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31995644
31995641

1029 Northwest 3rd Street, Miami, FL 33128

Horvath & Tremblay
KF
Fl : BK672851, FL: BK672851
Horvath & Tremblay
Listed by Horvath & Tremblay
$3,999,999
56 days on market
Updated 56 days ago

1029 Northwest 3rd Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,054
Units 12
Cap Rate 4.12%
NOI $164,697
Price per SqFt $249
Year Built 2020
Buildings 1
Acreage 0.170

About This Property

Marketing description

ACCESS & CONNECTIVITY

Public transportation is readily available through nearby Metrorail and Metromover connections, including Culmer Station, Government Center, and other downtown stations that connect to Brightline, Tri-Rail, and the broader Miami-Dade transit network.

The location is also served by Metrobus routes in the area, including the Little Havana Connection service, which runs along NW 3rd Street and links the neighborhood to Brickell and Government Center.

By car, the property benefits from convenient access to major roadways, including U.S. 41/Flagler Street, I-95, and SR 836/Dolphin Expressway, which provide efficient connections to Downtown Miami, Miami International Airport, and the greater South Florida region.

AREA AMENITIES & DEMAND DRIVERS

The Property’s immediate proximity to Brickell, Downtown Miami, and the Health District serves as a major driver for apartment demand, attracting professionals employed by the area’s dense concentration of financial institutions, legal firms, healthcare systems, and government offices.

Major nearby employers include Jackson Memorial Hospital, the University of Miami Health System, and the dense concentration of office tenants located throughout the Brickell and Downtown CBDs, supporting sustained renter demand from workforce housing tenants and young professionals.

Miami Marlins’ home venue, LoanDepot Park, is located just east of the property and serves as a year-round traffic generator through sporting events, concerts, and community programming.

The surrounding Little Havana district further contributes to residential appeal through its established cultural identity, walkable retail corridors, and strong dining and entertainment offerings along Calle Ocho, reinforcing the submarket’s attractiveness as a centrally located urban rental destination.

NEARBY LITTLE HAVANA

1029 NW 3rd St is ideally located for multifamily residents who want quick access to Little Havana, Brickell, and downtown Miami’s employment and lifestyle amenities.

Nearby employers and job centers include the financial and commercial offices in Brickell, along with regional hiring resources such as CareerSource South Florida’s Little Havana center on NW 7th Street.

The surrounding area also offers a strong mix of dining and entertainment, with well-known spots such as Old’s Havana Cuban Bar & Cocina, Café La Trova, Sanguich, Habana Con B, El Rey de las Fritas, La Carreta, and Lung Yai Thai Tapas all within the broader Little Havana corridor.

UTILITIES

Tenants are responsible for separately metered electricity, which they pay directly. The Landlord is responsible for providing water & sewer, which they pay directly.

OFF-STREET PARKING & AMENITIES

The Property features ample parking with twelve (12) off-street parking spaces.

STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 68,200 people live within 1 mile of the Property with an average household income of $70,009. Over 363,000 people reside within 3 miles of the Property with an average household income of $117,115.

QUALITY OF LIFE AMENITIES

Within the immediate surrounding area, residents benefit from several national quick-service and convenience brands, including McDonald's, Subway, and Walgreens, which provide convenient options for everyday dining, pharmacy needs, and grab-and-go essentials.

The neighborhood is also supported by additional national retail and grocery options in nearby Downtown Miami and Brickell, including Publix, CVS, Target, and convenience-oriented storefront retail along Flagler Street and SW 8th Street.

The surrounding retail and entertainment environment further enhances livability, with residents benefiting from close proximity to grocery stores, neighborhood bodegas, pharmacy retail, and major shopping destinations in Brickell City Centre and Downtown Miami.

Investment highlights

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 1029 NW 3rd Street in Miami, FL (the “Property”). The three-story building contains nine (9) 2-Bedroom/2-Bathroom units and three (3) 1-Bedroom/1-Bathroom units with 16,054 square feet of gross living area. The Property is situated upon a 0.17-acre parcel and features twelve (12) off-street parking spaces.

This property was built using the Miami 21 mixed-income program, which successfully doubled the lot's density and maximized its total floor area. In exchange for these development benefits, the building maintains a 12-unit affordable housing structure based on Miami-Dade's AMI limits. The unit distribution includes two units at the 30% AMI tier, one unit at the 50% AMI tier, and nine workforce units capped at 140% AMI.

Listing Contacts

Horvath & Tremblay
KF
Fl : BK672851, FL: BK672851
Horvath & Tremblay
Listed by Horvath & Tremblay

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$164,697.00
$13,724.75/mo

Valuation Metrics

0
DSCR
4.12%
Cap Rate
4.12%
ROI

Map

Zoning

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T4-R MixedMixed UseGeneral Urban Transect Restricted
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Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Alejandro Gonzalez
License
SL3249949
Brokerage
Horvath & Tremblay
Brokerage Phone
9546783780
Brokerage Address
200 East Las Olas Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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