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2014 SW 3rd St
$2,500,000
2014 SW 3rd St, Miami, FL 33135
7,566 sqft
Building Size
1971
Year Built
Details:
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
Gallery
