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12370142
12370143

10860 SW 3rd St, Miami, FL 33174

MJ
3207268, CQ1030707
MJ Estates, Inc.
Listed by MJ Estates, Inc.
$3,650,000
1371 days on market
Updated 10 days ago

Building

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,500
Net Rentable (SqFt) 7,400
Units 10
Cap Rate 4.85%
NOI $177,000
Occupancy 100%
Pro-Forma Cap Rate 5.21%
Pro-Forma NOI $190,000
Price per SqFt $507
Class A
Year Built 1971-1996
Year Renovated 2022
Buildings 1
Stories 1
Lot Size (SqFt) 18,000
Zoning RM-24
Parking Spaces 10 spaces
Parking Per SqFt 1.33
Investment Type Stabilized
Ground Lease No
Ownership Corporate
Sale Condition For sale by owner

10 Apartment building located in Sweetwater, Florida

Marketing description

Unique opportunity to acquire a well-maintained 10-unit apartment building in the heart of Sweetwater, just blocks from FIU's main campus. Property consists of 5 spacious 2BR/1BA units and 5 1BR/1BA units with long-term tenants in place. Located within the FIU University District, benefiting from strong rental demand and future development potential. The site spans from SW 3rd Street to SW 4th Street, offering exceptional access and a rare full-block footprint. Low operating expenses, 40-Year Recertification completed, and Certificate of Use (CU) in place. Current NET income approximately $177,000 annually with upside through future rent increases. Current return approximately 5% CAP rate, projected to increase to approximately 5.5% by December 2026/January 2027. Contact broker for details.

Investment highlights

  • ONE OF A KIND LOCATION
  • PLENTY OF ROOM FOR INCOME INCREASE
  • PROPERTY IS IN VERY GOOD CONDITION
  • PLENTY OF PARKING
  • EXTRA LARGE LOT

Listing Contacts

MJ
3207268, CQ1030707
MJ Estates, Inc.
Listed by MJ Estates, Inc.

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$177,000.00
$14,750.00/mo

Valuation Metrics

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DSCR
4.85%
Cap Rate
4.85%
ROI

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