343-349 Madeira Ave
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343-349 Madeira Ave
4 Unit Apartment Building $6,007,134 CAD ($1,501,783 CAD/Unit) 4.95% Cap Rate Coral Gables, FL 33134
Executive Summary
Now offered for sale by Compass Florida LLC. : Four modern, 2010 construction
townhouses in the heart of Coral Gables. Each of the four townhouses is currently
occupied at market rate rents, with well-qualified Tenants, all of which are on annual
leases. Rents have consistently held strong over the past several years, while Tenant
turnover has remained minimal.
Given the nature of the construction and simple maintenance that is occasionally
required, this property is able to be self-managed, allowing for profitability to be
maximized.
Light value-add opportunity exists with a simple kitchen/bathroom vanity
modernization. Possibility to convert to condos and sell individually.
As Coral Gables continues to draw the attention of quality residents from companies
such as Apple and FIFA, don’t miss out on this opportunity to invest in one of the hottest
cities in the US.
The following repairs have been made recently:
- The roof was replaced in February 2023.
- Two of the Four ACs replaced within the past several months.
Additional repairs include:
- Replacement of Washer/Dryer - 345( February 2024)
- Replacement of Dishwasher- 347 (June 2023), 345 (July 2024), 349 (November 2024)
- Replacement of oven- 345 (January 2024)
- New Blinds- 343, 345, 349
townhouses in the heart of Coral Gables. Each of the four townhouses is currently
occupied at market rate rents, with well-qualified Tenants, all of which are on annual
leases. Rents have consistently held strong over the past several years, while Tenant
turnover has remained minimal.
Given the nature of the construction and simple maintenance that is occasionally
required, this property is able to be self-managed, allowing for profitability to be
maximized.
Light value-add opportunity exists with a simple kitchen/bathroom vanity
modernization. Possibility to convert to condos and sell individually.
As Coral Gables continues to draw the attention of quality residents from companies
such as Apple and FIFA, don’t miss out on this opportunity to invest in one of the hottest
cities in the US.
The following repairs have been made recently:
- The roof was replaced in February 2023.
- Two of the Four ACs replaced within the past several months.
Additional repairs include:
- Replacement of Washer/Dryer - 345( February 2024)
- Replacement of Dishwasher- 347 (June 2023), 345 (July 2024), 349 (November 2024)
- Replacement of oven- 345 (January 2024)
- New Blinds- 343, 345, 349
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,007,134 CAD | Building Class | B |
| Price Per Unit | $1,501,783 CAD | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 13,636 SF |
| Cap Rate | 4.95% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2010 |
| Property Subtype | Apartment | Parking Ratio | 0.66/1,000 SF |
| Apartment Style | Low Rise |
| Price | $6,007,134 CAD |
| Price Per Unit | $1,501,783 CAD |
| Sale Type | Investment |
| Cap Rate | 4.95% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 13,636 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2010 |
| Parking Ratio | 0.66/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer
- Granite Countertops
- Stainless Steel Appliances
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 4 | - | 2,257 |
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Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 03-4108-005-0010 | Improvements Assessment | $2,525,402 CAD |
| Land Assessment | $1,946,581 CAD | Total Assessment | $4,471,984 CAD |
PROPERTY TAXES
Parcel Number
03-4108-005-0010
Land Assessment
$1,946,581 CAD
Improvements Assessment
$2,525,402 CAD
Total Assessment
$4,471,984 CAD
zoning
| Zoning Code | A-15 |
| A-15 |
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343-349 Madeira Ave
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