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20 Unit Building in Little Havana with Assumable Freddie Mac Loan

20 Unit Building in Little Havana with Assumable Freddie Mac Loan
FOR SALE
View more

$3,900,000

1362 Southwest 2nd Street, Miami, FL 33135

5.84%

CAP

Property Description

NOI

$227,760

Cap Rate

5.84%

High-performing 20-unit multifamily asset in the heart of Little Havana generating $339,480 in gross annual rent & $227,776 in NOl. Strong in-place income with plenty of upside-current rents are below Section 8 levels, offering immediate value-add potential through rental increases. Other features: newer roofs, upgraded PVC plumbing, & a history of consistent 100% occupancy. Unit mix: (1) 1-bed/2-bath, (14) 1-bed/1-bath, (4) 2-bed/1-bath, & (1) 2-bed/2-bath. Priced at just $195,000 per unit-rare for Little Havana with this level of stabilized income. 40-Year Recertifications have been completed. Attachments include the current rent roll, 2024 operating statement, & certification reports. Freddie Mac loan is assumable with a 3.83% interest rate, approx. $1,735,000 balance, & 2030 maturity.


Property Details

Asset Type

MultiFamily

Year Built

1914

Lot Size

11,250 SF

Neighborhood

Little Havana

Submarket

Miami

ZIP

33135

Listing Type

sale


Offering Memorandum

Download

Net Operating Income (NOI)

$361,341

Debt Service Coverage Ratio (DSCR)

1.63x

Cap Rate

9.27%

Cash Flow (Annual)

$139,485

Cash-on-Cash Return

14.31%

Monthly Debt Service

$18,488

Annual Debt Service

$221,856

View on Map

Address

1362 Southwest 2nd Street

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Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale

No investors found in this market.

Contact the Listing Team

Oscar Arellano

Oscar Arellano

Sales Associate

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Oscar Arellano

Oscar Arellano

Sales Associate

9 closed

Call