Log In/Sign Up
Your email has been sent.
1044 SW 3rd St 12 Unit Apartment Building $2,450,000 ($204,167/Unit) 4.33% Cap Rate Miami, FL 33130
Investment Highlights
- Very well maintained building with recent upgrades
- Upside in rental income
- Impact windows and newer stucco
- Off-Street Parking and laundry room
- Central air-conditioning & heat
- Located between Flagler Street and SW 8th Street
Executive Summary
1044 SW 3rd Street offers an investor the opportunity to acquire a property and immediately add value by increasing the rental income to market levels. The current rent is about $350 below market rents for similar buildings. The building is a twelve-unit, three-story residential building with all one-bedroom/one-bathroom apartments that are approximately 631 SF. The property has some off-street parking in the rear and a small storage building that potentially could be used for a laundry room. The building has central air-conditioning & heat, impact windows, updated stucco and new paint. The building has a T4-R zoning and is situated on a .17 acre lot. The tenants are responsible for electric and the owner pays for water, sewer and trash removal.
1044 SW 3rd Street is located on SW 3rd Street between SW 8th Avenue and SW 12th Avenue. The property's neighborhood is located between Flagler Street and SW 8th Street, two main retail and commercial corridores. The area is very densely populated and is a very strong rental market. Little Havana extremely high occupancy can be contributed to its excellent location right in the middle of South Florida's major employment centers including the Health District to the north, Downtown Miami, Brickell and Port Miami to the east, Coconut Grove to the South and Coral Gables and Miami International Airport to the West.
1044 SW 3rd Street is located on SW 3rd Street between SW 8th Avenue and SW 12th Avenue. The property's neighborhood is located between Flagler Street and SW 8th Street, two main retail and commercial corridores. The area is very densely populated and is a very strong rental market. Little Havana extremely high occupancy can be contributed to its excellent location right in the middle of South Florida's major employment centers including the Health District to the north, Downtown Miami, Brickell and Port Miami to the east, Coconut Grove to the South and Coral Gables and Miami International Airport to the West.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$208,704
|
$26.53
|
| Other Income |
$2,880
|
$0.37
|
| Vacancy Loss |
$10,435
|
$1.33
|
| Effective Gross Income |
$201,149
|
$25.57
|
| Taxes |
$37,609
|
$4.78
|
| Operating Expenses |
$57,457
|
$7.30
|
| Total Expenses |
$95,066
|
$12.08
|
| Net Operating Income |
$106,083
|
$13.48
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $208,704 |
| Annual Per SF | $26.53 |
| Other Income | |
|---|---|
| Annual | $2,880 |
| Annual Per SF | $0.37 |
| Vacancy Loss | |
|---|---|
| Annual | $10,435 |
| Annual Per SF | $1.33 |
| Effective Gross Income | |
|---|---|
| Annual | $201,149 |
| Annual Per SF | $25.57 |
| Taxes | |
|---|---|
| Annual | $37,609 |
| Annual Per SF | $4.78 |
| Operating Expenses | |
|---|---|
| Annual | $57,457 |
| Annual Per SF | $7.30 |
| Total Expenses | |
|---|---|
| Annual | $95,066 |
| Annual Per SF | $12.08 |
| Net Operating Income | |
|---|---|
| Annual | $106,083 |
| Annual Per SF | $13.48 |
Property Facts
| Price | $2,450,000 | Property Subtype | Apartment |
| Price Per Unit | $204,167 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.33% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 11.74 | Building Size | 7,572 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Zoning | T4-R | ||
| Price | $2,450,000 |
| Price Per Unit | $204,167 |
| Sale Type | Investment |
| Cap Rate | 4.33% |
| Gross Rent Multiplier | 11.74 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,572 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Zoning | T4-R |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,532 | 631 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01-4102-005-3780 | Total Assessment | $1,695,760 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $37,609 ($4.97/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
01-4102-005-3780
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,695,760 (2025)
Annual Taxes
$37,609 ($4.97/SF)
Tax Year
2026
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1044 SW 3rd St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.