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1053 NW 29th St

5 Unit Apartment Building $2,599,000 ($519,800/Unit) 6.24% Cap Rate Miami, FL 33127

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INVESTMENT HIGHLIGHTS

This investment property boasts 5 fully-furnished units, allowing for immediate rental income without the need for additional expenses.
The property features a secure gated entrance and parking for up to 8 cars, providing security for both tenants and investors.

Tenants' needs are met with the convenience of in-unit washers and dryers, enhancing the property's appeal and ensuring it remains in high demand.
The property's proximity to Wynwood, Healthcare District, Miami Beach and Miami International Airport positions it in a great location.

EXECUTIVE SUMMARY

Presenting 1053 NW 29th Street, a small boutique multi-family property available for investors in Miami, Florida. This meticulously maintained three-story building has a total of 5 fully furnished units, with 4 units consisting of 2 bed/2 bath and 1 unit of 1 bed/1 bath. Every unit ensures a hassle-free transition for tenants and provides immediate rental income. The inclusion of an in-unit washer and dryer in each unit adds to the property's appeal, making it even more attractive to potential tenants. For tenant safety and security, the property features gated parking for up to 8 cars. Monthly Rent includes utilities
It is strategically located in a growing market near Wynwood, Health Districts, Miami Beach, Miami International Airport and major highways, including I-95 and I-195. This investment opportunity at 1053 NW 29th St is the perfect blend of style, convenience, and security, making it a lucrative asset in the heart of Miami.

NOI Cap Rates Casa Flambo 10.2024 Sale Price $2,645,000. PDF

Operating and Financials

PROPERTY FACTS

Price	$2,599,000	Building Class	B
Price Per Unit	$519,800	Lot Size	0.13 AC
Sale Type	Investment	Building Size	7,653 SF
Cap Rate	6.24%	Average Occupancy	96%
Sale Conditions	1031 Exchange Bulk/Portfolio Sale Lease Option	No. Stories	3
No. Units	5	Year Built	2021
Property Type	Multifamily	Parking Ratio	1.05/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	$2,599,000
Price Per Unit	$519,800
Sale Type	Investment
Cap Rate	6.24%
Sale Conditions	1031 Exchange Bulk/Portfolio Sale Lease Option
No. Units	5
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	B
Lot Size	0.13 AC
Building Size	7,653 SF
Average Occupancy	96%
No. Stories	3
Year Built	2021
Parking Ratio	1.05/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.