931 SW 3rd St - Apartments FOR SALE


Miami, FL 33130- Little Havana
$18,500,000 USD
305-340-8901
931 SW 3rd St, Miami, FL for Sale
$18,500,000 USD
Apartments - FOR SALE
1/87
null | Request Cap Rate

931 SW 3rd St
Miami, FL 33130
Little Havana


HIGHLIGHTS

  • 2.16 acre site, eligible by right for zoning variance to get large development potential with premium density
  • Rare Urban Garden Apartment Community, offers operational scale, enduring land value, and a residential character

OVERVIEW

Presenting a rare opportunity to acquire a 79-unit garden apartment community spanning 2.16 acres in East Little Havana — an increasingly scarce combination of scale, land, and low-density residential character within Miami's urban core. Originally developed in 1947, the property consists of multiple residential structures in a garden- style setting distinguished by expansive open areas, mature landscaping, and generous green space. The property features a diversified unit mix of 29 two-bedroom residences, 46 one-bedroom residences, and 4 studio apartments, providing broad tenant appeal and durable leasing flexibility. The site's configuration and significant land component create a setting that is increasingly difficult to replicate under today's development conditions. With current in-place gross income of $1,336,754 and pro forma gross income of $1,990,800, the portfolio presents a compelling value- add opportunity with clear rent upside — units currently average below market, offering an investor a 5.93% pro forma cap rate. Residents benefit from convenient access to Brickell, Downtown Miami, and the Health District while remaining immersed in the culture, dining, and everyday conveniences that define Little Havana.

FOR SALE DETAILS

PRICE

$18,500,000 USD

PRICE/SF

$357 USD /SF

# OF UNITS

79

PRICE/UNIT

$234,177

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

910 SW 2 ST / 931 SW 3 ST

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1946

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.16 AC

LAND SF

94,133 SF

ZONING

T4-R

APN/PARCEL ID

01-4138-003-1330,01-4138-003-1340

ASK ABOUT THIS PROPERTY

Mauricio VillasusoFausto Commercial Realty ConsultantsMore Info
305-340-8901

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Mauricio VillasusoFausto Commercial Realty ConsultantsMore Info
305-340-8901

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