Multifamily Property For Sale Gables Court Condominiums 6821-61 SW 44th Street , FL 33155

Executive summary Offering price $9,600,000 – Gables Court (“the Property”) is a residential condominium community comprising of 39 of 159 spacious units in the southwest section of Miami, in Miami-Dade County, FL. The Price per unit 39 units are being sold in bulk. Included are 18, 2-bed/2-bath $246,410 and 21, 3-bed/2-bath. Average unit size is 1,100 square feet. – This is a gated community consisting of six, three-story buildings built in 2005. The Property offers a host of high-end amenities Price per square foot such as swimming pool, jacuzzi, clubhouse with fitness center, $224 billiards, kids’ room, business center and meeting rooms. – Gables Court has an unparalleled location and minutes from , International University, South Capitalization rate Miami Hospital, Miami Children’s Hospital and walkable to 5.0% supermarkets, retail shops, restaurants, public parks, and employment centers. It is less than three miles from the Central Business Districts of Coral Gables, South Miami and .

Rosendo Caveiro, CPA George Vail For further Senior Vice President, Capital Markets Principal, Debt & Equity information 305 753 2830 | 305 447 7868 305 447 7869 avisonyoung.com

© 2021 Avison Young Florida. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which© 2021 we Avison deem Young reliable Florida. and, while All rights thought reserved. to be E.correct, & O.E.: is The not informationguaranteed containedby Avison Young.herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young. Gables Court Condominiums 6821-61 SW 44th Street, Miami, FL 33155

Invesment highlights

Location – Situated in a strategic location within a stable residential community between the affluent municipalities of Coral Gables and South Miami, and proximate to the major intersection of Ludlam Road (SW 67th Avenue) and (SW 40th Street), and one mile east of the Palmetto Expressway (SR 826). Excellent infill location.

Significant Sell-Out Potential – Comparable condominium units are selling at prices more than $280 per square foot. A new owner will have an attractive basis in the bulk acquisition of the 39 units which allows a strategy of selling the condos individually at retail prices. The demand for suburban condominiums and single-family homes in Miami is intense. Market value of residential communities continue to increase year-in, year-out.

Property Condition – Gables Court consists of privately owned condominiums, boasting top-quality finishes with a full spectrum of resort-style amenities. Overall, the community is in first-rate financial, physical, and structural conditions. Ownership units are well maintained, and many have been “upgraded” with new stainless-steel appliances and granite kitchen counter tops. Recently, the roofs were replaced in the six buildings.

Discount to Replacement Cost - The Property is offered at a significant discount to today’s replacement cost. Miami is sandwiched between the Atlantic Ocean to the east and to the west. Land is scarce for development of residential communities. Land prices are at all-time high, and construction costs continue to increase. This is a compelling acquisition considering the infill location and quality of the Property.

Walkability – A walk score of 78, and within walking distance to the Bird Ludlam Center, a 191,993 square foot center anchored by Winn Dixie, CVS, Pet Supermarket, Starbucks, Bank of America, restaurants, and professional offices. Also, a short distance is A. D. Doug Barnes Park, a 65-acre family-friendly park with native forest habitats, lake, jogging trails, picnic shelters, playgrounds and integrated activities serving people with disabilities.

Demographics – This area of southwest Miami has a strong and favorable demographic base. Within a three-mile radius of the Property the average household income approximates $105,000, the median home value is over $480,000. The median age is 43 years old.

Beautiful and well-maintained community in a superb infill location.

© 2021 Avison Young Florida. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young. Gables Court Condominiums 6821-61 SW 44th Street, Miami, FL 33155

Property address & city 6821-61 SW 44 Street, Miami Miami-Dade County, FL County, state, zip code 33155 Number of units for sale 39 Total rentable & average 42,891 | 1,100 unit SF Number of buildings 6 Total number of units 159 Multi-Family Zoning 22-37 Units/Acre Density 24.7 Units/Acre Building height 3 Stories Land area 6.42 Acres Year built 2005 Occupancy (Q1 2021) 96%

Mkt. Model Bed/Bath Units Unit SF Rent Model B.1 2 BR/2 BA 18 989 $1,850 Model C.1 3 BR/2 BA 9 1,185 $2,100 Model C.2 3 BR/2 BA 12 1,202 $2,150 Totals/Average 39 1,100 $2,000

Community amenities – Resort style swimming pool – Spa hot tub – Barbecue grills & picnic area – Landscape courtyards – Children’s play area – Clubhouse/clubroom – Business center & meeting room – Fitness center – Indoor racquetball court – Billiard room

Unit amenities – European cabinetry with paneled doors and granite-tiled bar – 9-foot ceilings – Split plan layouts with balconies or terraces – Electric range with self-cleaning oven – Electric microwave oven with fan – Dishwasher with pots and pans cycle – Large capacity washer and dryer – Vertical blinds – Hurricane resistant impact glass windows – Colonialist crown molding in living and dining areas – Bathrooms with marble counter-tops and tub – Internet and cable included in HOA fee – Covered carport parking (some units)

© 2021 Avison Young Florida. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young. Gables Court Condominiums 6821-61 SW 44th Street, Miami, FL 33155

Location & accessibility Major employers South Miami ...... 2.1 mi Miami Children's Hospital ...... 1.0 mi Coral Gables...... 2.9 mi University of Miami ...... 1.9 mi Downtown Dadeland...... 3.0 mi South Miami Hospital...... 2.1 mi Miami International Airport...... 4.7 mi Florida Power & Light Company...... 3.7 mi ...... 4.9 mi Baptist Hospital ...... 3.8 mi Doral ...... 5.9 mi Florida International University ...... 4.5 mi ...... 6.0 mi American Airlines Inc ...... 5.0 mi Downtown Miami /...... 7.9 mi Miami-Dade County Police HQ ...... 5.2 mi Wynnwood...... 8.0 mi Carnival Cruise Line...... 6.0 mi Hialeah...... 10.6 mi Lennar Corporation ...... 6.0 mi Miami Beach...... 11.0 mi Mall...... 6.0 mi Miami Lakes...... 12.7 mi Jackson Memorial Hospital...... 6.8 mi Homestead...... 20.8 mi Miami Dade County Public School...... 8.0 mi Fort Lauderdale...... 28.6 mi Miami General Services Administration.... 10.2 mi Key Largo...... 45.3 mi Mount Sinai Medical Center ...... 11.7 mi

Exceptionally located residential community proximate to major employers and business centers.

Rosendo Caveiro, CPA George Vail Senior Vice President, Capital Markets, Multifamily Principal, Debt & Equity 305 753 2830 | 305 447 7868 305 447 7869

© 2021 Avison Young Florida. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young.