1729 NW 1st St, Miami, FL 33125

Colliers International is pleased to present the opportunity to acquire a six-unit multifamily property in Little Havana, FL. The property is located steps from Marlins Park and has quick access to major highways and Downtown Miami.

We believe the highest and best use for the property is achieved by slightly improving the units and property with $75,000 of capital expenditures to raise rents by $150-$200 per unit. The prospective buyer’s business plan should therefore be to acquire the property using debt at 75% LTV (or more) with a 6% interest rate and hold the property for 5 years. The investor will be stabilizing the property in year 2 with a cap rate of approximately 7%.

Prime location in the heart of Little Havana
Owner financing available with a 30 year maturity
Rental rates experiencing double digit growth in the area during the last few years
Changing demographic of the area’s population is young and they require new retailers to provide more amenities and services