Multifamily property outlined in yellow among Little Havana buildings and trees.

20 Unit Multifamily in Little Havana Just Listed

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.

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Cream-colored multifamily apartment building with a red tile roof and cars parked in front.
Multifamily apartment building with exterior staircases and balconies around a parking lot.
Two-story multifamily building behind a gated entrance, shaded by large trees.
Two-story beige apartment buildings with exterior stairs and balconies beside a parking lot.
Two-story apartment buildings with exterior stairways surrounding a parking area.
Two-story cream apartment building with red tile roofs, exterior staircases, and a parking area.
Living room with dark leather seating, yellow pillows, and a dining area beyond.
Kitchen with white cabinets, gray stone counters, and a sink beneath a large window.
Bedroom with floral bedding, a wall-mounted television, ceiling fan, and adjoining bathroom.
Compact bathroom with a white vanity, toilet, beige tile, and a bold patterned shower curtain.
Compact kitchen and dining area with white cabinets, a large refrigerator, and a round table with metal chairs.
Living and dining area with a white oval table and dark leather seating.
Furnished living and dining area with a round table, leather sofas, and light wood flooring.
Kitchen with white cabinets, gray stone counters, and a sink beneath a window with blinds.
Compact bathroom with a white vanity, toilet, and tropical-print shower curtain.
Bathroom with a white vanity, tiled shower, and colorful framed artwork.
Narrow multifamily kitchen with white cabinets, a small dining table, stacked chairs, and a wood-framed mirror.
Narrow white apartment kitchen with a tall stack of chairs beside the cooking area.
Compact kitchen and dining area with a white table, two chairs, and light wood floors.
Bedroom with a large bed and black metal bunk bed beside a window with blue curtains.
Compact living area with a black sofa, tiled floor, and small white-cabinet kitchenette.
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Aerial view of a multifamily complex with red tile roofs and a central parking lot.
Aerial view of a multifamily property with red tile roofs, parking, and mature trees.
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Aerial view of Little Havana, with apartment buildings, tree-lined residential blocks, and a distant skyline.
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Aerial view of Little Havana’s low-rise apartments and homes among leafy streets.
Aerial view of a multifamily property with red tile roofs, parking areas, and mature trees.
Aerial view of a multifamily property with red tile roofs, a central parking lot, and mature trees.
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Aerial view of a multifamily property outlined in yellow among Little Havana buildings.

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Contact Details

Oscar Arellano Team

Phone

(305) 525-7324

Email

[email protected]

Address

4000 Ponce de Leon Blvd, Suite 700 Coral Gables, FL 33146

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