 6.18%.
Projected Growth: Potential gross monthly income of $21,150, resulting in a projected cap rate of 6.35% after reassessment of taxes and insurance, achievable through strategic rent adjustments.
Location
State FL
County Miami-dade
Area 99
Exterior
Private Pool Yes
Others
Tax ID 01-41-03-014-2040
Financing Cash
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Bought with Coldwell Banker Realty
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Monica Brisson
Broker Associate | License ID: 0645316
Broker Associate License ID: 0645316