2014 SW 3rd St, Miami FL 33135,Miami,Miami-Dade County,Commercial Sale

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Commercial Sale Active

2014 SW 3rd St, Miami FL 33135

$2,500,000

Overview

Income/MultiFamily
Property Type

1971
Year Built

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.

Address

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Address 3rd St
City Miami
State/county Miami-Dade County
Zip/Postal Code 33135

Details

Updated on February 22, 2025 at 5:26 pm

Price: $2,500,000
Year Built: 1971
Property Type: Income/MultiFamily
Property Status: Commercial Sale

Additional details

StreetDirPrefix: SW
PublicSurveyRange: 41
ListAgentKey: 5f71d30145b4b7bbe5d217adbecb0586
TaxLegalDescription: IDLEWILD PARK PB 2-87 LOT 13 LESS N7.5FT BLK 44 LOT SIZE 9250 SQ FT OR 10230-711 1178 1
OnMarketDate: 2024-11-12
ListAgentEmail: [email protected]
ContractStatusChangeDate: 2024-11-12
MajorChangeTimestamp: 2025-02-22T16:24:52.760Z
PhotosCount: 38
StatusChangeTimestamp: 2024-11-21T19:29:24.050Z
PriceChangeTimestamp: 2025-02-22T16:24:52.760Z
ListingKeyNumeric: 403672053
MajorChangeType: Price Decrease
ListingContractDate: 2024-11-12
Zoning: 3900
ListAOR: A-Miami Association of REALTORS
TaxAnnualAmount: 26323
ListOfficeName: Coldwell Banker Realty
OriginatingSystemKey: miamire
BusinessType: Apartments
PhotosChangeTimestamp: 2024-11-21T19:36:19.190Z
OriginatingSystemName: Miami Association of REALTORS®
ListOfficePhone: 954-963-1600
MlsStatus: Active
StreetNumber: 2014
ListingKey: 9dd8e0a8337567a3de92426d144db24f
StateOrProvince: FL
ListOfficeKey: 11ef7d6b73797718ca3ce1b195b203d5
BridgeModificationTimestamp: 2025-02-22T16:25:02.686Z
ListAgentFullName: Alexis Lizama
ListAgentOfficePhone: 954-963-1600
ParcelNumber: 01-41-03-014-2040
OtherExpense: 0
IDXParticipationYN: 1
InternetAddressDisplayYN: 1
ListAgentMlsId: 3438878
ModificationTimestamp: 2025-02-22T16:24:52.760Z
OriginatingSystemID: miamire
PreviousListPrice: 2700000
DaysOnMarket: 102
ListOfficeMlsId: CBRE37
ListAgentDirectPhone: 305-409-3045
StreetNumberNumeric: 2014
PostalCodePlus4: 1826
NumberOfUnitsInCommunity: 0
SyndicationRemarks: 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.
ListAgentStateLicense: 3438878
PublicSurveyTownship: 41
StreetName: 3rd St
ListOfficeFax: 954-987-2478
ListingAgreement: Exclusive Right To Sell
SpecialListingConditions: Sale
OriginalListPrice: 2700000
BuildingAreaUnits: Square Feet
InternetEntireListingDisplayYN: 1
InternetAutomatedValuationDisplayYN: 1
OriginalEntryTimestamp: 2024-11-21T19:29:24.050Z
SourceSystemKey: 403672053
LotSizeSquareFeet: 9250
InternetConsumerCommentYN: 1
BuildingAreaTotal: 7566