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1528 SW 5th St
Miami, FL 33135
Multifamily Property For Sale
·
15 Units
Investment Highlights
- Well located Little Havana Submarket
- Updated Electric
- Upside in rental income
- Very strong rental market
- Select units have central air-conditioning
Executive Summary
1528 SW 5th Street offers an investor the opportunity to acquire the property and immediately add value by increasing the rental income to market levels.? The current rents are about $225 below market rents for similar buildings.? The building is a 14-unit, two-story residential building with five Studios at about 350 SF and ten one-bedroom & one-bathroom units with about 628 SF.? The property has updated electric and select units have central has been updated throughout the property.? The property has a T4-L zoning and is situated on a .22 acre lot.? The tenants are responsible for electric and the owner pays for water, sewer and trash removal.?
1528 SW 5th Street is located on SW 5th Street between SW 12th Avenue and SW 17th Avenue.? The property’s neighborhood is located between Flagler Street and SW 8th Street, two main retail and commercial corridors.? 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.?
1528 SW 5th Street is located on SW 5th Street between SW 12th Avenue and SW 17th Avenue.? The property’s neighborhood is located between Flagler Street and SW 8th Street, two main retail and commercial corridors.? 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.?
Property Facts
| Price Per Unit | $180,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.70% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 11.07 | Building Size | 8,030 SF |
| No. Units | 15 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | SD-14.1 | ||
| Price Per Unit | $180,000 |
| Sale Type | Investment |
| Cap Rate | 4.70% |
| Gross Rent Multiplier | 11.07 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,030 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1925 |
| Zoning | SD-14.1 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Tile Floors
- High Speed Internet Access
- Refrigerator
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | $1,311 | 350 |
| 1+1 | 10 | $1,377 | 628 |
Property Taxes
| Parcel Number | 01-4102-006-4860 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,810,080 |
Property Taxes
Parcel Number
01-4102-006-4860
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,810,080
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