For Sale
$2,300,000

550 10Th StMiami, FL 33130

Eight-unit building, high rental income.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 8-unit multifamily property, known as Havana House, presents a lucrative investment opportunity in the vibrant Miami, Florida market. Located at 550 SW 10th St, Miami, FL 33130, this two-story building, constructed in 1954, boasts a prime location near Brickell and Little Havana, making it ideal for both long-term and short-term rentals. The property recently underwent significant upgrades, including a complete roof replacement in 2024, ensuring long-term structural integrity. All windows are impact-resistant, providing both security and energy efficiency. Plumbing upgrades were completed in 2023, enhancing functionality and reducing maintenance concerns. The laundry facility also received a recent upgrade. The building itself has been freshly painted, presenting a well-maintained exterior. The property comprises eight spacious one-bedroom, one-bathroom units, each with assigned parking. Three units have been tastefully remodeled, while the remaining five are in excellent condition. All tenants are currently on month-to-month leases. The property has successfully completed its 40-year recertification, eliminating any immediate concerns. With a current market rent of $2,000 per unit, the annual rental income projects to $192,000, resulting in a CAP rate exceeding 7%. The asking price for this exceptional investment is $2,300,000. Please respect the privacy of the tenants.

Highlights

  • 8-unit multifamily property in Miami, FL, near Brickell & Little Havana.
  • Recently renovated with new roof (2024), impact windows, and updated plumbing (2023).
  • Eight 1-bed/1-bath units, three remodeled, five in excellent condition; assigned parking.
  • All units on month-to-month leases; $2,000/month current market rent, projecting $192,000 annual income.
  • Asking price: $2,300,000; CAP rate exceeding 7%; 40-year recertification complete.

Property Details for 550 10Th St

Property type
Year Built
1954
Buildings
1
Stories
2

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.763938
Longitude
-80.2032708
550 10Th St, Miami, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
550 10Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message