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Gelfand Realty Miami Properties for Sale - Income/MultiFamily for Sale

2014 SW 3RD ST, MIAMI, FL 33135

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Income/MultiFamily - for Sale

2014 SW 3RD ST, MIAMI, FL 33135

Date Sold 05-02-2025

Sold Price$2,500,000 Asking Price$2,500,000

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  • Days on market:

    170 day(s)

  • Original Price:

    $2,700,000

  • Tax Legal Description:

    IDLEWILD PARK PB 2-87 LOT 13 LESS N7.5FT BLK 44 LOT SIZE 9250 SQ FT OR 10230-711 1178 1

  • Property Type:

    Income/MultiFamily

  • Special Listing Conditions:

    Sale

Description

$2,500,000

Discover 2014 sw 3 st, a meticulously maintained 9-unit apartment building in the heart of vibrant little havana. this stabilized asset, boasting 100% occupancy, presents a rare opportunity for investors to capitalize on significant rental upside. currently achieving an average effective rent of $1,988, this property offers a clear path to a 19% increase, aligning with market rents of $2,300-$2,400 for 2/1 units. proven income stream: current gross monthly income of $17,900, with a current in place cap rate of 6.18%. projected growth: potential gross monthly income of $21,150, resulting in a projected cap rate of 6.35% after reassessment of taxes and insurance, achievable through strategic rent adjustments.

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