Avison Young is pleased to offer for sale the Havana Apartments, a 16-unit apartment building and adjacent lot located at 3237 and 3253 SW 4th Street in Little Havana Miami, Florida.​

Unique to the area and competing apartment buildings in the sub-market.

SO The Property offers onsite parking to its residents on the adjacent 7,000 square foot vacant lot.​

This two-story, 9,120 square foot building was completely restored during 2021.​

AND Additionally, the interiors of the building and the 16 units were refurbished and updated.

Including the conversion of the large studios to comfortable one-bedroom, one-bath units.​

With an enviable location directly bordering the north Coral Gables business district and Miami’s Douglas Road corridor, the Property’s location is prime.​

Besides a superior residential location, the magnitude and quality of the building and unit renovations promises consistent high-level occupancy.

And a unique opportunity for an investor longing for a secure long-term investment.​

Highlights

• ​Location – Prominent locality.
  Situated in a central location in a stable, middle-class residential community in the West Flagler section of Miami and a few blocks from the affluent municipality of Coral Gables.
  Proximate to major intersection of Douglas Road (SW 37th Avenue), and amid Flagler Street and SW 8th Street (Calle Ocho).
• ​Property Condition – Completely refurbished.
  Building and all units renovated and upgraded during 2021.
  Comprehensive remodeling and restoration of building exteriors, common areas, grounds, interiors hallways, stairs, and all 16 units.
  Cost to date of major capital improvements approximates $750,000.
• ​Rents & Occupancy – Premium market rents with full occupancy.
  Property’s rents were increased by 30 percent from beginning of renovation to January 2022.
  Monthly market rents range from $1,600 to $1,800.
  Due to word-of-mouth, exceptional location, condition of building and unit interiors, the current occupancy is 100 percent.
  Two units already rented at $1,800 per month effective March 1st.
• ​Walkability – Walk Score of 72 (very walkable), and Transit Score of 53 (many nearby transportation options).
  Property’s location is in the West Flagler neighborhood where most errands can be accomplished on foot.
  Property is walking distance to Publix Super Market, the headquarters of Intercontinental Bank and MasTec, restaurants Versailles and La Carreta, Auburndale Elementary, Coral Gate Park, and Phillips Park.
• ​Demographics – Strong and favorable.
  This area of southwest Miami has a strong and favorable demographic base.
  Within a three-mile radius of the Property the average household income approximates $70,000, area home values range from $480,000 to $800,000.
  The median age is 43 years old.

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