2400 NW 16th St Rd
Property Description
Exceptional 27-unit multifamily asset in the heart of Little Havana, offering strong in-place income with clear value-add potential. The property benefits from a stable tenant base, with many long-term residents, allowing for a strategic repositioning through rent optimization and selective upgrades. Units consistently lease quickly, resulting in minimal vacancy and reliable cash flow. The building features central A/C, a new elevator, a swimming pool, upgraded on-site laundry facilities, hurricane-impact windows, and ample parking. The property has successfully completed its 40-year recertification, providing additional confidence in its structural and compliance status—an important consideration for long-term investors. Strategically located just minutes from Brickell, Downtown Miami, and Coral Gables, the asset is further enhanced by its proximity to major demand drivers, including the upcoming Freedom Park Miami and LoanDepot Park. Zoning allows for up to five stories, presenting a compelling redevelopment or expansion opportunity with the potential to add an additional floor, increase density, and significantly enhance long-term asset value.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $8,200,000 |
| No. of Units: | 27 |
| Average Occupancy: | 7 |
| Year Built: | 1974 |
| Lot Size: | 0.43 Acres |
| Opportunity Zone: | No |
| Price per unit: | $303,704 |
| Property Website | Click Here |
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