Listed by Maddux & Company
$2,785,000
115 Salamanca
Details
APN 03-4108-009-2800
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,950
Units 8
Beds 10
NOI $124,600
Occupancy 90%
Tenancy Multi
Pro-Forma NOI $151,200
Price per SqFt $563
Class A
Year Built 1962
Year Renovated 2025,2026
Buildings 1
Stories 2
Lot Size (SqFt) 7,700
Zoning 3801 MULTI-FAMILY MED DENSITY
Parking Spaces 1 per unit
Investment Type Stabilized
Multifamily | 8 Units | $348,125/unit
Marketing description
115 Salamanca Avenue presents a rare opportunity to acquire a multi-family property in one of Miami's most prestigious neighborhoods. The property sits on a quiet, tree-lined street within walking distance of Miracle Mile, top-rated restaurants, shops, and transit. This is an ideal opportunity for investors seeking stable cash flow and long-term appreciation in the highly sought-after Coral Gables market.
Investment highlights
- Located in the heart of Coral Gables, 115 Salamanca Avenue is a turnkey eight-unit multifamily property offering stable income, recent capital improvements, and a prime position in one of South Florida's most prestigious rental markets
- The building is comprised of six spacious 1-bedroom/1-bathroom units and two large 2-bedroom/1-bathroom units, mostly leased with strong in-place rents and long-term upside potential
- A new roof and freshly resurfaced parking lot were completed in the past year
- The property features impact-resistant windows throughout, updated electrical systems, and has successfully completed its 40-year recertification within the last six months—eliminating near-term capital expenditure concerns and making this a low-maintenance acquisition for both new and seasoned investors
- Tenants enjoy walkability to Miracle Mile, Ponce de Leon Boulevard, and a variety of retail, dining, and transit options
- Coral Gables remains one of Miami-Dade's most stable and sought-after submarkets, offering strong tenant demand, limited supply, and long-term appreciation
- With its prime location, high-quality improvements, and clean operational profile, 115 Salamanca Avenue presents an exceptional opportunity to acquire a stabilized, income-generating asset in a blue-chip neighborhood
Listing Contacts
Listed by Maddux & Company
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$124,600.00
$10,383.33/mo
Valuation Metrics
0
DSCR
4.47%
Cap Rate
4.47%
ROI
Map
Zoning
MF2 ResidentialMulti FamilyMultifamily 2
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View all 96 uses Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics
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