West Flagler Street
List Price: $9,000,000
Lot Size: 1.03 Acres
Rentable Sq SF: 22,267
Cap Rate: 4.42%
Year Built: 1951-1969
West Daniel Portfolio, which is comprised of 45 units in four separate buildings located in the city of Miami, Florida. The buildings are in great condition and most of the units are rented to voucher tenants from different programs including Section 8 and Citrus Housing.
West Daniel Portfolio has one one-story building and three two-story buildings. The unit mix is comprised of 41 one-bedroom / one-bathroom units and four two-bedroom / one-bathroom units. The property offers off-street parking, central and individual wall air-conditioning units. The residents are within walking distance from public transportation, commercial activity on West Flagler Street and Publix Supermarket on Douglas Road (37th Avenue). In addition, it provides convenient access to major thoroughfares such as Dolphin Expressway and Interstate-95.
West Daniel Portfolio is located within the highly sought-after Little Havana neighborhood. This rental market has become one the fastest growing neighborhoods in Miami-Dade County. There are over 510,000 residents within a five-mile radius of the property. Little Havana is centrally located with the Jackson Memorial Hospital and The Hospital District to the north, PortMiami, Brickell and downtown Miami to the east, Coral Gables and Coconut Grove to the south and the Miami International Airport to the west. The proximity to major employers in South Florida, convenient access to major thoroughfares and public transportation are a few of the reasons Little Havana has become one of the most desirable locations to live. Due to the demand for rental units, there has been an upward pressure in rental rates which has made the supply for rental units scarce. Over the last five years, there have been several new commercial and residential developments in the neighborhood, which enhances the quality of life for residents and visitors of Little Havana.
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