193 NW 58th St, Miami FL 33127

Description of 193 NW 58th St, Miami FL 33127

15-UNIT VALUE-ADD EXTENDED-STAY OPPORTUNITY Fausto Commercial Realty is pleased to present 193 NW 58th Street, a 15-unit multifamily asset in Miami’s improving Little River / Model City corridor, just east of NW 2nd Avenue. Built in 1926 on a 6,500 SF lot, the two-story property is legally operating as 15 units and currently runs as a high-occupancy extended-stay / hostel-style operation. The asset is renovated, well- maintained, and benefits from strong demand due to proximity to Wynwood, Midtown, the Design District, and Miami International Airport. As-is, the property collects approximately $20,600/month ($247,200/year) with estimated expenses of ~30%, producing an in-place NOI of $173,040. At the $3,250,000 asking price, the offering reflects a 5.32% cap rate with stable cash flow. Value-add upside includes adding 12 bathrooms (one per unit) for an estimated $180,000 to convert the asset into 15 self-contained Airbnb units. Under conservative assumptions ($135 ADR, 65% occupancy, 40% expenses), projected NOI is approximately $288,000, equating to an ~8.4% pro-forma cap rate on total cost—driven by operational improvement rather than speculative rent growth.

Property Details for 193 NW 58th St, Miami FL 33127

Pool Private

No

Building Information for 193 NW 58th St, Miami FL 33127

Building Area Total

3205

Building Area Units

Square Feet

Association

No

Property Information for 193 NW 58th St, Miami FL 33127

Lot Size Square Feet

6,500

Waterfront

No

View

No

New Construction

No

Public Records for 193 NW 58th St, Miami FL 33127

Parcel Number

01-31-13-063-0570

Tax Legal Description

HIGH SCHOOL PARK TR PB 4-44 LOT 9 BLK 4 LOT SIZE 50.000 X 130 OR 20380-1745 04 2002 1 COC 25324-0130 11 2006 1

Zoning

5700

County Or Parish

Miami-Dade County

Location