931 SW 3rd St, Miami, FL 33130
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931 SW 3rd St, Miami, FL 33130
931 SW 3rd St, Miami, FL 33130
931 SW 3rd St, Miami, FL 33130
931 SW 3rd St, Miami, FL 33130
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Alex Mendel

Alex Mendel

+1(561) 827-8449
$ 18,500,000
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931 SW 3rd St Miami, FL 33130

58,260 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 58,260 sqft

Price per Sqft $317

MLS Listing ID A12044485

HOA Y/N No

Year Built 1947

Lot Size 2.161 Acres

Property Sub-Type Multi Family

Property Description

Rare Urban Garden Apartment Community in the Heart of East Little Havana. Spanning 2.16 acres across two
contiguous parcels totaling 79 units and 58,260 SF of building area, this community offers operational scale, enduring land value, & a residential character difficult to replicate in Miami's urban core.

Presenting a rare opportunity to acquire a 79-unit garden apartment community spanning 2.16 acres — an increasingly scarce combination of scale, land, & low-density residential character within Miami's urban core. Originally developed in 1947, the property consists of multiple residential structures in a garden- style setting distinguished by expansive open areas, mature landscaping, and generous green space. The property features a diversified unit mix of 29 two-bedroom residences, 46 one-bedroom residences, and 4 studio apartments, providing broad tenant appeal and durable leasing flexibility. The site's configuration and significant land component create a setting that is increasingly difficult to replicate under today's development conditions. With current in-place gross income of $1,336,754 and pro forma gross income of $1,990,800, the portfolio presents a compelling value- add opportunity with clear rent upside — units currently average below market, offering an investor a 5.93% pro forma cap rate. Residents benefit from convenient access to employment centers while remaining immersed in the culture, dining, and everyday conveniences that define Little Havana.

Location

State FL

County Miami-dade

Area 41

Exterior

Private Pool Yes

Others

Tax ID 01-41-38-003-1340

Virtual Tour https://www.propertypanorama.com/instaview/mia/A12044485

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

Alex Mendel

Agent

+1(561) 827-8449

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931 SW 3rd St

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