For Sale
$6,790,000

305 Navarre AveCoral Gables, FL 33134

17-Unit Apartment Complex, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents three income-producing apartment buildings totaling 17 units, situated on a substantial 24,650 square foot lot in the desirable Coral Gables, Florida, 33134 zip code. The property, encompassing 305, 311, and 315 Navarre Avenue, boasts a prime location steps from Miracle Mile and Alhambra Circle, offering unparalleled access to Coral Gables' vibrant shopping, dining, and business district. Built in 1962, these buildings are zoned MF2, presenting significant potential for future development and redevelopment. Currently generating a 4.60% cap rate, the asking price is $6,790,000, translating to an attractive price per unit of $452,353. This owner/user investment presents a compelling opportunity to acquire a well-located, established multifamily portfolio with strong potential for appreciation and future growth in a highly sought-after area. The assemblage offers immediate income generation alongside long-term development prospects. This is a rare chance to secure a significant foothold in the thriving Coral Gables real estate market. The property's strategic location and substantial lot size make it an ideal investment for both seasoned investors and those seeking a high-return, owner-user opportunity.

Highlights

  • $6,790,000 asking price for a 17-unit apartment building in Coral Gables, FL.
  • 4.60% cap rate.
  • $452,353 per unit.
  • Three buildings on a 24,650 sq ft lot.
  • Built in 1962.
  • MF2 zoning.

Property Details for 305 Navarre Ave

Property type
Apartment buildings
Year Built
1962
Buildings
3
Units
17

Location Insight

City
Coral Gables
County
Miami-Dade
State
Florida
Latitude
25.754340564556
Longitude
-80.261140254037
305 Navarre Ave, Coral Gables, Florida

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305 Navarre Ave
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