2010 SW 25th Ter - Apartments FOR SALE


Miami, FL 33133
$8,100,000 USD
954-245-3492
2010 SW 25th Ter, Miami, FL for Sale
$8,100,000 USD
Apartments - FOR SALE
1/18
null | 5.18% Cap Rate

2010 SW 25th Ter
Miami, FL 33133


HIGHLIGHTS

  • Silver Cove apartments were built in 2021 and offer 18 units in the mid-rise apartment building with high-quality finishes.
  • Its location is proximate to Coconut Grove, Coral Way, Downtown Miami (Brickell), and Coral Gables.
  • Average in-place rents are 15-20% below market rate, enabling an investor to stabilize to a 6%+ cap rate.
  • The large two-to-three-bedroom units range from 972 to 1,034 square feet with private balconies and washers and dryers in-unit.
  • Featuring a flat concrete roof, a gated parking garage, an enclosed mail room, and a central elevator.
  • The surrounding average household income is $127,647 with a 9.9% population growth since 2010 (Experian).

OVERVIEW

Silver Cove is a four-story concrete building featuring 18 apartments totaling 33,424 square feet on a 12,883-acre lot (per Miami Dade Property Assessor). The unit mix includes 20,373 leasable square feet with three two-bed/ one-bath apartments averaging 972 square feet, nine two-bed/ two-bath apartments averaging 1,071 square feet, and six three-bed/ two-bath apartments averaging 1,304 square feet. Each unit offers a balcony, central air conditioning, contemporary finishes, and in-unit washers and dryers. The property features a flat (concrete) roof, with gated parking on the first floor totaling 29 spaces, an enclosed mailroom within the lobby, and a central elevator.

FOR SALE DETAILS

PRICE

$8,100,000 USD

PRICE/SF

$242 USD /SF

# OF UNITS

18

PRICE/UNIT

$450,000

CAP RATE

5.18%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Silver Cove

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2021

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

T5-R

APN/PARCEL ID

01-4115-005-0220

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.