1091 Galiano St - Apartments FOR SALE


Coral Gables, FL 33134- Douglas
$20,000,000 USD
786-522-7076
1091 Galiano St, Coral Gables, FL for Sale
$20,000,000 USD
Apartments - FOR SALE
1/44
null | Request Cap Rate

1091 Galiano St
Coral Gables, FL 33134
Douglas


HIGHLIGHTS

  • Attractive Spread for Condo Conversion: $531 PSF entry cost with comps exceeding $1000+ PSF
  • Luxury 27-Unit Mid-Rise Featuring Spacious Floorplans Averaging 1,395 SF
  • Modern Amenities Include Large Balconys, Pool, Outdoor BBQ Area, Gated Garage, and Climate-Controlled Common Areas
  • Secure Building with Gated Parking Garage, Bicycle Storage, and Dual Elevators
  • Located in Supply-Constrained Coral Gables Market, Offering Strong Demand Fundamentals and Long-Term Rent Growth Potential
  • In-Place Rents Averaging $3.17/SF Are Below Market, Presenting Immediate Upside Through Strategic Rent Adjustments

OVERVIEW

Marcus & Millichap is pleased to offer for sale Gables Galiano located at 1091 Galiano Street in Coral Gables, Florida. This property comprises 27 luxury residential units with a diverse mix of spacious floorplans. This includes eight three-bedroom three-bath units, eight three-bedroom two-bath units, eight two-bedroom two-bath units, and three two-bedroom two-and-a-half-bath townhomes. Each unit offers an average of 1,395 square feet of fully air-conditioned living space. The modern mid-rise construction features floors three through six with ceiling heights of 9 feet 3 inches, while the townhomes showcase impressive 13-foot ceilings, creating an open and airy atmosphere. Every unit includes at least one large private terrace, enhancing the overall living experience. Residents can enjoy a wide range of desirable amenities, including a resort-style pool, an outdoor barbecue area, climate-controlled common areas, and secure bicycle storage. The property also features a gated parking garage with 56 spaces and two elevators for added convenience and security. Currently, in-place rents average $3.17 per square foot, which is below the market rate for comparable Class A properties in the area. This presents a significant opportunity for income growth through strategic rent adjustments. With its strong physical attributes, generous unit sizes, and substantial upside potential, Gables Galiano offers an exceptional investment opportunity for buyers seeking both immediate and long-term returns in a supply-constrained rental market.

FOR SALE DETAILS

PRICE

$20,000,000 USD

PRICE/SF

$435 USD /SF

# OF UNITS

27

PRICE/UNIT

$740,741

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gables Galiano

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

2020

PARKING SPACES

55

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,211 SF

ZONING

5001, 0081

APN/PARCEL ID

03-4108-009-1370

ASK ABOUT THIS PROPERTY

Landy ToledoMarcus & MillichapMore Info
786-522-7076

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Landy ToledoMarcus & MillichapMore Info
786-522-7076

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.