Newly constructed 10-unit multifamily asset in the rapidly growing East Little Havana submarket of Miami.
The building features a well-balanced unit mix of FOUR studio apartments and SIX two-bedroom residences, designed to appeal to a wide range of tenants, including young professionals, medical employees, and small families. Each unit includes modern kitchens, stainless steel appliances, porcelain tile flooring, central air conditioning, and an in-unit washer and dryer, providing a contemporary living experience that supports strong tenant demand.
Based on current market rents, the property has the potential to generate approximately $22,000 in gross monthly income, or $264,000 annually, representing an estimated capitalization rate of approximately 6 percent.
1037 NW 2nd St, Miami, FL, 33128
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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