1121 3Rd St Miami, FL 33128

Property Details for 1121 3Rd St

Year built

1926

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a fully occupied, four-unit apartment building situated in the vibrant Little Havana neighborhood of Miami, Florida. The property, located at 1121 NW 3rd St, 33128, boasts a compelling 6.51% capitalization rate, generating a net operating income (NOI) of $96,980. Built in 1926 and extensively renovated in 2022, this Class B multifamily property comprises four individual units, each featuring its own parking space. Currently operating at 100% occupancy, the property offers immediate cash flow and significant upside potential. The T4-R zoning allows for up to six buildable units, presenting a compelling opportunity for future expansion and increased profitability. Its prime location, just blocks from Marlins Stadium and minutes from Downtown Miami, Brickell, and Coral Gables, ensures strong rental demand. The property's proximity to major attractions and vibrant urban centers makes it an attractive option for both long-term tenants and short-term rentals (buyer to verify). This is a rare chance to acquire a high-performing asset in a rapidly appreciating market. The property's strong financials, combined with its strategic location and development potential, make it an ideal investment for discerning buyers seeking substantial returns.