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.