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Ibiza Apartments 1553 SW 2nd St 21 Unit Apartment Building $6,500,000 ($309,524/Unit) Miami, FL 33135
Investment Highlights
- Zoned T5-L, supporting continued residential use and short-term rental
- Gated on-site parking and in-unit washer/dryer in every unit
- 2009 construction — turn-key, loft-style layouts with central A/C, and no major capital projects required
Executive Summary
Situated on SW 2nd Street in the heart of East Little Havana, this 2009- construction apartment building consists of 21 residential units totaling 22,336 SF on a 15,000 SF lot, offering turn-key in-place income and significant long-term investment potential in one of Miami's most strategically positioned urban submarkets.
East Little Havana continues to experience substantial growth due to its central location and connectivity to Miami's major employment and lifestyle centers, including Downtown Miami, Brickell, the Health District, and Miami International Airport. The property benefits from direct access via HWY 836, a location just one block from loanDepot Park, and proximity to Calle Ocho, one of Miami's most recognized cultural corridors.
Constructed in 2009, the asset is a genuinely turn-key offering that spares an investor the major capital projects typical of older Little Havana stock. Each of the 21 one-bedroom units features 1.5 baths, loft-style layouts, central A/C, and an in-unit washer/dryer, with gated on-site ground-floor parking and the option to sub-meter individual water meters. With strong in-place rents and a clear mark-to-market runway, this building represents a durable income-producing asset with meaningful rent upside.
East Little Havana continues to experience substantial growth due to its central location and connectivity to Miami's major employment and lifestyle centers, including Downtown Miami, Brickell, the Health District, and Miami International Airport. The property benefits from direct access via HWY 836, a location just one block from loanDepot Park, and proximity to Calle Ocho, one of Miami's most recognized cultural corridors.
Constructed in 2009, the asset is a genuinely turn-key offering that spares an investor the major capital projects typical of older Little Havana stock. Each of the 21 one-bedroom units features 1.5 baths, loft-style layouts, central A/C, and an in-unit washer/dryer, with gated on-site ground-floor parking and the option to sub-meter individual water meters. With strong in-place rents and a clear mark-to-market runway, this building represents a durable income-producing asset with meaningful rent upside.
Property Facts
| Price | $6,500,000 | Building Class | C |
| Price Per Unit | $309,524 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 13,037 SF |
| No. Units | 21 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2009 |
| Apartment Style | Low-Rise | Parking Ratio | 1.99/1,000 SF |
| Zoning | T5-L | ||
| Price | $6,500,000 |
| Price Per Unit | $309,524 |
| Sale Type | Investment |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 13,037 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2009 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | T5-L |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 21 | - | 736 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 01-4102-006-1570 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,778,940 |
Property Taxes
Parcel Number
01-4102-006-1570
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,778,940
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Ibiza Apartments | 1553 SW 2nd St
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