Garden Apartment Community with 79
931 SW 3rd St Miami, FL 33130
931 SW 3rd St, Miami, FL, 33130
$18,500,000
For Sale
$18,500,000
Garden-style multifamily community on two contiguous parcels with 79 units and mature landscaping.
Property Size58,260 SF
Lot Size2.16 Acres
Price / SF$317.54
Days on Market37
Property Features for 931 SW 3rd St
General Information
- Standard status
- Active
- Size
- 58,260 SF
- Lot size
- 2.16 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1947
Listing agency
Fausto Commercial Realty Consultants Inc
(305) 340-8901
Listed by
Mauricio Villasuso · License #3254982
Source
Homemaxrealtyinternational
Added: Jun 17 Updated: Jul 20 at 8:37PM Checked: Jul 22 at 2:07AM
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.
This garden apartment community was originally developed in 1947 and features multiple residential structures arranged in a garden-style setting. The site includes expansive open areas, mature landscaping, and generous green space, creating a low-density residential character. The unit mix totals 79 residences: 29 two-bedroom units, 46 one-bedroom units, and 4 studio apartments.
The property is located at 931 SW 3rd St in Miami, FL 33130. It comprises two contiguous parcels totaling 2.16 acres and includes both operational scale and a significant land component.
Financially, the community reports current in-place gross income of $1,336,754 and pro forma gross income of $1,990,800. The pro forma cap rate is listed at 5.93%.
The property is located at 931 SW 3rd St in Miami, FL 33130. It comprises two contiguous parcels totaling 2.16 acres and includes both operational scale and a significant land component.
Financially, the community reports current in-place gross income of $1,336,754 and pro forma gross income of $1,990,800. The pro forma cap rate is listed at 5.93%.
Key Highlights
- 79‑unit garden‑style multifamily community on 2.16 acres across two contiguous parcels
- Building area totals 58,260 SF; originally developed in 1947
- Unit mix: 29 two‑bedroom, 46 one‑bedroom, and 4 studio apartments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.10M | $36.00 |
| − Vacancy | −$140.5k | −$2.41 |
| EGI | $1.96M | $33.59 |
| − OpEx | −$880.6k | −$15.11 |
| NOI | $1.08M | $18.47 |
58,260 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$15.38M
$13.45M – $17.94M
NOI $1,076,260 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$39.33M
$34.41M – $45.88M
NOI $2,752,811 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Garden-style multifamily community on two contiguous parcels with 79 units and mature landscaping.
Where is this apartment building located?
The property is located at 931 SW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $18,500,000.
What are key features of this property?
This property features: 79‑unit garden‑style multifamily community on 2.16 acres across two contiguous parcels; Building area totals 58,260 SF; originally developed in 1947; Unit mix: 29 two‑bedroom, 46 one‑bedroom, and 4 studio apartments
