1132 NW 3rd Street

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1132 NW 3rd Street

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

What's Special

1132 NW 3rd Street is located in the Overtown neighborhood of Miami, situated just west of the downtown corridor. The property offers proximity to the Health District and the Brightline MiamiCentral station, providing access to regional rail transportation. Local amenities include Gibson Park and several nearby grocery options, while major thoroughfares like I-95 are accessible within a few blocks. The surrounding area consists of a mix of residential buildings and historic commercial sites currently undergoing urban infill development. The asset is suited for a multifamily rental strategy targeting a workforce tenant profile. Given its location near major employment hubs in Downtown Miami and the Jackson Memorial Hospital complex, the property is positioned for residents seeking commutable housing options. Potential use cases include long-term market-rate rentals or subsidized urban housing units. The building typically appeals to individuals employed in the service, healthcare, or government sectors who prioritize transit-oriented living.

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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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