1132 NW 3rd St

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1132 NW 3rd St

Miami, FL 33128
Asking Price
$2.50M
Asset Type
Multifamily
Class
Class B

What's Special

1132 NW 3rd St is situated in the Overtown neighborhood of Miami, adjacent to the Health District and Lummus Park. This central location offers proximity to major employment hubs, including the Jackson Memorial Hospital complex and the Miami-Dade County courthouse area. Residents have convenient access to the Underdeck green space project and the Miami River district nearby. The property is well-connected to public transit, with multiple bus routes and the Culmer Metrorail station within walking distance, providing direct transit links to Downtown Miami and Brickell. This multifamily asset is suited for workforce housing or mid-market rental repositioning. Given the proximity to the medical district and government offices, typical tenants include healthcare professionals, administrative staff, and service workers seeking commutes under fifteen minutes. The location also appeals to graduates and young professionals looking for an urban residential setting with lower density than the neighboring high-rise districts. The site supports long-term occupancy due to its accessibility to the city’s primary Expressway infrastructure and major regional employers.

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NOI
$80,000
Cap Rate
3.20%
DSCR
0.54
Underwater
Cash-on-Cash
-9.12%
Monthly Payment
$12,368.636
Annual Cash Flow
$-68,423.631

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