Log In/Sign Up
Your email has been sent.
Tropical Terrace Apartments 3722 NW 20th Ave 17 Unit Apartment Building For Sale Miami, FL 33142
INVESTMENT HIGHLIGHTS
- Modern 2020 construction with concrete block structure
- Below-market rents provide immediate upside potential
- Strong connectivity via SR-836, I-95, and Metrorail
- Fully occupied with consistent workforce housing demand
- Centrally located near Health District, Wynwood, and Downtown
EXECUTIVE SUMMARY
Tropical Terrace Apartments presents a rare opportunity to acquire a modern, income-producing multifamily asset in Miami’s thriving Allapattah neighborhood. Built in 2020, this 17-unit garden-style property combines durable construction with a strategic urban-core location, offering investors immediate cash flow and long-term upside. The property is fully occupied, supported by a strong workforce tenant base, and benefits from proximity to major employment hubs including the Health District, Wynwood, Downtown Miami, and the Civic Center.
Current rents trail comparable properties in the area, creating a clear path for organic revenue growth without significant capital investment. With projected market rents exceeding $2,000 per unit and a five-year NOI growth trajectory reaching nearly $289,000, Tropical Terrace offers compelling yield and appreciation potential. Residents enjoy connectivity to SR-836, I-95, and Metrorail, ensuring seamless access across the metro. The surrounding neighborhood continues to experience robust redevelopment, reinforcing demand for quality attainable housing.
Positioned within a high-barrier market characterized by limited supply and strong demographic fundamentals, Tropical Terrace stands as a resilient investment in one of Miami’s most dynamic submarkets. Investors seeking a stabilized asset with embedded rent growth and exposure to Miami’s long-term economic drivers will find this offering exceptionally attractive.
Current rents trail comparable properties in the area, creating a clear path for organic revenue growth without significant capital investment. With projected market rents exceeding $2,000 per unit and a five-year NOI growth trajectory reaching nearly $289,000, Tropical Terrace offers compelling yield and appreciation potential. Residents enjoy connectivity to SR-836, I-95, and Metrorail, ensuring seamless access across the metro. The surrounding neighborhood continues to experience robust redevelopment, reinforcing demand for quality attainable housing.
Positioned within a high-barrier market characterized by limited supply and strong demographic fundamentals, Tropical Terrace stands as a resilient investment in one of Miami’s most dynamic submarkets. Investors seeking a stabilized asset with embedded rent growth and exposure to Miami’s long-term economic drivers will find this offering exceptionally attractive.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.27 AC |
| No. Units | 17 | Building Size | 17,000 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1947/2020 |
| Building Class | B | Opportunity Zone |
Yes
|
| Zoning | 6107 | ||
| Sale Type | Investment |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 17,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1947/2020 |
| Opportunity Zone |
Yes |
| Zoning | 6107 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Security System
- Refrigerator
- Oven
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 17 | - | 569 |
1 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 01-3122-076-0010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,635,380 |
PROPERTY TAXES
Parcel Number
01-3122-076-0010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,635,380
CONTACTS
-
Virgilio Fernandez, CCIM -
Mitash Kripalani, CCIM -
Alain Crego -
Milan Patel -
Cushman & Wakefield
1 of 2
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Tropical Terrace Apartments | 3722 NW 20th Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.