Value-Add Multifamily
For Sale
Contact for pricing
12 NE 188 Street, Miami, FL 33179
Cottage Cove is a 468-unit multifamily community on 23.75 acres with recent capital improvements and strong recent occupancy.
Property SizeContact for details
Lot Size23.75 Acres
Days on Market126
Property Features for 12 NE 188 Street
General Information
Standard status
Active
Lot size
23.75 Acres
Property subtype
Multifamily
Additional Details
Business Included
Yes
Multifamily Units
468
Building Details
Tenancy
Multi
Listing Agency:
CBRE - Fort Lauderdale
Listed By:
Calum Weaver · License #FL 3057668
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 20 at 8:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Fort Lauderdale
Investment Insights
Based on property information with market context.
Cottage Cove is a 468-unit value-add multifamily community located at 12 NE 188 Street, Miami, Florida. The property sits on 23.75 acres and is positioned as a low-density opportunity. Current ownership has invested approximately $4 million in improvements, and the offering includes the ability for a future investor to implement an in-unit renovation program focused on replacing carpet with tile flooring and upgrading kitchens and bathrooms.
The property is presented with immediate positive cash flow. Historical and operating performance noted in the materials includes a 73% retention rate in 2016 and an average occupancy rate over 97% over the past two years. An assumable loan is available for $38.2 million, with 18 months of interest-only payments and a 3.95% fixed rate for ten years.
Cottage Cove is described as being almost equidistant to Miami and Fort Lauderdale’s major CBDs and airports, and it is surrounded by more than 9,000 jobs within a mile radius. Employers specifically mentioned include Publix Supermarkets, Miami-Dade Transit, and USPS.
The property is presented with immediate positive cash flow. Historical and operating performance noted in the materials includes a 73% retention rate in 2016 and an average occupancy rate over 97% over the past two years. An assumable loan is available for $38.2 million, with 18 months of interest-only payments and a 3.95% fixed rate for ten years.
Cottage Cove is described as being almost equidistant to Miami and Fort Lauderdale’s major CBDs and airports, and it is surrounded by more than 9,000 jobs within a mile radius. Employers specifically mentioned include Publix Supermarkets, Miami-Dade Transit, and USPS.
Key Highlights
- 468‑unit multifamily community on 23.75 acres in Miami, FL
- Assumable loan available: $38.2 million with 18 months interest‑only at 3.95% fixed for 10 years
- Recent ownership improvements: approximately $4 million spent to reduce need for major capital expenditures
Property Analytics
Current Use
Lease Details
468
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,438
Businesses Nearby
Explore this area
Business Placement
Demographics for 33179, FL
48,088
Population
21,249
Households
2.3
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
5.0 sq mi
ZIP Area
9,618
Density / Sq Mi
$61,526
Median Household Income
$37,555
Median Earnings
$1,736
Median Rent
$281,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Cottage Cove is a 468-unit multifamily community on 23.75 acres with recent capital improvements and strong recent occupancy.
Where is this apartment building located?
The property is located at 12 NE 188 Street Miami, FL.
What are key features of this property?
This property features: 468‑unit multifamily community on 23.75 acres in Miami, FL; Assumable loan available: $38.2 million with 18 months interest‑only at 3.95% fixed for 10 years; Recent ownership improvements: approximately $4 million spent to reduce need for major capital expenditures
