193 NW 58th St

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193 NW 58th St

Miami, FL 33127
Asking Price
$3.25M
Asset Type
Multifamily
Class
Class B

What's Special

193 NW 58th St is located in the Little Haiti neighborhood of Miami, situated just north of the Design District and Wynwood. The property sits within a residential pocket characterized by a mix of single-family homes and low-rise multifamily buildings. Residents have direct access to local retailers along NW 2nd Avenue and the nearby I-95 expressway, facilitating commutes to Downtown Miami and Miami International Airport. The area is served by several Miami-Dade Transit bus routes, providing affordable connectivity to major regional employment centers. The asset is positioned for long-term multifamily use, catering to Miami’s growing workforce and the local service-sector population. The location is suitable for a value-add renovation or a buy-and-hold strategy focused on providing attainable housing options. Typical tenants include individuals and families employed in the nearby hospitality, retail, and logistics industries who prioritize proximity to urban cores and public transportation. Constraints on new housing supply in the immediate submarket support a consistent demand for established rental units in this tier.

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NOI
$80,000
Cap Rate
2.46%
DSCR
0.41
Underwater
Cash-on-Cash
-11.58%
Monthly Payment
$16,079.227
Annual Cash Flow
$-112,950.721

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