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1701 SW 3rd St 13 Unit Apartment Building $4,350,000 ($334,615/Unit) 5.24% Cap Rate Miami, FL 33135
Investment Highlights
- Fourteen-unit building with a strong rent roll, located in the heart of Miami.
- Immediate proximity to major employment and cultural hubs, including Brickell and Downtown.
- Optional adjacent lot available for future expansion opportunities.
- Zoned for mixed-use, offering redevelopment potential for multifamily and commercial uses.
- Quick access to Miami International Airport and major transportation corridors.
Executive Summary
This 14-unit multi-family property offers a compelling investment opportunity in one of Miami’s most dynamic and connected neighborhoods. Featuring thirteen two-bedroom/one-bath units and one single-bedroom unit, the building captures consistent rental demand in a prime urban setting.
Located in a mixed-use zone, the property holds potential for residential, multi-family, and commercial development, positioning it as a versatile asset for both investors seeking immediate returns and developers eyeing future repositioning possibilities. Its central location places it within minutes of the Miami River, Downtown Miami, Brickell, Calle Ocho, the Medical District, Miami International Airport, Coral Gables, and Coconut Grove. This connectivity ensures enduring tenant appeal and long-term property performance.
A 29,250 sq. ft. lot is also available directly north of the property, adding expansion potential for investors seeking scalable opportunities. Please note that tenant arrangements are in place—do not disturb occupants.
Located in a mixed-use zone, the property holds potential for residential, multi-family, and commercial development, positioning it as a versatile asset for both investors seeking immediate returns and developers eyeing future repositioning possibilities. Its central location places it within minutes of the Miami River, Downtown Miami, Brickell, Calle Ocho, the Medical District, Miami International Airport, Coral Gables, and Coconut Grove. This connectivity ensures enduring tenant appeal and long-term property performance.
A 29,250 sq. ft. lot is also available directly north of the property, adding expansion potential for investors seeking scalable opportunities. Please note that tenant arrangements are in place—do not disturb occupants.
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 | Building Class | C |
| Price Per Unit | $334,615 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 12,894 SF |
| Cap Rate | 5.24% | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.07/1,000 SF |
| Apartment Style | Low-Rise | ||
| 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 | $334,615 |
| Sale Type | Investment |
| Cap Rate | 5.24% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 12,894 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.07/1,000 SF |
| 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
Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
60/100
Fairly bikeable
50/100
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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