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7509 NE 3rd Ave 6 Unit Apartment Building $1,895,000 ($315,833/Unit) 5.31% Cap Rate Miami, FL 33138
INVESTMENT HIGHLIGHTS
- Burgeoning Little River Sub-Market
- Recently Renovated Interiorss
- Spacious 2 Bedroom Units
EXECUTIVE SUMMARY
MCG Realty Advisors is proud to exclusively present for sale 7509 NE 3rd Avenue in the burgeoning Little River neighborhood of Miami. This 6-unit boutique multifamily building is generating over $139,200 per year in gross income providing ample upside for rental and income growth.
All units are spacious 2-BR apartments with several recently updated and renovated. Private parking for 12 cars is included on the property. The building is 100% occupied and has completed its 40-year recertification.
The neighborhood of Little River is experiencing significant growth and is well positioned to take advantage of resident’s desire to be close to Wynwood, The Design District, MIMO and the developing urban core of Miami.
The area boasts some of the hottest new bars and restaurants in the city including Sunny’s Steakhouse, Bar Bucce, Magie Wine Bar and The Citadel Dining Hall.
Also located in a Qualified Opportunity Zone, this property is perfect for builders and developers looking to capitalize on the dynamic and energetic growth the Little River area will be experiencing for many years to come.
Property Highlights
- 6 Spacious 2 Bedroom Apartments
- Private Parking
- 100% Occupancy
- T5-R Zoning
- Opportunity Zone
All units are spacious 2-BR apartments with several recently updated and renovated. Private parking for 12 cars is included on the property. The building is 100% occupied and has completed its 40-year recertification.
The neighborhood of Little River is experiencing significant growth and is well positioned to take advantage of resident’s desire to be close to Wynwood, The Design District, MIMO and the developing urban core of Miami.
The area boasts some of the hottest new bars and restaurants in the city including Sunny’s Steakhouse, Bar Bucce, Magie Wine Bar and The Citadel Dining Hall.
Also located in a Qualified Opportunity Zone, this property is perfect for builders and developers looking to capitalize on the dynamic and energetic growth the Little River area will be experiencing for many years to come.
Property Highlights
- 6 Spacious 2 Bedroom Apartments
- Private Parking
- 100% Occupancy
- T5-R Zoning
- Opportunity Zone
PROPERTY FACTS
| Price | $1,895,000 | Building Class | C |
| Price Per Unit | $315,833 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 3,705 SF |
| Cap Rate | 5.31% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 2.7/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | T5-R | ||
| Price | $1,895,000 |
| Price Per Unit | $315,833 |
| Sale Type | Investment |
| Cap Rate | 5.31% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,705 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 2.7/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | T5-R |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 01-3207-039-0471 | Improvements Assessment | $516,690 |
| Land Assessment | $551,250 | Total Assessment | $1,067,940 |
PROPERTY TAXES
Parcel Number
01-3207-039-0471
Land Assessment
$551,250
Improvements Assessment
$516,690
Total Assessment
$1,067,940
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7509 NE 3rd Ave
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