Unit Valencia South Miami
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Available on
December 15, 2023
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Time on Market
4 months
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Last updated
Dec 14, 2023
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Space ID
2151437
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Presented By
Marcus and MillichapJoseph P. Thomas
Property Details
Newer construction (built in 2004). 301 units (294 condos / 7 commercial units). Six story building with structured parking garage (access to 126 deeded spaces). Large average unit size of 1,050 SF and 9'+ ceilings. Six desirable floorplans, with the majority being attractive 2 / 2 offerings. Luxury amenity package including resort-style pool, cabana sitting areas, fitness center, controlled access, and other competitive offerings . Current ownership has control of the COA with three out of five board seats. 100% of the 70 units are available for strategic value-add renovation strategy. Upside potential exceeding $350+/month/unit. Strong leasing support within the complex . Affluent renter base with ability to support value add strategy. Significant discount to homeownership of $1,500+ per month. Incredibly walkable location with a walk score of 93. Average household income of $148,165 (3-mi. radius, Alteryx). Median Home Price of $880K in 33143 zip code, and $940K in South Miami (Redfin, Aug-23). 46% of the population has a BA or higher (1-mile, CoStar). Leading employment sector for the one, three, and 5-mile radius is Education and Health Services . ~1 mile away from The University of Miami. Close proximity to Baptist Health South Miami Hospital (walking distance) and the Metrorail (adjacent to Valencia). Near major employment and retail centers such as the Dadeland Mall & surrounding retail, Coconut Grove, Coral Gables, and The Shops at Sunset Place
- Property TypeMulti-Family
- Total Building Size73,522RSF
- Total Available73,522RSF
- Last updatedDec 15, 2023
- Property ID2230098