542 7th St , for Sale & Rent

542 7th St for Sale & Rent

Price $5,500,000.00

• Lot size 12437
• Year Build
• Waterfront
• Zip 33130
• Style
• Parking Description
• Pool Yes
• Status Active

Description

This is a new 33-bedroom co-living building in Little Havana designed to provide affordable, convenient, and move-in ready housing for middle-income renters aged 25-35 with incomes between $45k-$150k. Each private room comes with a unique digital lock for security, fully furnished, all utilities-included, professionally cleaned, and periodically serviced. Some rooms have shared bathrooms, while others have en-suite bathrooms, and the building has communal spaces such as spacious living rooms and fully equipped kitchens. Sellers have the option to sign a 5 year master lease with Common/Habyt, a multi-million dollar company and the world?s largest operator of co-living properties which comes with a corporate guarantee of an NOI of $282,673 and them assuming all maintenance costs.

The property is a unique investment opportunity that provides an appealing alternative for renters seeking affordability without sacrificing quality or location. Given the potential net income this property has minimal operational and maintenance expenses making it a perfect turn-key investment opportunity.

CITY OF MIAMI SOUTH PB B-41 N85FT LOT 6 BLK 48 & S65FT OF LOT 6 BLK 48 LESS S43.87FT OF W27.50FT & S21.10FT OF E22.50FT OF LOT 6 BLK 48 LOT

This is a new 33-bedroom co-living building in Little Havana designed to provide affordable, convenient, and move-in ready housing for middle-income renters aged 25-35 with incomes between $45k-$150k. Each private room comes with a unique digital lock for security, fully furnished, all utilities-included, professionally cleaned, and periodically serviced. Some rooms have shared bathrooms, while others have en-suite bathrooms, and the building has communal spaces such as spacious living rooms and fully equipped kitchens. Sellers have the option to sign a 5 year master lease with Common/Habyt, a multi-million dollar company and the world?s largest operator of co-living properties which comes with a corporate guarantee of an NOI of $282,673 and them assuming all maintenance costs.

City:Miami,Zoning:6107,List A O R:A-Miami Association of REALTORS,Latitude:25.7668458,List Price:5500000,Listing Id:A11391466,Longitude:-80.2033671,Mls Status:Active,Directions:All leases are long-term, and the bedrooms function as studios, yielding higher rents per square foot for investors while spreading risk across a broader spectrum of tenants.,Postal Code:33130,Street Name:7th St,Coordinates:1:25.7668458,Photos Count:22,Business Type:1:Commercial/Residential Income,Days On Market:436,Lot Size Units:Square Feet,M I A M I R E_ Area:41,On Market Date:2023-05-09,Parcel Number:01-02-04-080-1060,Property Type:Commercial Sale,Street Number:542,Public Remarks:This is a new 33-bedroom co-living building in Little Havana designed to provide affordable, convenient, and move-in ready housing for middle-income renters aged 25-35 with incomes between $45k-$150k. Each private room comes with a unique digital lock for security, fully furnished, all utilities-included, professionally cleaned, and periodically serviced. Some rooms have shared bathrooms, while others have en-suite bathrooms, and the building has communal spaces such as spacious living rooms and fully equipped kitchens. Sellers have the option to sign a 5 year master lease with Common/Habyt, a multi-million dollar company and the world?s largest operator of co-living properties which comes with a corporate guarantee of an NOI of $282,673 and them assuming all maintenance costs.,County Or Parish:Miami-Dade County,List Office Name:Fausto Commercial Realty Consultants Inc,Private Remarks:The property is a unique investment opportunity that provides an appealing alternative for renters seeking affordability without sacrificing quality or location. Given the potential net income this property has minimal operational and maintenance expenses making it a perfect turn-key investment opportunity.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Decrease,Postal Code Plus4:3412,Property Sub Type:Income/MultiFamily,State Or Province:FL,Street Dir Prefix:SW,Tax Annual Amount:7502,Unparsed Address:542 SW 7th St, Miami FL 33130,Listing Agreement:Exclusive Right To Sell,Building Area Total:12437,Building Area Units:Square Feet,Lot Size Square Feet:5875,Original List Price:6500000,Previous List Price:5900000,I D X Participation Y N:1,Syndication Remarks:This is a new 33-bedroom co-living building in Little Havana designed to provide affordable, convenient, and move-in ready housing for middle-income renters aged 25-35 with incomes between $45k-$150k. Each private room comes with a unique digital lock for security, fully furnished, all utilities-included, professionally cleaned, and periodically serviced. Some rooms have shared bathrooms, while others have en-suite bathrooms, and the building has communal spaces such as spacious living rooms and fully equipped kitchens. Sellers have the option to sign a 5 year master lease with Common/Habyt, a multi-million dollar company and the world?s largest operator of co-living properties which comes with a corporate guarantee of an NOI of $282,673 and them assuming all maintenance costs.,Listing Contract Date:2023-05-09,Originating System I D:miamire,Street Number Numeric:542,Tax Legal Description:CITY OF MIAMI SOUTH PB B-41 N85FT LOT 6 BLK 48 & S65FT OF LOT 6 BLK 48 LESS S43.87FT OF W27.50FT & S21.10FT OF E22.50FT OF LOT 6 BLK 48 LOT,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Visit Fausto Commercial for more opportunities.,M I A M I R E_ Showing Time Flag:1,Contract Status Change Date:2023-05-09,Internet Address Display Y N:1,Internet Consumer Comment Y N:1,Internet Entire Listing Display Y N:1,Internet Automated Valuation Display Y N:1,