15-Unit Multifamily
For Sale
$3,000,000
193 NW 58th St, Miami, FL 33127
Renovated two-story 15-unit property operating extended-stay/hostel style near Wynwood and Midtown.
Property Size3,205 SF
Lot Size0.15 Acres
Price / SF$936.04
Days on Market150
Property Features for 193 NW 58th St
General Information
Standard status
Active
Size
3,205 SF
Lot size
0.15 Acres
Property subtype
Income/MultiFamily
Additional Details
Cap Rate
5.32%
Multifamily Units
15
Building Details
Building Size
3,205 SF
Year Built
1926
Stories
2
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Vicente Rodriguez · License #3289280
(305) 510-6627
Source:
Casacollectiongroup
Added: Apr 15
Changed: Sep 10
Last Checked: Sep 10 at 8:21AM
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
Investment Insights
Based on property information with market context.
Fausto Commercial Realty presents 193 NW 58th Street, a 15-unit, two-story multifamily asset built in 1926 on a 6,500 SF lot. The property is legally operating as 15 units and is currently run as a high-occupancy extended-stay/hostel-style operation. The building has been renovated and is well maintained, and it is offered as-is.
As stated in the materials, the property collects approximately $20,600 per month with estimated expenses of about 30%, resulting in an in-place NOI of $173,040. The offering price reflects a 5.32% cap rate based on the stated figures, and value-add considerations include adding 12 bathrooms (one per unit) to convert the asset into 15 self-contained Airbnb units, with an estimated cost of $180,000. Under conservative projection assumptions provided, projected NOI is approximately $288,000, equating to an ~8.4% pro-forma cap rate driven by operational improvement.
As stated in the materials, the property collects approximately $20,600 per month with estimated expenses of about 30%, resulting in an in-place NOI of $173,040. The offering price reflects a 5.32% cap rate based on the stated figures, and value-add considerations include adding 12 bathrooms (one per unit) to convert the asset into 15 self-contained Airbnb units, with an estimated cost of $180,000. Under conservative projection assumptions provided, projected NOI is approximately $288,000, equating to an ~8.4% pro-forma cap rate driven by operational improvement.
Key Highlights
- Renovated two‑story 15‑unit multifamily asset built in 1926 on a 6,500 SF lot
- Operating as legally 15 units with current extended‑stay/hostel‑style setup
- In‑place income of approximately $20,600/month ($247,200/year) with estimated ~30% expenses
Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
2,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated two-story 15-unit property operating extended-stay/hostel style near Wynwood and Midtown.
Where is this apartment building located?
The property is located at 193 NW 58th St Miami, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Renovated two‑story 15‑unit multifamily asset built in 1926 on a 6,500 SF lot; Operating as legally 15 units with current extended‑stay/hostel‑style setup; In‑place income of approximately $20,600/month ($247,200/year) with estimated ~30% expenses
