2721 28Th Ct Miami, FL 33133

Property Details for 2721 28Th Ct

Year built

1930

Property type

Small apartment buildings

Description

This exceptional 5-unit apartment building presents a compelling investment opportunity in Miami, Florida. Located at 2721 SW 28th Ct, in the desirable Miami-Dade County, this property boasts a prime location between Coral Gables and Coconut Grove. Built in 1930 and extensively renovated in 2022, this one-story building offers a blend of classic charm and modern updates. The renovation included a complete gutting and refurbishment of the interiors, encompassing new flooring, kitchens, bathrooms, and wall-unit air conditioning systems. New plumbing, electrical work, and roof shingles were also installed. Each of the five units features its own independent entrance, kitchen, and bathroom, and comes fully furnished. The property provides five parking spaces, one per unit, and all units are currently leased on long-term agreements, with utilities included. Generating a gross annual income of $77,280 and a net operating income (NOI) of $58,000, this property offers a strong 5.50% capitalization rate. This turnkey investment requires minimal management, making it an ideal addition to any portfolio. The asking price is $995,000. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving Miami neighborhood.