1268 NW 3rd St Miami, FL 33125

Eleventrust is proud to present its newest exclusive listing, Marlins Park 4- Plex– Little Havana.This newly constructed building consists of four (4) two bedroom/two bathroom apartments, featuring hurricane impact windows and doors, central a/c, private balcony, tile floors and modern kitchens and bathrooms equipped with stainless steel appliances and granite countertops. The total rentable square footage is 3,351 (average unit size is 837 sq. ft.). The individual units are being leased at $1,600 a month in rent (or $1.91). Market rents in the area for this product type are at $1,650 a month (or $1.97 sq. ft.). The projected Net Operating Income once fully occupied (Sept. 2020) is $52,060 with a potential to grow to $54,412 in year 2 with a 4.53% capitalization rate. No Parking. The acquisition allows an owner/investor six distinct advantages: a) The opportunity to acquire a 2020 newly constructed, stabilized, cash flowing asset. Seventy-three percent (73%) of Multi-family buildings in Little Havana are 50 years or older. This building will attract renters that have been eagerly waiting for this type of product in the Little Havana sub-market; b) The opportunity to own commercial real estate without having to worry about managing major capital improvement projects for the next 20 years; c) The opportunity to acquire real estate in one of Miami’s fasting emerging markets – Little Havana, which is currently undergoing a major renaissance, attracting investors, developers and tenants with a great rental demographic profile. AHS-Little Havana is within close proximity to Downtown Miami, the Brickell Financial District, Wynwood Arts District and Health District, Airport.d) Owning an asset within Miami’s urban core will provide future tenants with better transportation options, shorter commute times and additional disposable income to pay rent; e) Vacancy rates in Little Havana on average are 2% ensuring a reliable cash flow for owner/investor; and f) The Zoning Code in Little Havana is currently undergoing a revitalization to it’s Master Plan. Once approved, the improved zoning code will spur another wave of development that will, over time, indirectly increase the property value of the subject property.