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$ 2,400,000
Est. payment | /mo
15,000 SqFt
$ 2,400,000
Est. payment | /mo
15,000 SqFt
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 15,000 sqft
Price per Sqft $160
MLS Listing ID A12093630
HOA Y/N No
Year Built 1925
Lot Size 7,500 Sqft
Property Sub-Type Multi Family
Property Description
956-964 SW 3rd Street offers developers and investors the opportunity to acquire an eight-unit multifamily asset on a 15,000-square-foot assemblage in Miami's urban core, at an asking price of $2,400,000 and an in-place cap rate of 4.87%. The offering combines current income from the existing improvements with the underlying land value of a 0.344-acre T4-R site.
For an investor, the property presents in-place net operating income of $116,901.06 on annual gross income of $163,707.00 across eight apartments, with electric service individually metered and paid directly by tenants — a structural feature relevant to evaluating the asset's ongoing expense profile.
For a developer, the T4-R zoning designation and 15,000-square-foot land area, spanning two folios, may support future redevelopment, renovation, or repositioning of the site, subject to independent verification of zoning, density, and permitted uses with the applicable governing authorities.
For an investor, the property presents in-place net operating income of $116,901.06 on annual gross income of $163,707.00 across eight apartments, with electric service individually metered and paid directly by tenants — a structural feature relevant to evaluating the asset's ongoing expense profile.
For a developer, the T4-R zoning designation and 15,000-square-foot land area, spanning two folios, may support future redevelopment, renovation, or repositioning of the site, subject to independent verification of zoning, density, and permitted uses with the applicable governing authorities.
Location
State FL
County Miami-dade
Area 41
Zoning 3900
Exterior
Private Pool Yes
Others
Tax ID 01-41-38-003-1450
Listed by Floridian First Realty Corp
NEARBY SCHOOL & BUSINESS
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