193 NW 58th St, Miami, FL 33127 For Sale

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