1786 9Th St Miami, FL 33135

Property Details for 1786 9Th St

Year built

1920

Property size

4,500 SF

Property type

Small apartment buildings

APN

01-4110-063-2520

Description

This exceptional 4-unit apartment building in Miami's Shenandoah neighborhood presents a compelling investment opportunity. The property, located at 1786 SW 9th St, Miami, FL 33135, boasts a total of 4,500 square feet on a 5,900 square foot lot (APN: 01-4110-063-2520). Built in 1920 and completely renovated in 2023, this Class B multifamily property features four 3-bedroom, 2-bathroom units, each equipped with new flooring, drywall, remodeled kitchens and bathrooms, new appliances, smart home technology, and in-unit stackable washer/dryers. The renovation included new windows, doors, individual HVAC systems, plumbing, electrical, structural upgrades, and roofing. First-floor units enjoy private backyard patios. Common areas and backyards have also been updated. The property is fully stabilized, offering a strong 6.31% cap rate and a net operating income (NOI) of $141,868. The asking price is $2,250,000, representing a price per unit of $562,500 and a price per square foot of $500. The 40/50-year certification was obtained in 2023. This property is zoned for multi-family use and presents a rare opportunity to acquire a fully renovated, high-performing asset in a desirable Miami location. The property is conveniently located adjacent to Little Havana.