Introducing 2190 SW 14th Terrace, a fully renovated, 100% leased 6-unit multifamily asset in the heart of Shenandoah, one of central Miami's most established rental corridors. A comprehensive 2020 renovation addressed major building components, leaving a turnkey asset with effectively no near-term capex exposure. Scope included a new roof, hurricane-rated impact windows and doors, individual mini-split HVAC in five units (central AC in the sixth), a full interior gut with new tile flooring, fully updated kitchens and bathrooms, new electrical, perimeter fencing, owned coinless laundry, and tankless water heaters. The unit mix consists of 2 studios (approx. 450 SF) and 4 one-bed/one-bath apartments (approx. 600 SF), each with an assigned on-site parking space.
The property delivers stabilized in-place income of $132,000 annually, with all leases running through mid-2027. This provides income visibility and a long runway of operational stability for a new owner, with a clear organic path to $138,000 stabilized gross as four modestly under-market units roll to market on renewal. Centrally positioned minutes from Brickell, the Health District, Coral Gables, Coconut Grove, and Calle Ocho, the property sits at a higher elevation than Miami's coastal submarkets, a growing consideration for lenders and insurers as flood-risk underwriting tightens.