931 SW 3rd Street, Miami, FL 33130

Listing Snapshot

Price

$18,500,000

Days on Site

11 Days

Bedrooms

0

Total Baths

0

Total Sq Ft

58,260 sqft

Lot Size

2.16 Acres

Year Built

1947

Property Type

Commercial

MLS #

A12044485

County

Miami Dade

Status

Active

About This Property

Rare Urban Garden Apartment Community in the Heart of East Little Havana. Spanning 2.16 acres across twocontiguous parcels totaling 79 units and 58,260 SF of building area, this community offers operational scale, enduring land value, & a residential character difficult to replicate in Miami's urban core.Presenting a rare opportunity to acquire a 79-unit garden apartment community spanning 2.16 acres — an increasingly scarce combination of scale, land, & 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 employment centers while remaining immersed in the culture, dining, and everyday conveniences that define Little Havana.

General Features

Property Type

Commercial

Status

Active

Year Built

1947

Lot Size (Acres)

2.16

Total Sq Ft

58,260

Zoning

T4-R

Community & HOA

MLS Area

2410