458 SW 9th St
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458 SW 9th St
8 Unit Apartment Building $2,700,000 ($337,500/Unit) 5.38% Cap Rate Miami, FL 33130
INVESTMENT HIGHLIGHTS
- The property allows easy access to I-95 which only two blocks away.
- Income producing property at available below market rates.
- Within walking distance to the vibrant, Downtown Brickell and the scenic Miami River.
- Situated in Southeast Little Havana, densely populated with extremely low vacancy rates.
EXECUTIVE SUMMARY
Introducing an investment opportunity nestled in the heart of West Brickell at 458SW 9th Street, Miami, FL 33130. This exclusive three-story property presents a fully occupied 8-unit building. The complex comprises five 2-bedroom/1-bath units and three 1-bedroom/1-bath units, each equipped with wall-unit air conditioning, refrigerators, ranges, and the convenience of on-site parking. The 2-bedroom units feature balconies, offering an extra amenity for residents. Constructed with durable CBS construction, the building is completing its 40-50-year certification, ensuring long-term stability and safety. Additionally, it houses a revenue-generating, leased washer and dryer facility on the premises. Tenant arrangements are flexible, with four units on month-to-month agreements and four secured with one-year lease contracts. Half of the units were remodeled, presenting an opportunity to adjust rent to market rates and further increase income potential. All units in the building are equipped with impact windows for enhanced safety and comfort. Located in Southeast Little Havana, the building stands in one of South Florida's most densely populated rental markets, with an exceedingly low vacancy rate. Its strategic position, just a block south of SW 8th Street – one of Miami's major arteries – enhances its allure. The property allows easy access to the I-95 expressway, only two blocks away, and is within walking distance to the vibrant downtown Brickell area and the scenic Miami River.
FINANCIAL SUMMARY (ACTUAL - 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$177,600
|
$25.77
|
| Other Income |
$1,350
|
$0.20
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$178,950
|
$25.97
|
| Taxes |
$22,191
|
$3.22
|
| Operating Expenses |
$11,382
|
$1.65
|
| Total Expenses |
$33,573
|
$4.87
|
| Net Operating Income |
$145,377
|
$21.10
|
FINANCIAL SUMMARY (ACTUAL - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $177,600 |
| Annual Per SF | $25.77 |
| Other Income | |
|---|---|
| Annual | $1,350 |
| Annual Per SF | $0.20 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $178,950 |
| Annual Per SF | $25.97 |
| Taxes | |
|---|---|
| Annual | $22,191 |
| Annual Per SF | $3.22 |
| Operating Expenses | |
|---|---|
| Annual | $11,382 |
| Annual Per SF | $1.65 |
| Total Expenses | |
|---|---|
| Annual | $33,573 |
| Annual Per SF | $4.87 |
| Net Operating Income | |
|---|---|
| Annual | $145,377 |
| Annual Per SF | $21.10 |
PROPERTY FACTS
| Price | $2,700,000 | Building Class | C |
| Price Per Unit | $337,500 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 6,891 SF |
| Cap Rate | 5.38% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 1.31/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $2,700,000 |
| Price Per Unit | $337,500 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,891 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1972 |
| Parking Ratio | 1.31/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
| 1+1 | 3 | - | - |
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (88)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 01-0206-070-1090 | Total Assessment | $1,119,836 (2024) |
| Land Assessment | $0 (2024) | Annual Taxes | $22,191 ($3.22/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
01-0206-070-1090
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$1,119,836 (2024)
Annual Taxes
$22,191 ($3.22/SF)
Tax Year
2022
ZONING
| Zoning Code | T4-R (3900 - MULTI-FAMILY - 38-62 U/A) |
| T4-R (3900 - MULTI-FAMILY - 38-62 U/A) |
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