Renovated Two-Building Multifamily
For Sale
$5,200,000
1521 SW 7th St, Miami, FL 33135
Two gut-renovated residential buildings totaling 24 units on a 15,000 SF lot, configured as a two-folio portfolio for purchase.
Property Size15,592 SF
Lot Size0.34 Acres
Price / SF$333.50
Days on Market138
Property Features for 1521 SW 7th St
General Information
Standard status
Active
Size
15,592 SF
Lot size
0.34 Acres
Property subtype
Income/MultiFamily
Financials
Cap Rate
6.68%
Business Included
Yes
Site & Location
Neighborhood
Latin Quarter
Additional Details
Multifamily Units
24
Building Details
Building Size
15,592 SF
Year Built
1924
Year Renovated
2015
Tenancy
Multi
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Mauricio Villasuso · License #3254982
(305) 340-8901
Source:
Casacollectiongroup
Added: Jun 17
Changed: Oct 31
Last Checked: Oct 30 at 10:58PM
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 Fausto Commercial Realty Consultants Inc
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Investment Insights
Based on property information with market context.
This fully renovated two-building multifamily portfolio includes 24 residential units across two separate buildings. The property was comprehensively gut renovated in 2015, including new plumbing, updated electrical infrastructure, and reinforced floor structures, creating a renovated, turnkey asset profile.
The portfolio is located in Little Havana and includes 1529 SW 7 ST under Folio 01-4102-006-6019. The offering is presented as a two-folio portfolio purchase.
Current gross income is reported as $402,276, with pro forma gross income of $590,400. The pro forma figures reflect an income outlook that is higher than current results based on the provided rent normalization discussion.
The portfolio is located in Little Havana and includes 1529 SW 7 ST under Folio 01-4102-006-6019. The offering is presented as a two-folio portfolio purchase.
Current gross income is reported as $402,276, with pro forma gross income of $590,400. The pro forma figures reflect an income outlook that is higher than current results based on the provided rent normalization discussion.
Key Highlights
- Two‑building multifamily portfolio in Little Havana on SW 7th Street, totaling 24 residential units
- Both buildings completed a comprehensive gut renovation in 2015, including new plumbing and updated electrical infrastructure
- Portfolio sits on a 15,000 SF lot and is sold as a two‑folio purchase (1529 SW 7 ST; Folio 01‑4102‑006‑6019)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$288,037
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,760,740
$5.8M
Cap Rate 7%
$4,114,814
$4.1M
Cap Rate 9%
$3,200,411
$3.2M
Market Conditions
NOI Build-Up for 15,592 SF
Gross rent
$561.3K $36.00/SF
− Vacancy
−$37.6K −$2.41/SF
EGI
$523.7K $33.59/SF
− OpEx
−$235.7K −$15.11/SF
NOI
$288.0K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,760,740
Cap Rate 7%
$4,114,814
Cap Rate 9%
$3,200,411
Alternative Uses
Best Use
Apartment 5plus
$4.11M
$3.60M – $4.80M
NOI $288,037 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.52M
$9.21M – $12.28M
NOI $736,729 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
24
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,745
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two gut-renovated residential buildings totaling 24 units on a 15,000 SF lot, configured as a two-folio portfolio for purchase.
Where is this apartment building located?
The property is located at 1521 SW 7th St Miami, FL.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Two‑building multifamily portfolio in Little Havana on SW 7th Street, totaling 24 residential units; Both buildings completed a comprehensive gut renovation in 2015, including new plumbing and updated electrical infrastructure; Portfolio sits on a 15,000 SF lot and is sold as a two‑folio purchase (1529 SW 7 ST; Folio 01‑4102‑006‑6019)
