15-Unit Multifamily
193 NW 58th St Miami, FL 33127
193 NW 58th St, Miami, FL, 33127
$3,000,000
For Sale
$3,000,000
Renovated two-story 15-unit property operating extended-stay/hostel style near Wynwood and Midtown.
Lot Size0.15 Acres
Days on Market97
Property Features for 193 NW 58th St
General Information
- Standard status
- Active
- Lot size
- 0.15 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1926
Listing agency
FAUSTO COMMERCIAL REALTY CONSULTANTS INC
(305) 510-6627
Listed by
VICENTE RODRIGUEZ · License #A12011306
Source
Corcoran
Added: Apr 18 Updated: Jul 21 at 11:50PM Checked: Jul 22 at 9:34AM
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
Location Intelligence
Current Use by Public Records
Havana Inn Hotel
Hotel & Motel
Similar For Sale Nearby
FAQs
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
