Sunset Apartments 8951 Sunset Dr 129 Unit Apartment Building For Sale Miami, FL 33173
INVESTMENT HIGHLIGHTS
- Significant Value-Add Opportunity
- Excellent Positioning
- Rapid Commutes to Miami's Best Neighborhoods
- Priced Below Replacement Cost
- Suppy-Constrained Submarket
EXECUTIVE SUMMARY
Avison Young is pleased to exclusively offer for sale the Sunset Apartments, a 129-unit, 90,793 SF NRA apartment community positioned on a ±3.57 AC parcel located in Miami’s desirable Kendall suburb. Built in 1970, this well-maintained property represents a rare opportunity to acquire a value-add multifamily asset for well-below construction cost in one of Miami-Dade County's most sought-after residential markets. Sunset Apartments features spacious unit layouts, ample parking, and a compelling location, providing a strong foundation for rental growth through targeted renovations.
Sunset Apartments offers significant upside potential for investors, with market rents in Kendall averaging $2,333 per unit and opportunities to bridge the gap through unit modernization and operational efficiencies. Positioned in a supply-constrained submarket with only 678 units under construction, this Property presents a compelling investment opportunity to secure stable cash flow and long-term value appreciation in Miami's thriving multifamily market.
Sunset Apartments offers significant upside potential for investors, with market rents in Kendall averaging $2,333 per unit and opportunities to bridge the gap through unit modernization and operational efficiencies. Positioned in a supply-constrained submarket with only 678 units under construction, this Property presents a compelling investment opportunity to secure stable cash flow and long-term value appreciation in Miami's thriving multifamily market.
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 129 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.57 AC |
| Building Size | 90,793 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 2.09/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Kitchen
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 62 | - | 655 - 705 |
| 2+1 | 67 | - | 761 |
PROPERTY TAXES
| Parcel Number | 30-4028-000-0100 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $15,380,370 |
ZONING
| Zoning Code | RU-4M (Residential Urban) |
