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Casa Linda - Shenendoah 4-Unit 1786 SW 9th St

4 Unit Apartment Building $3,160,530 CAD ($790,133 CAD/Unit) 6.31% Cap Rate Miami, FL 33135

Investment Highlights

  • Full Gut Renovation Completed in 2023
  • Fully Stabilized with Low Landlord Expenses
  • New Joists, new framing, new subfloors, new tie-columns and tie-beams
  • 40/50 year Certification Obtained 2023
  • Four 3bed/2bath Units with First Floor Units Having Private Outdoor Space

Executive Summary

Price Reduced!! ONE Commercial Real Estate is pleased to present Casa Linda, four newly renovated 3bedroom 2bath luxury apartments located in the heart of Shenandoah, Miami and adjacent to Little Havana. Full gut renovation and 40/50-year Certification completed in 2023 this exceptional renovation exudes refinement within all interior and exterior finishes. No expense was spared in aiming to achieve the highest level of build, not limited to all new windows, doors, individual HVAC systems, plumbing, electric, structural & roofing components. Also, gut-renovation included all new joists, new framing, new subfloors, new tie-columns and tie-beams. Each apartment features new flooring, drywall, fully remodeled kitchens & baths, stainless steel appliances, smart home tech, and in-unit stackable washer and dryer. The backyard(s) and common areas have been resurfaced, providing a fresh and clean environment for residents to enjoy with private backyard patios for the first-floor units. Additionally, the building is being delivered with Tenants, providing new ownership immediate returns from annual leasing operations.
The Shenandoah & Little Havana neighborhoods have seen tremendous growth with their mix of cultural vibrance and favorable location within Miami. A rich tapestry of music, art, cuisine and entertainment has facilitated steady business and residential growth year after year for decades. Their accessibility to Downtown, Brickell, and major highways continue to support residential demand & tourism. For these reasons, Casa Linda positions itself to meet this growing demand for luxury product within the submarket by delivering a competitive product capable of outperforming comparable options within the segment.

Financial Summary (Actual - 2023)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $248,089 $42.05
Other Income - -
Vacancy Loss - -
Effective Gross Income $248,089 $42.05
Taxes $22,927 $3.89
Operating Expenses $19,549 $3.31
Total Expenses $42,476 $7.20
Net Operating Income $205,613 $34.85

Financial Summary (Actual - 2023)

Gross Rental Income (CAD)
Annual $248,089
Annual Per SF $42.05
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $248,089
Annual Per SF $42.05
Taxes (CAD)
Annual $22,927
Annual Per SF $3.89
Operating Expenses (CAD)
Annual $19,549
Annual Per SF $3.31
Total Expenses (CAD)
Annual $42,476
Annual Per SF $7.20
Net Operating Income (CAD)
Annual $205,613
Annual Per SF $34.85

Property Facts

Price $3,160,530 CAD
Price Per Unit $790,133 CAD
Sale Type Investment
Cap Rate 6.31%
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.14 AC
Building Size 5,900 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1920/2023
Parking Ratio 0.68/1,000 SF

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Washer/Dryer
  • Double Pane Windows

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+2 4 $5,197 CAD 1,000 - 1,050
Walk Score ®
Walker's Paradise (93)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
01-4110-063-2520
Land Assessment
$0 CAD (2024)
Improvements Assessment
$0 CAD (2024)
Total Assessment
$1,272,859 CAD (2024)
Annual Taxes
$22,927 CAD ($3.89 CAD/SF)
Tax Year
2023

zoning

Zoning Code 5700 (Residential)
5700 (Residential)
  • Listing ID: 31752399

  • Date on Market: 2024-05-09

  • Last Updated:

  • Address: 1786 SW 9th St, Miami, FL 33135

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