1274 W Flagler St - Apartments FOR SALE


Miami, FL 33135- Little Havana
$6,500,000 USD
954-803-9514
1274 W Flagler St, Miami, FL for Sale
$6,500,000 USD
Apartments - FOR SALE
1/15
null | 6.58% Cap Rate

1274 W Flagler St
Miami, FL 33135
Little Havana


HIGHLIGHTS

  • 100% occupied - 27 studios, 3 one bedrooms, 7 commercial retail units
  • Value add opportunity through renovations and under market rents
  • Core Location directly across from Sodano's Grocery Store
  • Manager in place and willing to stay on board
  • 40 year re certification in place

OVERVIEW

This property features a total of 37 units, comprising 30 residential units and 7 commercial retail spaces. The residential component includes 27 studios and 3 one-bedroom units. The entire property can be delivered 100% occupied, highlighting its strong tenant demand and stability. There is a significant value-add opportunity for investors, as the current rents are below market for both residential and commercial units. Renovations to common areas and exterior of the building could potentially increase the opportunity as well. The building received its 40-year recertification in 2016, demonstrating compliance with local structural and safety requirements. Renovations to most units already been made, including the installation of new appliances, updated kitchens and bathrooms, and upgraded electrical and plumbing systems. Historically, the property has experienced minimal vacancy. The property management company is willing to stay on board and is local to the area for tenants. Located in the heart of Little Havana, the property offers excellent access to Downtown Miami and Brickell, with ample public transportation options nearby. Adding to the convenience, a Sedano’s grocery store is located directly across the street, providing easy access to daily essentials for tenants. For further details, including the rent roll and financials, please refer to the offering memorandum.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$364 USD /SF

# OF UNITS

37

PRICE/UNIT

$175,676

CAP RATE

6.58%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

T6-12-O

APN/PARCEL ID

01-4102-006-0700

ASK ABOUT THIS PROPERTY

Donald ShapiroCompassMore Info
954-803-9514

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Donald ShapiroCompassMore Info
954-803-9514

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