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1040 Spring Garden Rd
Miami, FL 33136
Spring Garden 24 · Multifamily Property For Sale
·
24 Units
PROPERTY FACTS
| No. Units | 24 | Lot Size | 0.49 AC |
| Property Type | Multifamily | Building Size | 18,846 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1973 |
| Building Class | C | ||
| Zoning | R-4, Miami | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 18,846 SF |
| No. Stories | 4 |
| Year Built | 1973 |
| Zoning | R-4, Miami |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
SITE AMENITIES
- Laundry Facilities
- Elevator
ABOUT 1040 SPRING GARDEN RD , MIAMI, FL 33136
Marcus & Millichap is pleased to present 1040 Spring Garden Road, located in Miami, Florida. 1040 Spring Garden Road is a three-story apartment building consisting of one studio/one-bathroom unit and 23 one-bedroom/one-bathroom units totaling 18,846 adjusted square feet. The property was built in 1973 & is situated on a 21,294 square foot waterfront lot. 1040 Spring Garden Road features approximately 30 parking spaces on-site and is within walking distance of the Health District and Culmer Metrorail Station. The property features T6-8O zoning which is a mixed-use zoning designation which allows for residential density of 150 units per acre.In addition, hotel, office, retail and other commercial uses are allowed under the T6-8O zoning. The property is being offered at $3,995,000 representing a current cap rate of 4.45%. After increasing rents to market average, the year 1 cap rate is expected to jump to 6.27%.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 23 | - | - |
PROPERTY TAXES
| Parcel Number | 01-3135-007-0040 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,996,065 |
PROPERTY TAXES
