This 20-unit multifamily asset, located in the historic Little Havana neighborhood of Miami, Florida, exemplifies mid-20th century multifamily architecture with practical design focused on rental efficiency. Built decades ago but featuring recent renovations such as newer roofs and upgraded PVC plumbing, it maintains a strong legacy of 100% occupancy. Currently generating $339,480 in gross annual rent and $227,776 NOI, the property presents substantial upside potential due to rents below Section 8 levels. Priced at $3,900,000 ($195,000 per unit), with completion of 40-year recertifications and an assumable Freddie Mac loan at 3.83% interest, this is a rare income-stabilized investment opportunity in Miami’s vibrant community.

Aerial View of Property

Aerial perspective highlights a residential property outlined in yellow, positioned centrally amidst a dense neighborhood. The property consists of two main buildings with traditional orange-tiled roofs, common in historic homes. The structures are separated by paved parking spaces accommodating several vehicles. Surrounding the property, tall mature trees add greenery and shade, blending the home into its urban environment. Neighboring buildings vary in height and style, with a mix of flat and angled roofs. Streets, sidewalks, and utility poles frame the scene, creating a harmonious blend of historic architecture and urban planning typical of a well-established American neighborhood.

Neighborhood Aerial View

The aerial perspective highlights a dense urban neighborhood with a mixture of mid-rise residential buildings and single-family homes. The scene is dominated by a backdrop of high-rise skyscrapers, suggesting proximity to a bustling downtown area with modern architecture and business centers. A yellow arrow pinpoints a particular property, standing amidst leafy green trees which add a calming natural contrast to the developed surroundings. The sky is clear with streaks of clouds, contributing to the overall bright and vibrant atmosphere. Streets and rooftops are neatly arranged, reflecting an organized and well-established community layout.

Exterior Entrance and Parking

Two large trees with sprawling roots frame the gated entrance to a residential property, creating a natural canopy over the paved driveway and sidewalk. The building beyond has a light beige exterior with a reddish-tiled roof, characteristic of Mediterranean Revival architecture. Multiple windows, some with air conditioning units, punctuate the walls. A black wrought iron fence and gate encloses the parking area, where several vehicles are parked. The overall scene conveys a quiet, urban residential environment with mature landscaping providing shade and a sense of seclusion.

Historic Property Aerial

Red terracotta roof tiles dominate the aerial view of this historic American property, providing a classic Mediterranean or Spanish colonial style aesthetic. The buildings reveal a mix of flat and sloped rooftops, with exterior staircases connecting the multiple levels. A paved parking area with several cars lines one side of the complex, revealing functional outdoor space. Mature green trees border the property, offering natural shade and contrasting beautifully against the warm roof tones. The layout suggests a multi-unit residence or mixed-use complex nestled in a residential neighborhood with varied architectural styles.

Apartment Exterior and Parking

Two-story beige buildings with exterior staircases connecting the upper-floor apartments stand adjacent to a parking area. The asphalt parking lot holds several vehicles, with marked parking spaces. The buildings have small windows fitted with air conditioning units, and doors that open directly to the outside. Black metal railings line the staircases and balcony walkways. The aesthetic is utilitarian and straightforward, with minimal architectural ornamentation. The roofs are flat with light overhangs and some Spanish-style red tile accents visible. Surrounding greenery and a bright blue sky add color contrast to the neutral building tones.

Exterior Courtyard

The courtyard area presents a functional outdoor space surrounded by two light beige stucco buildings with flat roofs and terra cotta tiles. Exterior stairs with metal railings lead to the second floors, emphasizing a multi-unit residential layout. The courtyard is paved with asphalt, demarcated with yellow parking lines, and features parked vehicles, including a gray sedan and a white SUV. A tall palm tree adds a touch of greenery, contrasting with mature oak trees in the background. Windows have metal security bars, and air conditioning units are mounted externally. The overall aesthetic is utilitarian with a muted color palette common in older apartment complexes.

Aerial View of Property

A cluster of buildings with distinct red tile roofs dominates the view, surrounded by lush green trees providing natural shading. The layout includes multiple structures with a combination of flat and sloped roofing. A paved parking area, marked with yellow lines, fits several cars. Staircases lead to second-floor entrances, adding vertical access points. The nearby buildings have simpler, more utilitarian designs with flat roofs. The combination of historic architectural elements and modern infrastructure creates an inviting, vibrant neighborhood atmosphere highlighted by mature vegetation and tidy surroundings.

Living Room and Dining Area

The living room opens into a small dining space and possibly a bedroom beyond, indicated by the floral bedspread seen through the back doorway. Brown leather seating dominates the room, including a sofa with two bright yellow cushions, a reclining chair, and an armchair, creating a cozy atmosphere. Walls painted a soft cream tone hold colorful nature-themed paintings, bringing warmth and vibrancy. Light wood flooring flows through the areas, complemented by minimalistic black metal and glass TV stand. An air conditioning unit sits under the window, highlighting practical comfort amidst the inviting, casual décor.

Bedroom with Bathroom Entrance

The room reveals a cozy bedroom with a floral bedspread in shades of yellow and green on a white background, creating a fresh and inviting atmosphere. Light beige walls are paired with soft brown curtains covering a window that lets natural light in. A white ceiling fan with lights provides overhead illumination. A flat-screen TV is mounted on one wall above a small religious cross. Opposite the bed, a white dresser topped with decorative items and a large mirror stands beside the window. An open doorway reveals an adjacent bathroom with white fixtures and light wood flooring, matching the bedroom’s flooring for continuity.

Bathroom Vanity and Shower

Compact bathroom with a neutral color palette combining soft beige tiles and off-white painted walls. A modern white vanity with clean lines sits beneath a white-framed medicine cabinet mirror, illuminated by a three-light fixture, adding brightness. The sink countertop holds a soap dispenser and bar soap in muted tones, and a small potted plant rests atop the toilet tank, bringing a touch of greenery. A shower curtain with a bold pattern of overlapping circles in white, black, and green creates a contemporary contrast, injecting personality into the otherwise minimalist setting.

Small Kitchen Nook

A narrow kitchen area with white cabinetry and a matching white refrigerator. The space is accented by light wood-look flooring that adds warmth to the otherwise neutral palette of white and beige walls. A small round table with wooden top and metal frame is paired with metal chairs, showing some wear and tear on the seats. On the left wall, a photo of the Eiffel Tower adds a personal touch. The compact kitchen has essential appliances and countertop items, making efficient use of the limited space in a simple, functional layout.

Dining Area and Living Room

A small dining area with a white oval table and four cushioned brown chairs occupies the foreground. The table is decorated with a green bowl holding colorful artificial fruits. The flooring is light wood laminate that extends through the adjacent living area. Through a wide, open doorway framed in white trim, a cozy living room contains two dark brown leather recliners and a matching sofa adorned with bright yellow pillows. Beige walls complement the warm, earthy color accents. Sheer curtains with an autumnal pattern hang on a window above a white cabinet. Walls are adorned with vibrant paintings and a round mirror, enhancing the inviting, homey atmosphere.

Dining Nook and Living Area

A compact dining area contains a white oval table with four taupe cushioned chairs featuring metal legs, set against pale cream walls which enhance the light, airy atmosphere. A transparent protective cover lies over the table. Adjacent is a cozy living space furnished with a dark brown leather sofa accented by yellow and cream pillows. Light wood flooring runs throughout, providing warmth. Wall art includes an autumn scene above the sofa and a series of small framed pictures along one wall. A small, black side table holds floral arrangements, adding a soft decorative touch. Bright white trim and doors maintain a crisp, clean look.

Kitchen Sink and Countertop

White cabinetry with simple silver handles lines the kitchen, paired with a gray marble countertop and matching backsplash that adds a subtle texture contrast. A double basin sink is centrally positioned under a window with white horizontal blinds, allowing natural light to brighten the space. Small decorative plants and fruit bowls add a touch of color. A white refrigerator stands flush with the cabinets on the left, while a white paper towel holder is integrated into the upper cabinets on the right. The floor features neutral rugs that complement the light tones throughout the kitchen.

Bathroom Vanity and Shower

Compact bathroom space with a white door partially open leading into the room. A white vanity with a single faucet and soap dispenser sits beneath a rectangular mirror with three light bulbs on top. The walls are painted a soft beige, adding warmth to the small room. A framed floral and perfume bottle artwork hangs on the wall above the toilet, which is topped with a small potted plant. Next to the toilet, a unique trash can is visible. On the right, a colorful shower curtain with large floral and stone motifs adds a fresh, natural aesthetic to the space.

Galley Kitchen Corridor

A long, narrow kitchen with a clean and simple design employs white cabinetry along one wall, offering abundant storage space between upper and lower cabinets with sleek silver handles. The white electric stove and matching refrigerator blend seamlessly into the neutral palette. Light wood flooring adds warmth against the otherwise white-dominated space, while a single ceiling light provides illumination. A stack of white plastic chairs and a wooden armchair sit to one side, suggesting extra seating for gatherings. A large wooden-framed mirror reflects an adjacent dining area with a small table, chairs, and landscape artwork that adds a touch of rustic charm.

Cozy Kitchen Nook

Light wood flooring extends warmth to the compact dining space, where a simple white table pairs with a mix of wooden and metal-legged chairs, offering a casual setting. Neutral walls create a bright background for artistic wall decor, including a large landscape painting and several smaller framed pictures clustered around a wooden pendulum clock. A white door adds subtle contrast, while a wooden column with an ornamental plate mounted above introduces a vintage charm. The minimalist kitchen corner glimpsed on the left exhibits light cabinetry and cozy accents, balancing practicality with character.

Bedroom with Bunk Beds

Simple bedroom containing a metal-framed bunk bed with lavender bedding and a full-sized bed with white sheets, complemented by soft pink and coral pillows. The walls are painted a pale cream, contributing to the room’s minimalistic and airy feel. A single window with bright blue curtains allows natural light to filter through, adding a touch of vibrant color to the otherwise neutral space. The floor is tiled with white tiles outlined in dark grout, matching the understated yet functional atmosphere. The modest design emphasizes practicality and comfort within a compact layout.

Kitchen and Sitting Area

The compact kitchen is equipped with white cabinetry and appliances, including a refrigerator, stove, and microwave. Counter space is limited, with shelves holding various spices and kitchen essentials neatly arranged. The floor is tiled with large square white tiles outlined by dark grout. Adjacent to the kitchen area is a simple black upholstered sofa, creating a small sitting or lounging zone. The walls are painted a light beige or cream, maintaining a neutral palette. Above the doorway, a lace curtain with a small decorative piece adds a touch of charm. The overall aesthetic blends practical functionality with subtle homey accents.

Listing Agent: Oscar Arellano Jr. of BHHS EWM Realty via Zillow