Description

Current cap rate: 7%. Exceptional 27-unit multifamily property in the heart of Little Havana. Strong and stable income with significant upside potential through rent adjustments or renovations. All units are currently under contract, with most leases recently renewed through May 2027, providing immediate income stability. Units rent quickly with minimal annual turnover, and the majority of tenants are long-term residents. Property features include central A/C, a new elevator, swimming pool, laundry facilities with new machines, impact windows and doors, and ample parking. Prime location just minutes from Brickell, Downtown Miami, and Coral Gables.

Address

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Address: 16th St
City: Miami
State/county: Miami-Dade
Zip/Postal Code: 33125
Area: Miami

Details

Updated on July 19, 2026 at 8:58 am

Property ID A12018511
Price $8,200,000
Land Area 0.43 Sq Ft
Year Built 1974
Type Multi Family
Property Status Commercial Sale

Additional details

AssociationFee 0
BuildingAreaTotal 25899
BuildingFeatures Elevator(s), Kitchen Facilities
CLIP 3452114078
CommunityFeatures Laundry Facilities, Pool
ConstructionMaterials Block
ContractStatusChangeDate 2026-05-13
Cooling Central Air
CumulativeDaysOnMarket 66
CurrentPrice 8200000
DaysOnMarket 66
DaysOnMarketReplication 66
DaysOnMarketReplicationDate 2026-07-18
DaysOnMarketReplicationIncreasingYN 1
DocumentsAvailable Contract(s), Financials, Lease, Other, Rent Rolls, Survey, Tax Information
DocumentsCount 0
Flooring Laminate, Other
GrossScheduledIncome 695952
Heating Central, Individual
InternetAddressDisplayYN 1
InternetEntireListingDisplayYN 1
ListAOR Miami REALTORS
ListAgentAOR Miami Association of REALTORS
ListAgentDirectPhone 954-995-8360
ListAgentEmail estebangsrealtor@gmail.com
ListAgentFirstName Juan
ListAgentFullName Juan Garcia
ListAgentKey 26766600
ListAgentKeyNumeric 26766600
ListAgentLastName Garcia
ListAgentMlsId SEF3580075
ListAgentNationalAssociationId 279667334
ListAgentOfficePhone 954-966-0631
ListAgentPreferredPhone 954-995-8360
ListAgentStateLicense 3580075
ListOfficeAOR Miami Association of REALTORS
ListOfficeEmail Keyes310@keyes.com
ListOfficeKey 5904123
ListOfficeKeyNumeric 5904123
ListOfficeMlsId SEFKEYE33
ListOfficeName The Keyes Company
ListOfficePhone 954-966-0631
ListingAgreement Exclusive Right To Sell
ListingContractDate 2026-05-13
ListingKey 1159981518
ListingKeyNumeric 1159981518
LotSizeArea 18731
MLSAreaMajor 2310
MajorChangeTimestamp July 18, 2026 at 05:56pm
MajorChangeType Price Change
MapCoordinateSource Imported
MlsStatus Active
MobileDimUnits Feet
ModificationTimestamp July 19, 2026 at 06:37am
NumberOfUnitsTotal 2
OccupantType Call Agent
OnMarketDate 2026-05-13
OnMarketTimestamp 2026-05-13T00:00:00.000-00:00
OpenHouseModificationTimestamp 2026-07-18T17:00:24.000-00:00
OriginalEntryTimestamp May 13, 2026 at 03:17pm
OriginalListPrice 8800000
OriginatingSystemID M00000151
OriginatingSystemKey 584699137
OriginatingSystemListAgentMemberKey 1212837
OriginatingSystemListOfficeKey 1254114
OriginatingSystemModificationTimestamp 2026-07-18T17:00:24.000-00:00
OriginatingSystemName BEACH
OriginatingSystemSubName BEACH_MIAMI
ParcelNumber 0131340230010
ParkingTotal 45
PatioAndPorchFeatures Balcony
Permission IDX
PhotosChangeTimestamp July 19, 2026 at 06:37am
PhotosCount 46
PoolFeatures Community
Possession Close Of Escrow, Negotiable
PostalCity Miami
PostalCode 33125
PostalCodePlus4 1251
PreviousListPrice 8800000
PriceChangeTimestamp July 18, 2026 at 05:56pm
PropertyCondition Resale
PropertySubTypeAdditional Multi Family
PublicSurveyTownship 1
Roof Built-Up, Other
SourceSystemID TRESTLE
SourceSystemKey 1159981518
SourceSystemName flexmls
SpecialLicenses City
StateOrProvince FL
StatusChangeTimestamp May 13, 2026 at 12:00am
StreetDirPrefix NW
StreetName 16th St
StreetNumber 2400
StreetNumberNumeric 2400
StreetSuffix Road
TaxAnnualAmount 70391
TaxLegalDescription KAYS EST RESUB PB 30-44 LOTS 1 THRU 3 & E10FT OF LOTS 7 & 8 F/A/U FOLIO 01 3134 85 HER-DOM CONDO
TenantPays Electricity, HVAC Maintenance, Minor Interior Maintenance
UniversalPropertyId US-12025-N-0131340230010-R-N
VideosChangeTimestamp 2026-07-19T06:37:20.100-00:00
VideosCount 0
Zoning 4600