2400 NW 16th St Rd, Miami FL 33125

About This Property

Current cap rate: 7%. Exceptional 27-unit multifamily property in the heart of Little Havana. Strong and stable income with significant upside potential through rent adjustments or renovations. All units are currently under contract, with most leases recently renewed through May 2027, providing immediate income stability. Units rent quickly with minimal annual turnover, and the majority of tenants are long-term residents. Property features include central A/C, a new elevator, swimming pool, laundry facilities with new machines, impact windows and doors, and ample parking. Prime location just minutes from Brickell, Downtown Miami, and Coral Gables.

Property Details

Property Type

Income/MultiFamily

Status

Active

MLS #

A12018511

Building Area

25,899 SF

Lot Size

18,731 SF

Year Built

1974

Zoning

4600

Days on Market

86

Price

$8,200,000