Little Havana 47 Units / Covered Land Play

Apartment Buildings

Created date: October 17, 2024

Date last updated: October 17, 2024

Portfolio Description

Eleventrust is proud to present a rare assemblage opportunity near the vibrant Miami River, offering a unique investment in one of Miami’s most sought-after locations. This assemblage consists of five parcels of land totaling over 45,000 square feet, all zoned T-6-8 under the Miami 21 Zoning Code, making it a prime candidate for future redevelopment.

Property Breakdown:

Property #1: 690 NW 3rd St

Built: 1971

Lot: 15,000 SF

Units: 16 units with a mix of one-bedroom and two-bedroom configurations

Living Area: 13,626 SF

Parking: On-site parking with gated entry

Property #2: 221 NW 7th Ave

Built: 1949

Lot: 8,846 SF

Units: 20

Living Area: 5,110 SF

Parking: On-site parking with gated entry

Property #3: 211 NW 7th Ave

Built: 1949

Lot: 6,143 SF

Units: 4

Living Area: 3,859 SF

Parking: Off-Street

Property #4: 661 Nw 2 St

Built: 1920s

Lot: 7,500 SF

Units: 4

Living Area: 3,774 SF

Parking: On-Site

Property #5: 663 NW 2nd St:

Built: 1933

Lot: 7,500 SF

Units: 2

Living Area: 2,670 SF

Parking: On-site

Income Potential: Currently generating over $850K in income, with the potential to exceed $1M by adjusting rents to market rates.

Redevelopment Opportunity: This is a perfect covered land play for future redevelopment in a rapidly growing area.

Available

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Due Digilence Documents

Broker Details

Rafael Fermoselle Rafael Fermoselle

(305) 299-4136

Portfolio Key Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$ 12,000,000
No. of Units:	47
Cap Rate:	4.22%
Building Size:	29,725 Sq ft
Lot Size:	45,089 Sq ft
Opportunity Zone:	No
Price per unit:	$255,319