1110 7Th St, Miami, FL 33136
64 Unit Apartment Building | $13,000,000 ($203,125/Unit) | Miami, FL 33136
For Sale
Active
32 pictures
Asking Price $13,000,000
- Property Type
-
Multifamily
- Square Feet
- 18,000 SF
Listing Contacts
Carlos Fausto Miranda
Mauricio Villasuso
- Property Info
Property Overview
New Construction Co-Living Building in Riverside/Little Havana. This innovative living modality allows you to deliver newly built, high quality, beautifully designed and appointed housing options at pricing well below anything in the market. This building is designed for the missing-middle, the typical millennial or younger making $75k-150k, who has no other viable attractive rental options. This means you’ll never suffer a lack of tenants and can expect robust demand and long term rent growth. Two adjacent buildings, 1110 Saffron with Six 3/3s, Two 2/2s, Six 1/1s, and Plum with twelve 3/3s; totaling 64 rentable individual semi-autonomous bedrooms. Riverside is one of Miami’s most attractively developing neighborhoods. Riverside runs adjacent to the Miami River, north of Little Havana and just west of Downtown and Brickell. It borders the Civic Center, Downtown, and Brickell, all of Miami’s major engines of employment; and since residency follows employment, especially given the ease of car-less multi-modal transit to those sites, this is where people want to live. Both buildings together generate a pro-forma $941,160 per year and are at a 7.25% cap rate at asking price. Buildings can be sold together or separate.
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 3
- Lot Size (sq. ft)
- 11,326 SF
- Units
- 64
Highlights
- Co-Living building maximizing rentable SF and getting largest rent premiums
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