193 NW 58th St, Miami, FL 33127
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193 NW 58th St, Miami, FL 33127
193 NW 58th St, Miami, FL 33127
193 NW 58th St, Miami, FL 33127
193 NW 58th St, Miami, FL 33127
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Alex Mendel

Alex Mendel

+1(561) 827-8449
$ 3,000,000
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193 NW 58th St Miami, FL 33127

3,205 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,205 sqft

Price per Sqft $936

MLS Listing ID A12011306

HOA Y/N No

Year Built 1926

Lot Size 6,500 Sqft

Property Sub-Type Multi Family

Property Description

15-UNIT VALUE-ADD EXTENDED-STAY
OPPORTUNITY
Fausto Commercial Realty is pleased to present
193 NW 58th Street, a 15-unit multifamily asset in
Miami's improving Little River / Model City
corridor, just east of NW 2nd Avenue. Built in
1926 on a 6,500 SF lot, the two-story property is
legally operating as 15 units and currently runs
as a high-occupancy extended-stay / hostel-style
operation. The asset is renovated, well-
maintained, and benefits from strong demand
due to proximity to Wynwood, Midtown, the
Design District, and Miami International Airport.
As-is, the property collects approximately
$20,600/month ($247,200/year) with estimated
expenses of ~30%, producing an in-place NOI of
$173,040. At the $3,250,000 asking price, the
offering reflects a 5.32% cap rate with stable
cash flow.
Value-add upside includes adding 12 bathrooms
(one per unit) for an estimated $180,000 to
convert the asset into 15 self-contained Airbnb
units. Under conservative assumptions ($135
ADR, 65% occupancy, 40% expenses), projected
NOI is approximately $288,000, equating to an
~8.4% pro-forma cap rate on total cost—driven
by operational improvement rather than
speculative rent growth.

Location

State FL

County Miami-dade

Area 30

Exterior

Private Pool Yes

Others

Tax ID 01-31-13-063-0570

Virtual Tour https://www.propertypanorama.com/instaview/mia/A12011306

Miami Association of Realtors (SEFMIAMI MLS)
Listed by Fausto Commercial Realty Consultants Inc

NEARBY SCHOOLS & PROPERTIES

Alex Mendel

Alex Mendel

Agent

+1(561) 827-8449

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193 NW 58th St

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