2400 NW 16th Street Rd - Apartments FOR SALE


Miami, FL 33125- Little Havana
$9,000,000 USD
954-995-8360
2400 NW 16th Street Rd, Miami, FL for Sale
$9,000,000 USD
Apartments - FOR SALE
1/44
null | 6.02% Cap Rate

2400 NW 16th Street Rd
Miami, FL 33125
Little Havana


HIGHLIGHTS

  • Lots of Natural Light
  • Hurricane-proof windows
  • Zoning allows up to 5 floors.
  • New Elevator
  • Successfully completed its 40-year recertification
  • Stable tenant base

OVERVIEW

Exceptional 27-unit multifamily asset in the heart of Little Havana, offering strong in-place income with clear value-add potential. The property benefits from a stable tenant base, with many long-term residents, allowing for a strategic repositioning through rent optimization and selective upgrades. Units consistently lease quickly, resulting in minimal vacancy and reliable cash flow. The building features central A/C, a new elevator, a swimming pool, upgraded on-site laundry facilities, hurricane-impact windows, and ample parking. The property has successfully completed its 40-year recertification, providing additional confidence in its structural and compliance status—an important consideration for long-term investors. Strategically located just minutes from Brickell, Downtown Miami, and Coral Gables, the asset is further enhanced by its proximity to major demand drivers, including the upcoming Freedom Park Miami and LoanDepot Park. Zoning allows for up to five stories, presenting a compelling redevelopment or expansion opportunity with the potential to add an additional floor, increase density, and significantly enhance long-term asset value.

FOR SALE DETAILS

PRICE

$9,000,000 USD

PRICE/SF

$348 USD /SF

# OF UNITS

27

PRICE/UNIT

$333,333

CAP RATE

6.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1974

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

commercial

APN/PARCEL ID

01-3134-023-0010

ASK ABOUT THIS PROPERTY

J. Esteban GarciaThe Keyes CompanyMore Info
954-995-8360

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J. Esteban GarciaThe Keyes CompanyMore Info
954-995-8360

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