Listed by Compass Florida LLC, Compass Florida, LLC
$1,650,000
Fully Renovated Shenandoah Multifamily | 6 units
Details
APN 01-41-10-059-0311
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 3,290
Units 6
Cap Rate 5.01%
NOI $82,624
Occupancy 83%
Pro-Forma Cap Rate 5.13%
Pro-Forma NOI $84,704
Price per SqFt $502
Broker Co-Op Yes
Class B
Year Built 1957
Year Renovated 2020
Stories 2
Lot Size (SqFt) 4,738
Zoning 3900
Parking Spaces 6 spaces
Parking per 1,000 SqFt 1.82
Investment Type Stabilized
Ground Lease No
Turn-key Fully Renovated Multifamily | 6 Units
Marketing description
Introducing 2190 SW 14th Terrace, a fully renovated, turnkey, 100% leased 6-unit multifamily in Miami's Shenandoah corridor. The property delivers stabilized in-place income of $132,000 annually, with all leases running through mid-2027. A comprehensive 2020 renovation addressed major building components: new roof, hurricane-rated impact windows and doors, individual mini-split HVAC (central AC in one unit), new electrical, perimeter fencing, full interior gut with new tile flooring, kitchens and bathrooms, coinless laundry (owned), and tankless water heaters. Unit mix of 2 studios (approx. 450 SF) and 4 one-bed/one-bath apartments (approx. 600 SF), each with an assigned on-site parking space. Centrally positioned minutes from Brickell, the Health District, Coral Gables, Coconut Grove, and Calle Ocho. Shenandoah sits at a higher elevation than Miami's coastal submarkets, a growing consideration for lenders and insurers.
Investment highlights
- Fully renovated with new roof, electrical, impact windows and doors, HVAC, and full interior updates
- 6 units: 2 studios and 4 one-bed/one-bath apartments
- 6 assigned on-site parking spaces
- Corner lot at the intersection of SW 14th Terrace and SW 22nd Avenue
Listing Contacts
Listed by Compass Florida LLC, Compass Florida, LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$82,624.00
$6,885.33/mo
Valuation Metrics
0
DSCR
5.01%
Cap Rate
5.01%
ROI
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