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550 SW 10th St, Miami FL 33130,Miami,Miami-Dade County,Commercial Sale

$2,300,000

Commercial Sale Active Under Contract

550 SW 10th St, Miami FL 33130

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Commercial Sale Active Under Contract

550 SW 10th St, Miami FL 33130,Miami,Miami-Dade County,Commercial Sale

550 SW 10th St, Miami FL 33130

$2,300,000

Overview

Income/MultiFamily
Property Type

1954
Year Built

Description

Welcome to Havana House. This 8-unit building comprises large one-bedroom, one-bath units, all with assigned parking. Three of the units have been remodeled, and the remaining five are in good condition. The roof was replaced in 2024, and all windows are impact-resistant. Plumbing was upgraded in 2023, along with the laundry facility. The building was recently painted and is ready for sale. All tenants are on month-to-month leases. Its proximity to Brickell and Little Havana makes this an ideal location for short-term rentals. The property has completed its 40-year recertification. With market rent at $2,000 per unit, the yearly income can be $192,000, with a CAP rate of over 7.2%. Please call the listing agent and do not disturb the tenants.

Address

Open on Google Maps

Address 10th St
City Miami
State/county Miami-Dade County
Zip/Postal Code 33130

Details

Updated on April 27, 2025 at 10:31 pm

Property ID: A11605993
Price: $2,300,000
Year Built: 1954
Property Type: Income/MultiFamily
Property Status: Commercial Sale

Additional details

StreetDirPrefix: SW
PublicSurveyRange: 2
ListAgentKey: df311b5b3299472fde2ca9086bd3d9b4
InsuranceExpense: 5700
TaxLegalDescription: CITY OF MIAMI SOUTH PB B-41 LOT 6 BLK 79 LOT SIZE 50.000 X 150 OR 12678-417 1085 5
OnMarketDate: 2024-06-13
ListAgentEmail: [email protected]
ContractStatusChangeDate: 2025-04-25
MajorChangeTimestamp: 2025-04-27T20:12:45.373Z
Flooring: Tile,Wood
PhotosCount: 33
Cooling: Wall/Window Unit(s)
StatusChangeTimestamp: 2025-04-27T20:12:45.373Z
SecurityFeatures: Other Fire Protection,Motion Detector,Security Lights
FinancialDataSource: Owner Provided
BuildingName: HAVANA HOUSE
ManagerExpense: 0
PriceChangeTimestamp: 2024-06-12T18:36:34.727Z
ListingKeyNumeric: 397102798
MajorChangeType: Active Under Contract
ListingContractDate: 2024-06-13
Zoning: 3900
MaintenanceExpense: 500
ListAOR: A-Miami Association of REALTORS
TaxAnnualAmount: 15349
ListOfficeName: Douglas Elliman
CurrentUse: Income Non-Waterfront
OriginatingSystemKey: miamire
BusinessType: Apartments,Residential-Multi-Family
PhotosChangeTimestamp: 2024-12-31T17:41:39.559Z
OriginatingSystemName: Miami Association of REALTORS®
ListOfficePhone: 305-695-6060
MlsStatus: Active With Contract
StreetNumber: 550
GrossScheduledIncome: 192000
LeaseTerm: Month To Month
ListingKey: 8303bc80720e765d3d8ee2bd3c56fc42
StateOrProvince: FL
ListOfficeKey: 0b27533db30410a93b787fd9f824ad3a
Directions: SW 8STREET TO 5 AVENUE SW GO SOUTH TO 10 STREET GO WEST TO PROPERTY
BridgeModificationTimestamp: 2025-04-27T20:15:12.014Z
ListAgentFullName: Miguel Solis
Roof: Shingle
ParkingTotal: 8
ListAgentOfficePhone: 305-695-6060
Stories: 2
GrossIncome: 179400
ParcelNumber: 01-02-07-090-1050
ListingTerms: All Cash,Conventional/Refinance
OperatingExpense: 21774
YearBuiltDetails: Resale
OtherExpense: 11160
Possession: Funding
LeaseConsideredYN: 1
IDXParticipationYN: 1
SpecialLicenses: City Licenses
InternetAddressDisplayYN: 1
Contingency: Pending Inspections
ListAgentMlsId: 0624178
WaterSource: Public
StoriesTotal: 2
ModificationTimestamp: 2025-04-27T20:12:45.373Z
OriginatingSystemID: miamire
DaysOnMarket: 318
NetOperatingIncome: 157826
ListOfficeMlsId: DEOM19
Inclusions: Building & Land,Leases,License
ListAgentDirectPhone: 305-343-9554
PendingTimestamp: 2025-04-25T04:00:00.000Z
StreetNumberNumeric: 550
PostalCodePlus4: 3819
NumberOfUnitsInCommunity: 7
Sewer: Other
SyndicationRemarks: Welcome to Havana House. This 8-unit building comprises large one-bedroom, one-bath units, all with assigned parking. Three of the units have been remodeled, and the remaining five are in good condition. The roof was replaced in 2024, and all windows are impact-resistant. Plumbing was upgraded in 2023, along with the laundry facility. The building was recently painted and is ready for sale. All tenants are on month-to-month leases. Its proximity to Brickell and Little Havana makes this an ideal location for short-term rentals. The property has completed its 40-year recertification. With market rent at $2,000 per unit, the yearly income can be $192,000, with a CAP rate of over 7.2%. Please call the listing agent and do not disturb the tenants.
Heating: Wall/Window Units
StructureType: Free Standing
TrashExpense: 3720
ListAgentStateLicense: 0624178
PublicSurveyTownship: 2
StreetName: 10th St
ListOfficeFax: 305-695-6301
ListingAgreement: Exclusive Right To Sell
PublicSurveySection: 7
SpecialListingConditions: Sale
NumberOfBuildings: 1
OriginalListPrice: 2300000
BuildingAreaUnits: Square Feet
InternetEntireListingDisplayYN: 1
BuildingFeatures: City Licenses
OriginalEntryTimestamp: 2024-06-14T12:55:14.693Z
SourceSystemKey: 397102798
Ownership: Corporation
LotFeatures: City Location,In Residential Area
DocumentsAvailable: Books & Records,Copy Of Lease(S),Owner Managed
ConstructionMaterials: CBS Construction
SuppliesExpense: 0
LotSizeSquareFeet: 7500
TenantPays: Electricity
Electric: 200+ Amp Service
NewTaxesExpense: 15349
BuildingAreaTotal: 4928