305-613-4507
3702 NW 23rd Ave, Miami, FL for Sale
Apartments - FOR SALE
1/13
null | Request Cap Rate

3702 NW 23rd Ave
Miami, FL 33142
Allapattah


HIGHLIGHTS

  • Newly constructed 16-unit multifamily property in the heart of Allapattah.
  • Concrete block construction completed in 2026.
  • Market-aligned unit mix of one-bedroom and two-bedroom residences.
  • Opportunity Zone 2.0 eligible site.

OVERVIEW

Costa Calma presents the opportunity to acquire a newly constructed 16-unit multifamily asset in Miami's Allapattah neighborhood, a centrally located urban submarket positioned between Downtown Miami, Wynwood, and the Miami Health District. Completed in 2026, the three-story property consists of a mix of one-bedroom and two-bedroom residences designed to align with the area's workforce housing demand profile. The asset offers investors the ability to acquire new construction product without the deferred maintenance considerations commonly associated with older multifamily inventory throughout the surrounding urban core. The property's location provides convenient access to major employment centers, healthcare institutions, transportation infrastructure, and entertainment destinations that support year-round rental demand. Residents are within close proximity to the Miami Health District, one of the nation's largest medical districts, Wynwood's employment and cultural amenities, Downtown Miami, and multiple Metrorail stations. Connectivity is further enhanced by access to major transportation corridors including I-95, SR-836, and Miami International Airport. Nearby demand generators include River Landing, the Design District, Midtown, Kaseya Center, PortMiami, and LoanDepot Park, creating a broad employment and lifestyle base that supports renter demand across multiple industries. The property's boutique scale differentiates it from the larger institutional multifamily communities delivered throughout the broader Miami market while benefiting from the same urban-core fundamentals driving continued investment in the area. With projected annual market rent of $559,200 and a projected first-year net operating income of $363,820, Costa Calma offers investors a newly delivered multifamily asset positioned within one of Miami's most active redevelopment corridors.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

16

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Costa Calma

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,927 SF

ZONING

6107

APN/PARCEL ID

0131220081650

ASK ABOUT THIS PROPERTY

Virgilio Fernandez, CCIM, MSIRECushman & WakefieldMore Info
305-613-4507

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Virgilio Fernandez, CCIM, MSIRECushman & WakefieldMore Info
305-613-4507

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