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Little Havana Duplex Portfolio

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Little Havana Duplex Portfolio 4 1 8 S W 1 0 th St 5 2 7 S W 5 th St L I T T L E I - 95 HAVANA D U P L E X PORTFOLIO S W 8 TH C A L L E O C H O CONTACT INFORMATION Midtown Realty Group 175 SW 7th Street, Suite 2112 Miami, FL 33130 INVESTMENT ADVISOR Y Alexander Saieh asaieh@midtown - r e a l t y . c o m O . 305.961.1115 Ext. 8002 M. 305.495.8945 UNDERWRITING SUPPORT J i l l L i a n g jill@midtown - capital.com O . 305.961.1115 Ext. 8013 M. 646.884.1826 Drone video, and other marketing materials can be accessed and requested from: www.midtown-realty.com/littlehavana Offering Summary INVESTMENT OVERVIEW Midtown Realty is pleased to offer for sale the 20-unit Little Havana Duplex Portfolio. The LITTLE HAVANA DUPLEX PORTFOLIO subject property consists of two 10-unit multifamily buildings built in 2009 and 2010 using Two 10-Unit Multifamily Buildings reinforced concrete block construction with the address of 527 SW 5th St, and 418 SW 10th St, Miami, FL 33130. 418 SW 10th St, 527 SW 5th St The investment opportunity consists of a unit mix of (20) one-bedroom, one and half- Miami, FL 33130 bathroom units, totaling approximately 23,166 SF. Apartment units come with full kitchens, bathrooms, washers and dryers, central A/C’s and large balconies. Common area amenities include gated access control and 20 covered parking spaces. The asset is in the heart of “Little Havana", a highly desirable rental market located west S A L E P R I C E $ 3 , 990 , 0 0 0 of downtown Miami and Brickell City Centre, the $1.05 billion mixed-use project consisting of PRICE / UNIT $ 199, 5 0 0 national brand retailers, hospitality, and restaurants. Brickell's growth over the past 2 decades has exhausted almost all development opportunities, with no option other than pushing west P R I C E / S F $ 172 into Little Havana. C A P R A T E 5 . 0 % A few blocks south is the world-famous “Calle Ocho”, which serves as the hub of tourism, NOI $198 , 632 social, cultural and festive events. West of the property is the Marlins Stadium, home of the Miami Marlins and approximately five miles west on the Dolphin Expressway is the Miami International Airport. Number of units 20 Area Employment is significant due to both properties’ proximity to Miami Health District, Building Size 2 3 , 1 6 6 S F the second largest Health District in the United States, and Brickell's’ and Downtown’s financial District. L o t S i z e 1 5 , 0 0 0 S F Little Havana Duplex Portfolio offers an investor the opportunity to purchase an income- producing property in one of the strongest rental markets in Miami-Dade County, where vacancies are virtually non-existent. Offering Summary INVESTMENT OVERVIEW LITTLE HAVANA DUPLEX PORTFOLIO Investment Highlights Two 10-Unit Multifamily Buildings • Highly sought after East Little Havana sub-Market with new zoning 418 SW 10th St, 527 SW 5th St sparking residential development in the surrounding area Miami, FL 33130 • Walking distance to Brickell CBD • 100% occupied 2009-2010 vintage apartments priced at below Building Address 418 SW 10th St 527 SW 5th St Portfolio replacement cost Year Built 2010 2009 2009 - 2010 • Featuring unique duplex layout, in-suite washers and dryers, central A/C’s, large balconies, gated access control, and 20 covered parking Building Size (sf) 11,317 11,849 23,166 spaces Lot Size (sf) 7,500 7,500 15,000 • Workforce housing as the most resilient and strongest performing asset ZoningINVESTMENT HIGHLIGHTST4-R T4-R T4-R type during recession protects investors from downcycle risks Stories 3 3 3 • Upside through bringing in-place below market rent to market and Total Number of Units 10 10 20 increasing rents through value-add renovation Average Unit Size 1,131 1,184 1,158 • Additional upside (up to $300k in Total NOI) through operating both Floor Plan 1BD/1.5BA 1BD/1.5BA 1BD/1.5BA properties as short-term rental given its superior location Asking Rent $1,325 $1,250 $1,275 Effective Rent $1,275 $1,170 $1,224 Asking Rent PSF $1.17 $1.06 $1.11 Effective Rent PSF $1.13 $0.99 $1.06 Occupancy 100% 100% 100% % of Total 50% 50% 100% M I A M I Regional Map HEALTH DISTRICT Employing 45k people 836 166,500 ADT DOWNTOWN 5 2 7 S W 5 th St 4 1 8 S W 1 0 th St BRICKELL Aerial Map BRICKELL DOWNTOWN 4 1 8 S W 1 0 th St I - 95 5 2 7 S W 5 th St S W 8 TH C A L L E O C H O Property Photos Property Photos DISCLOSURE Midtown Realty Group has been retained, as exclusive advisor and broker, for the (“Owner”) regarding the sale of its property located at 527 SW 5th St, and 418 SW 10th St, Miami, FL 33130., commonly known as “Little Havana Duplex Portfolio” (the “Property”). This Investment Offering has been prepared by Midtown Realty Group for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by Midtown Realty Group and designated sources and are based upon assumptions relating to the general economy, competition and other factors beyond the control of the Owner and therefore are subject to variation. No representation is made by Midtown Realty Group or the Owner as to accuracy or completeness of the information contained herein and nothing contained herein shall be relied on as a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, the Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Midtown Realty Group, the Owner and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Investment Offering. This does not constitute a representation that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the Investment Offering. Analysis and verification of the information contained in the Investment Offering are solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors. MIDTOWN REALTY GROUP IS ACTING AS AN AGENT OF THE OWNER, IS REPRESENTING THE OWNER AND WILL BE COMPENSATED BY THE OWNER IN THE EVENT OF A TRANSACTION. The Owner and Midtown Realty Group each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with an entity at any time with or without notice. The Owner shall have no legal commitment or obligations to any entity reviewing the Investment Offering or making an offer to purchase the Property unless and until such offer is approved by the Owner, a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner and its legal counsel and any conditions to the Owner’s obligations thereunder have been satisfied or waived. This Investment Offering and the contents, except such information, which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Investment Offering, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose Investment Offering or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of the Owner or Midtown Realty Group and that you will not use the Investment Offering or any of the contents in any fashion or manner detrimental to the interests of the Owner or Midtown Realty Group. CONTACT INFORMATION Midtown Realty Group 175 SW 7th Street, Suite 2112 Miami, FL 33130 INVESTMENT ADVISOR Y Alexander Saieh asaieh@midtown - r e a l t y . c o m O . 305.961.1115 Ext. 8002 M. 305.495.8945 UNDERWRITING SUPPORT J i l l L i a n g jill@midtown - capital.com O . 305.961.1115 Ext. 8013 M. 646.884.1826 Drone video, and other marketing materials can be accessed and requested from: www.midtown-realty.com/littlehavana.
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