305 Navarre AveCoral Gables, FL 33134

Property Details for 305 Navarre Ave

Year built

1962

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Coral Gables

County

Miami-Dade

State

Florida

Latitude

25.7543

Longitude

-80.2611

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