1860 NW 24th Ave - Apartments FOR SALE


Miami, FL 33125- Allapattah
$2,950,000 USD
954-487-1934
1860 NW 24th Ave, Miami, FL for Sale
$2,950,000 USD
Apartments - FOR SALE
1/39
null | 5.17% Cap Rate

1860 NW 24th Ave
Miami, FL 33125
Allapattah


HIGHLIGHTS

  • Rare Opportunity To Acquire Newly Constructed Multifamily Asset In The Heart Of Miami With Seller Financing Available
  • Constructed To Latest Building Codes - Hurricane And Flood Proof - Concrete Roof + Hurricane-Impact Windows/Doors - Low Insurance Costs
  • Property Features All Large 3 Bedroom 2 Bathroom Units Around 1,000 Sq Ft Each With Modern, Premium Finishes And High-End Appliances
  • Property Also Has Sizable Storage/Flex Space Around 1,100 Sq Ft Which Can Be Rented For Variety Of Uses To Maximize Returns
  • Separately Metered Utilities For Low Operating Expenses And Ample On-Site/Covered Parking Spaces
  • Prime Allapattah Location Close To Restaurants, Retailers, Schools, Healthcare, Public Transportation Stops, Recreation, And More

OVERVIEW

Sago Palms presents an extremely rare opportunity to acquire a recently constructed multifamily asset in Miami, offering a total of 11,077 square feet across six well-designed residential units. Built in 2022, the property delivers modern construction quality and efficiency, minimizing near-term capital expenditure while providing investors with a stable, income-producing asset. Each unit is thoughtfully configured as a spacious three-bedroom, two-bathroom layout, averaging approximately 1,000 square feet—an increasingly sought-after unit mix that caters to families and shared living arrangements. The property features central air conditioning throughout, along with private balconies that enhance tenant experience and livability. Utilities are separately metered as well for both water and electricity, providing efficient operations and maximizing net operating income. Covered parking further elevates the asset, providing added value to tenants given the scarcity of parking in the area. Further enhancing the investment profile, the property includes a large, dedicated storage/flex space that can be utilized for a variety of purposes, offering an additional revenue stream with minimal overhead. Zoned T4-R, Sago Palms benefits from flexible residential zoning that supports long-term investment stability and potential upside. The combination of modern construction, large unit layouts, supplemental income potential, and desirable amenities positions the asset as an attractive option for multifamily and low-rise/garden investors seeking a turnkey investment with durable income and operational upside.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$266 USD /SF

# OF UNITS

6

PRICE/UNIT

$491,667

CAP RATE

5.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sago Palms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2022

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

T4-R

APN/PARCEL ID

01-3134-030-0540

ASK ABOUT THIS PROPERTY

Alec LauFranklin StreetMore Info
954-487-1934

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Alec LauFranklin StreetMore Info
954-487-1934

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