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About This Property
Exceptional investment opportunity in the heart of Little Havana. This income-producing asset consists of two detached buildings featuring a uniform mix of six fully renovated 2-bedroom, 1-bathroom units. Operating with an efficient 31.83% expense ratio, the property generates a Net Operating Income (NOI) of $115,144.50, representing an approximate 6.98% cap rate based on a $1,649,000 purchase price. Ownership has invested over $200,000 in recent capital improvements, helping minimize future capital expenditures and offering a turnkey ownership opportunity. Major upgrades include complete interior renovations (2022), new permitted roofs (2024), new exterior stucco and paint (2024), roof-mounted mini-split HVAC systems (2024), plumbing improvements, and fully upgraded electrical systems with new main service entries and meter boxes (2025/2026). For additional confidence, the City of Miami 40- and 50-year structural recertifications have been fully completed and approved. Ideally located near Brickell, Downtown Miami, the Health District, and major employment and transportation corridors, the property benefits from strong rental demand and long-term appreciation potential associated with Miami's continued growth and development. A stabilized multifamily asset with established income, extensive recent improvements, completed recertifications, and a central Little Havana location.
Property Features
County
Miami-Dade County
Section
38
Area
4658
Subdivision
HORNERS ADDN
Interior
First Floor Entry, Second Floor Entry, Fire Sprinklers, Other
Cooling
Central Air
Bedrooms
12
Floors
Vinyl
Full Baths
6
Appliances
Other Equipment/Appliances, Refrigerator
Heating
Central
Style
Detached, Two Story, Other
Garage Spaces
0
Construction/Exterior
Concrete Block Construction, Frame With Stucco
Patio / Deck Description
Open Balcony, Open Porch
Exterior
Lighting, Open Balcony
Has a Pool
Possession
Lot Size in Acres
Water
Municipal Water
Sewer
Public Sewer
Lot Size in Sq. Ft.
5800
Has Waterfront
No
Parking Description
Driveway, Other, On Street
View
None
Has Garage
No
Roof/Attic
Composition Roll, Shingle
Senior Community
No
Other Utilities
Property Type
Residential
Pets
Property SubType 2
Single Family Residence
Tax Year
2025
Year Built
1925
Tax Amount
$24355
APN
NA
Square Feet Source
NA
Map
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