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1701 SW 3rd St 14 Unit Apartment Building $4,350,000 ($310,714/Unit) 5.24% Cap Rate Miami, FL 33135
INVESTMENT HIGHLIGHTS
- Great Corner visibility
- Rents are low for the area little fixing up and rents could be increased
- Can be put together with the adjacent church property could be prime for development
EXECUTIVE SUMMARY
This 14-unit made up of 13 2/2's and one 1bedroom apartment building sits in a dynamic and rapidly evolving area of Miami. Positioned in a zone with mixed-use potential—residential, multifamily, and commercial—the property offers excellent flexibility for investors and developers alike. Just minutes from the Miami River, Downtown, Brickell, Calle 8, the Medical Health District, Miami International Airport, Coral Gables, and Coconut Grove, this prime location is at the heart of Miami’s most vibrant and connected neighborhoods. There is a 29,250sqft lot available to the North of this property. Please do not disturb tenants.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $4,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $310,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.42 AC |
| Cap Rate | 5.24% | Building Size | 12,894 SF |
| No. Units | 14 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1968 |
| Zoning | SD-14 - T5-Open. THE URBAN CENTER ZONE consists of higher Density Mixed-Use Building types that accommodate retail and office Uses, rowhouses and apartments. | ||
| Price | $4,350,000 |
| Price Per Unit | $310,714 |
| Sale Type | Investment |
| Cap Rate | 5.24% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 12,894 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Zoning | SD-14 - T5-Open. THE URBAN CENTER ZONE consists of higher Density Mixed-Use Building types that accommodate retail and office Uses, rowhouses and apartments. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 13 | $2,050 | - |
1 1
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 01-4103-014-1360 | Total Assessment | $2,181,509 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
01-4103-014-1360
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$2,181,509 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1701 SW 3rd St
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