20-Unit Multifamily Investment Opportunity in Little Havana
1362 SW 2 Street, Miami FL
OFFERED AT $3,990,000
Presented by the Oscar Arellano Team, 1362 SW 2 Street is a stabilized 20-unit multifamily property located in the heart of Little Havana, one of Miami’s most resilient and supply-constrained rental submarkets .
Executive Summary
Built in 1914 and situated on an 11,250 SF lot, this two-story multifamily asset generates strong in-place income with a current cap rate of approximately 5.94% at the asking price.
The property delivers dependable cash flow, full occupancy, and long-term urban infill positioning just minutes from Brickell and Downtown Miami.
Financial Overview
Gross Annual Income: $356,580
Operating Expenses: $119,678.89
Net Operating Income (NOI): $236,901.11
Cap Rate (At Asking): 5.94%
Lot Size: 11,250 SF
This expense ratio demonstrates disciplined management and efficient operations, supporting durable net income.
Unit Mix & Income Breakdown
Per the Actual Income Statement:
Total Monthly Rental Income: $29,715
Total Annual Rental Income: $356,580
The property consists of 20 residential units with a diversified mix of 1-bedroom and 2-bedroom apartments, serving workforce and commuter housing demand.
Annual expenses include:
Real Estate Taxes: $47,494
Insurance: $30,309
Utilities (FPL, Water & Sewer, Gas): $17,850+ combined
Repairs & Maintenance, Waste, Landscaping, Pest Control, Fire & Safety
Total Operating Expenses: $119,678.89
Structural & Compliance Highlights
One of the most important components for Miami multifamily investors:
Completed 40-Year Recertification
Structural and electrical inspections performed by licensed engineer
Certification of parking lot illumination compliance
These items significantly reduce deferred maintenance risk and provide peace of mind to lenders and investors.
Location Advantage – Little Havana
Strategically positioned just west of Brickell, Little Havana continues to experience:
Strong rental demand
Urban redevelopment
Limited new supply
Proximity to major employment hubs
The aerial overview highlights the property’s close connectivity to Downtown Miami, Coral Gables, and key commuter corridors .
This is true urban infill multifamily — walkable, central, and consistently occupied.
Investment Highlights
✔ 20 stabilized units
✔ 100% income-producing asset
✔ 5.94% cap rate at asking
✔ Strong historical occupancy
✔ Completed structural recertification
✔ Prime Little Havana location
✔ Urban infill positioning minutes from Brickell
At $3,990,000, the asset trades at approximately $199,500 per unit, offering investors scale, stability, and long-term appreciation potential in one of Miami’s most dependable rental corridors .
For access to the full Offering Memorandum, rent roll, and underwriting model, contact the Oscar Arellano Team.
