1362 2nd St ,Detached, Quadruplex, Lawrence Estates Land Cos for Sale

1362 2nd St for Sale

Price $3,900,000.00

• Lot size 8019
• Year Build 1914
• Waterfront
• Zip 33135
• Style Detached
• Parking Description
• Pool Yes
• Status Pending

Description

High-performing 20-unit multifamily asset in the heart of Little Havana generating $339,480 in gross annual rent & $227,776 in NOI. Strong in-place income with plenty of upside?current rents are below Section 8 levels, offering immediate value-add potential through rental increases. Other features: newer roofs, upgraded PVC plumbing, & a history of consistent 100% occupancy. Unit mix: (1) 1-bed/2-bath, (14) 1-bed/1-bath, (4) 2-bed/1-bath, & (1) 2-bed/2-bath. Priced at just $195,000 per unit?rare for Little Havana with this level of stabilized income. 40-Year Recertifications have been completed. Attachments include the current rent roll, 2024 operating statement, & certification reports. Freddie Mac loan is assumable with a 3.83% interest rate, approx. $1,735,000 balance, & 2030 maturity.

Attachments include the current rent roll, 2024 operating statement, & certification reports.

LAWRENCE ESTATE LAND COS SUB PB 2-46 W1/2 LOT 7 & ALL LOT 8 BLK 82 LOT SIZE 11250 SQUARE FEET OR 20787-3725 1002 1

1/4 To Less Than 1/2 Acre Lot

High-performing 20-unit multifamily asset in the heart of Little Havana generating $339,480 in gross annual rent & $227,776 in NOI. Strong in-place income with plenty of upside?current rents are below Section 8 levels, offering immediate value-add potential through rental increases. Other features: newer roofs, upgraded PVC plumbing, & a history of consistent 100% occupancy. Unit mix: (1) 1-bed/2-bath, (14) 1-bed/1-bath, (4) 2-bed/1-bath, & (1) 2-bed/2-bath. Priced at just $195,000 per unit?rare for Little Havana with this level of stabilized income. 40-Year Recertifications have been completed. Attachments include the current rent roll, 2024 operating statement, & certification reports. Freddie Mac loan is assumable with a 3.83% interest rate, approx. $1,735,000 balance, & 2030 maturity.

City:Miami,Roof:1:Flat Roof With Facade Front,Zoning:3901,List A O R:A-Miami Association of REALTORS,Stories:1,Tax Year:2024,Latitude:25.7711478,Cooling Y N:1,Heating Y N:1,List Price:3900000,Listing Id:A11793460,Longitude:-80.2174904,Mls Status:Pending,Year Built:1914,Living Area:8019,Postal Code:33135,Street Name:2nd St,Coordinates:1:25.7711478,Photos Count:30,Building Name:LAWRENCE ESTATES LAND COS,Days On Market:2,Listing Terms:1:Conventional,Lot Size Units:Square Feet,M I A M I R E_ Area:41,M L S Area Major:Lawrence Estates Land Cos,On Market Date:2025-04-30,Parcel Number:01-41-02-006-2220,Parking Total:11,Property Type:Residential Income,Rent Includes:1:Hot Water,2:Gardener,3:Pest Control,4:Sewer,5:Trash Collection,6:Water,Stories Total:1,Street Number:1362,M I A M I R E_ Style:Fourplex,Public Remarks:High-performing 20-unit multifamily asset in the heart of Little Havana generating $339,480 in gross annual rent & $227,776 in NOI. Strong in-place income with plenty of upside?current rents are below Section 8 levels, offering immediate value-add potential through rental increases. Other features: newer roofs, upgraded PVC plumbing, & a history of consistent 100% occupancy. Unit mix: (1) 1-bed/2-bath, (14) 1-bed/1-bath, (4) 2-bed/1-bath, & (1) 2-bed/2-bath. Priced at just $195,000 per unit?rare for Little Havana with this level of stabilized income. 40-Year Recertifications have been completed. Attachments include the current rent roll, 2024 operating statement, & certification reports. Freddie Mac loan is assumable with a 3.83% interest rate, approx. $1,735,000 balance, & 2030 maturity.,Structure Type:1:Fourplex,County Or Parish:Miami-Dade County,List Office Name:BHHS EWM Realty,Private Remarks:Attachments include the current rent roll, 2024 operating statement, & certification reports.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2366,Property Sub Type:Quadruplex,State Or Province:FL,Street Dir Prefix:SW,Subdivision Name:LAWRENCE ESTATES LAND COS,Tax Annual Amount:47732,Unparsed Address:1362 SW 2nd St, Miami FL 33135,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:8019,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:486.3449,Original List Price:3900000,Public Survey Range:41,Documents Available:1:Other Available Information,2:Rent Rolls,I D X Participation Y N:1,Number Of Units Total:20,Syndication Remarks:High-performing 20-unit multifamily asset in the heart of Little Havana generating $339,480 in gross annual rent & $227,776 in NOI. Strong in-place income with plenty of upside?current rents are below Section 8 levels, offering immediate value-add potential through rental increases. Other features: newer roofs, upgraded PVC plumbing, & a history of consistent 100% occupancy. Unit mix: (1) 1-bed/2-bath, (14) 1-bed/1-bath, (4) 2-bed/1-bath, & (1) 2-bed/2-bath. Priced at just $195,000 per unit?rare for Little Havana with this level of stabilized income. 40-Year Recertifications have been completed. Attachments include the current rent roll, 2024 operating statement, & certification reports. Freddie Mac loan is assumable with a 3.83% interest rate, approx. $1,735,000 balance, & 2030 maturity.,Listing Contract Date:2025-04-30,Originating System I D:miamire,Public Survey Section:2,Showing Instructions:Call Listing Agent,Street Number Numeric:1362,Tax Legal Description:LAWRENCE ESTATE LAND COS SUB PB 2-46 W1/2 LOT 7 & ALL LOT 8 BLK 82 LOT SIZE 11250 SQUARE FEET OR 20787-3725 1002 1,Public Survey Township:41,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Adjusted Area S F:7031,M I A M I R E_ Internet Remarks:High-performing 20-unit multifamily asset in the heart of Little Havana generating $339,480 in gross annual rent & $227,776 in NOI.,Contract Status Change Date:2025-04-30,Internet Address Display Y N:1,Number Of Units In Community:3,M I A M I R E_ Ok To Advertise List:No,Internet Entire Listing Display Y N:1,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:486.34,