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House 57 + The Flats 5742 SW 62nd St 16 Unit Apartment Building For Sale Coral Gables, FL 33143
INVESTMENT HIGHLIGHTS
- 16-Unit, 58-Bed Student Housing Community Comprised of House 57 and The Flats (two neighboring duplexes)
- Strong Enrollment Growth
- Shared Tenant Amenities
- Pedestrian to the University of Miami - Arguably the Best Located Student Housing Property in the Market
- Limited Purpose-Built Supply - There Are Only Five Other Purpose-Built Student Properties Within One Mile of Campus
EXECUTIVE SUMMARY
This offering represents the opportunity to acquire a student housing community in Miami, Florida, pedestrian to the University of Miami. This offering includes House 57 and The Flats, which are located next to each other. House 57 is a 12-unit, 42-bed apartment building with a mix of three- and four-bed units with bed-bath parity built in 2016. The Flats are two duplexes totaling 4 units and 16 beds with bed-bath parity built in 2018.
According to College House, there are only five other purpose-built student housing properties within one mile of UMiami’s campus amounting to less than 2,000 beds. With UMiami’s consistent growth over the past few years, demand for purpose-built beds is increasing.
House 57 + The Flats offers amenities to its residents including a rooftop lounge with hot tubs, outdoor grilling station, picnic garden, study room, controlled security access, and ground-floor parking.
This offering represents 100 percent fee-simple interest in House 57 + The Flats, free and clear of any debt. This enclosed and confidential offering memorandum is only for review of prospective purchasers in order to evaluate House 57 + The Flats and a possible acquisition.
According to College House, there are only five other purpose-built student housing properties within one mile of UMiami’s campus amounting to less than 2,000 beds. With UMiami’s consistent growth over the past few years, demand for purpose-built beds is increasing.
House 57 + The Flats offers amenities to its residents including a rooftop lounge with hot tubs, outdoor grilling station, picnic garden, study room, controlled security access, and ground-floor parking.
This offering represents 100 percent fee-simple interest in House 57 + The Flats, free and clear of any debt. This enclosed and confidential offering memorandum is only for review of prospective purchasers in order to evaluate House 57 + The Flats and a possible acquisition.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.80 AC |
| No. Units | 16 | Building Size | 12,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Low-Rise | Year Built | 2016 |
| Building Class | A | Opportunity Zone |
Yes
|
| Zoning | 4100 | ||
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 0.80 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2016 |
| Opportunity Zone |
Yes |
| Zoning | 4100 |
AMENITIES
SITE AMENITIES
- Walk To Campus
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+3 | 6 | - | 1,050 |
| 4+4 | 10 | - | 1,050 - 1,208 |
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Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 30-4025-035-0870 | Improvements Assessment | $2,252,075 |
| Land Assessment | $722,250 | Total Assessment | $2,974,325 |
PROPERTY TAXES
Parcel Number
30-4025-035-0870
Land Assessment
$722,250
Improvements Assessment
$2,252,075
Total Assessment
$2,974,325
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House 57 + The Flats | 5742 SW 62nd St
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