954-245-3492
1710 SW 27th Ave, Miami, FL for Sale
Apartments - FOR SALE
1/18
null | Request Cap Rate

1710 SW 27th Ave
Miami, FL 33145
Coral Way


HIGHLIGHTS

  • 2021 Construction, 32-Unit, 8-Story Mid-Rise Apartment Building with Luxury Finishes
  • Passive Income – Currently Leased by a Vacation Rental Operator (Roami at Grove27)
  • Large 1, 2 & 3 Bedrooms from 972 – 1,304 SF w/Private Balconies and Washers/Dryers
  • Flat Concrete Roof, Gated Parking Garage, Lobby, Terrace on 6th Floor, Single Elevator
  • $96,595 Avg Household Income and 10.88% Population Growth Since 2010 (Experian)
  • Proximate to Coral Way, Coral Gables, Coconut Grove and Downtown Miami (Brickell)

OVERVIEW

Adam Marcuvitz, Joseph Thomas, and the Thomas Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale Grove 27, a 32-unit multifamily property built in 2019, located in Miami, Florida. The property is being offered for sale unpriced, to be determined by the market. Grove 27 is an eight-story, CBS building featuring 32 apartments and 59,551 square feet (GBA) on a 13,253-square-foot lot (per the Miami-Dade Property Appraiser). The unit mix includes (12) one-bedroom | one-bathroom apartments ranging from 725 to 770 square feet, (2) one-bedroom | one-and-a-half-bathroom apartments ranging from 884 to 1,088 square feet, (14) two-bedroom | two-bathroom apartments ranging from 1,015 to 1,085 square feet and (4) three-bedroom | two-bathroom apartments at 1,470 square feet. Each unit features central air conditioning, contemporary finishes, and in-unit washers and dryers. The property features a flat (concrete) roof, 6th-floor outdoor terrace, single elevator, two-level parking garage with 51 total parking spaces, including lifts (some spaces are large enough for tandem parking). Currently, the property operates as Roami at Grove27 with Roami (a national vacation rental operator) overseeing the daily management. An incoming investor has the opportunity to either negotiate a new lease with Roami, self-manage the property as vacation rentals (given the proven business model) or convert the property (back) to a market-rate apartment building.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

32

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grove27

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

8

YEAR BUILT

2019

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,253 SF

ZONING

T6-8-O

APN/PARCEL ID

01-4109-040-0010

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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