1051 2Nd St Miami, FL 33128

This exceptional 20-unit apartment building presents a compelling investment opportunity in Miami's vibrant Little Havana neighborhood. The property, located at 1051 NW 2nd St, Miami, FL 33128, boasts 13,285 square feet across three stories and sits on a 0.16-acre lot (APN: 01-4102-005-1630). Recently completed renovations encompass structural improvements, new impact windows and doors, updated sewer lines (PVC piping), and fully renovated units featuring new cabinets, appliances, bathrooms, flooring, and washer/dryer hookups. The air conditioning system has been upgraded to mini-splits, and the exterior features new stucco and paint, along with turf landscaping. The roof was replaced in 2016, and 40/10 year inspections were completed in 2015. The unit mix includes 11 one-bedroom/one-bathroom and nine two-bedroom/one-bathroom units. The building, originally constructed in 1925, is zoned T4-R and benefits from a Walk Score of 87 ("Very Walkable"). Its prime location, blocks from Marlins Park and Flagler Street, places it within a densely populated area (over 500,000 people within a 5-mile radius), near major employment centers, hospitals, Miami International Airport, PortMiami, Downtown Miami, Brickell, Coral Gables, and Coconut Grove. The asking price is $5,200,000 ($260,000 per unit, $391 per square foot), offering a current NOI of $323,944 (6.23% cap rate) and a pro-forma NOI of $333,604 (6.42% pro-forma cap rate) with 95% occupancy. This fully renovated property requires minimal capital improvements, allowing investors to focus on operational efficiency and rental growth. Features include secured entrances and mini-split central air conditioning.