Coral Gables Portfolio
Renovated Multifamily Portfolio With Stable Income Coral Gables
Marketing description
Fausto Commercial is pleased to present an exclusive opportunity to acquire a renovated, income-producing multifamily portfolio comprising 28 units across three buildings in a premier residential neighborhood. The portfolio is fully stabilized, professionally managed, and offers strong in-place cash flow with additional upside through mark-to-market rents supported by nearby comparable properties. +
Two buildings are symmetrical 8 unit buildings, one has been fully gut renovated and the other substantially renovated, all high attractive and sought after One Bedrooms. The third building is a 12 unit, composed of large, highly attractive and sought after Deco Studios. All buildings are in beautiful condition, with common areas and outdoor garden spaces tastefully appointed by a landscape and interior designer. The buildings are professionally managed, with no deferred maintenance and all vetted high-quality tenants, to assure you of a smoothly operating long-term investment. Current rent roll generates $662k gross per year, but market rents today would yield $700k gross; to yield a true NOI of $480,000. Location is in one of Coral Gables’ nicest residential neighborhoods, with beautiful architecture, lush treescapes, and wonderful walkability, assuring you a long trajectory of sustained rent and value growth.
All buildings are fully up to date on all re-certifications and fully permitted as of 2026
28 Unit Coral Gables Multi-Family Portfolio. Two Buildings Are Symmetrical 8 Unit Buildings, One Has Been Fully Gut Renovated and the Other Substantially Renovated, All High Attractive and Sought After One Bedrooms. the Third Building is a 12 Unit, Composed of Large, Highly Attractive and Sought After Deco Studios. All Buildings Are in Beautiful Condition, With Common Areas and Outdoor Garden Spaces Tastefully Appointed by a Landscape and Interior Designer. the Buildings Are Professionally Managed, With No Deferred Maintenance and All Vetted High-quality Tenants, to Assure You of a Smoothly Operating Long-term Investment. Current Rent Roll Generates $662k Gross Per Year, but Market Rents Today Would Yield $700k Gross; to Yield a True Noi of $480,000. Location is in One of Coral Gables’ Nicest Residential Neighborhoods, With Beautiful Architecture, Lush Treescapes, and Wonderful Walkability, Assuring You a Long Trajectory of Sustained Rent and Value Grow
Investment highlights
- Unit Mix & Design
- Desirable Mix of Large One-bedroom Units and Deco-style Studios
- Highly Functional Layouts With Strong Tenant Appeal
- Updated Interiors and Well-appointed Common Areas
- Landscaped Outdoor Garden Spaces Curated by Design Professionals
- Income & Operations
- Strong in-place Cash Flow With Stabilized Operations
- Mark-to-market Upside Supported by Nearby Rental Comparables
- Low Historical Vacancy and High Tenant Retention
- Conservative Underwriting With Replacement Reserves Included
- Investment Profile
- Core / Core-plus Multi-family Profile
- Durable Income With Downside Protection
- Attractive Basis Relative to Replacement Cost
- Suitable for Long-term Hold or Portfolio Aggregation
- Asset Condition & Compliance
- Fully Compliant With All Required Building Re-certifications
- All Improvements Fully Permitted and Up to Date as of 2026
- 320 Mendoza Ave
- Select Units Renovated
- Resurfaced Flooring in Upgraded Units
- Shared on-site Washer and Dryer Facility
- Roof Replaced (Date Available Upon Request)
- 324 Mendoza Ave
- Impact Windows Installed
- Updated Landscaping Enhancing Curb Appeal
- Select Plumbing and Electrical Upgrades
- Resurfaced Flooring in Renovated Units
- Partial Interior Renovations Completed
- Shared on-site Washer and Dryer Facility
- 1610 Salzedo St
- Impact Windows Installed
- Updated Landscaping Enhancing Curb Appeal
- Select Plumbing and Electrical Upgrades
- Resurfaced Flooring in Renovated Units
- Partial Interior Renovations Completed
- Shared on-site Washer and Dryer Facility
- Redevelopment & Upside Potential
- Infill Multi-family Parcel Within a Supply-constrained Coral Gables Submarket
- Opportunity to Renovate and Modernize Existing Improvements
- Potential to Enhance Rental Income Through Unit Upgrades and Repositioning
- Long-term Value Preservation Supported by Stable Residential Demand
- Future Redevelopment Subject to Zoning and Municipal Approvals
- Density & Zoning Capacity
- Zoning: Ru-3 – Four-unit Apartment District
- Lot Size: ±5,000 Sf
- Permitted Use: Multi-family (Up to Four Units Per Lot, Per Code)
- Existing Density Consistent with Zoning Parameters
- Redevelopment & Upside Potential
- Medium-density Residential Zoning Within a Desirable Infill Location
- Opportunity to Reposition or Modernize Existing Improvements
- Potential to Enhance Rental Income Through Strategic Renovation
- Long-term Asset Viability Supported by Stable Neighborhood Demand
- Future Density or Redevelopment Subject to Municipal Approvals
- Density & Zoning Capacity
- Zoning: Mf2 – Multi-family Medium Density
- Lot Size: ±5,526 Sf
- Permitted Use: Multi-family Residential
- Density Governed by Coral Gables Zoning Code and Applicable Setbacks
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