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300 Majorca Ave 17 Unit Apartment Building $12,750,000 ($750,000/Unit) 4% Cap Rate Coral Gables, FL 33134
Investment Highlights
- 17 Units Originally Constructed as Condos
- Large Units with Terraces ranging in size from 1,400 SF - 1,900 SF
- Walking Distance to Coral Gables CBD & Shops and Restaurants District
- Unit Mix: 2 Townhouses (2Br/2.5Ba) + 15 - 2 Bedroom / 2 Bath units
- Amenities Include: Fitness Center, Outdoor Grilling Terrace, Covered Parking Onsite
- 2009 Construction
Executive Summary
Marcus & Millichap is proud to offer for sale 300 Majorca Avenue, a very rare opportunity to acquire one of the few "boutique" multifamily rental buildings in Coral Gables. 300 Majorca is a 17-unit apartment building which was completed in 2009, designed by the renowned Coral Gables
architectural firm Bellin & Pratt. The building has a mix of two townhouses and 15 two-bedroom/two-bathroom apartments. Building amenities include under-cover parking, a fitness center, courtyard fountains, lush landscaping, and an outdoor barbecue terrace on the 4th floor.
architectural firm Bellin & Pratt. The building has a mix of two townhouses and 15 two-bedroom/two-bathroom apartments. Building amenities include under-cover parking, a fitness center, courtyard fountains, lush landscaping, and an outdoor barbecue terrace on the 4th floor.
Property Facts
| Price | $12,750,000 | Building Class | B |
| Price Per Unit | $750,000 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 36,808 SF |
| Cap Rate | 4% | Average Occupancy | 0% |
| No. Units | 17 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2009 |
| Property Subtype | Apartment | Parking Ratio | 0.76/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | A-15 - Residential Multi-Family | ||
| Price | $12,750,000 |
| Price Per Unit | $750,000 |
| Sale Type | Investment |
| Cap Rate | 4% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.34 AC |
| Building Size | 36,808 SF |
| Average Occupancy | 0% |
| No. Stories | 4 |
| Year Built | 2009 |
| Parking Ratio | 0.76/1,000 SF |
| Zoning | A-15 - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wheelchair Accessible (Rooms)
Site Amenities
- Courtyard
- Fitness Center
- Gated
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 15 | - | 1,338 - 1,847 |
| 2+2.5 | 2 | - | 1,869 - 1,899 |
Walk Score®
Walker's Paradise (96)
Property Taxes
| Parcel Number | 03-4108-006-0550 | Improvements Assessment | $4,577,620 |
| Land Assessment | $2,662,380 | Total Assessment | $7,240,000 |
Property Taxes
Parcel Number
03-4108-006-0550
Land Assessment
$2,662,380
Improvements Assessment
$4,577,620
Total Assessment
$7,240,000
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