103 Unit Opa-Locka FL

Exciting Investment Opportunity: Miami Central Multi-Family Portfolio – 103 Units Available for $18.5M

A prime investment chance awaits in the heart of Miami with a 103-unit multifamily portfolio spread across 11 buildings, mostly featuring 2-bedroom units. Located in the fast-developing Opa-Locka area, this portfolio is perfectly positioned to benefit from the region’s ongoing growth and proximity to key locations.

Highlights:

• Excellent Location: Centrally located near major economic and civic hubs, including the Opa-Locka Airport, Miami-Dade College, and the new Amazon Logistics Mega-Hub.

• Upgrades in Place: Around 70% of the units have been significantly improved with features like central AC, impact windows, and up-to-date 40-year building certifications.

• Stable Revenue: Fully approved for HUD housing and Section 8, offering steady, government-backed rental income. Section 8 rents have increased by up to 19% since 2023, ensuring strong cash flow.

• Solid Returns: Recent local sales show one-bedroom units selling for up to $180K. With the majority of this portfolio consisting of two-bedroom units, the earning potential is even higher.

• Rapid Growth: The area is experiencing robust development, including the addition of a major Amazon warehouse and ongoing gentrification from nearby neighborhoods.

• Convenient Access: Close proximity to I-95 and Hialeah, making the location appealing to potential tenants.

Priced attractively at a 9% proforma cap rate, this portfolio represents a unique value-add opportunity. Seller financing is not available. This is your chance to invest in a rapidly expanding market.

The buildings are well-maintained, with no deferred maintenance and all certifications current. Approximately 70% of the units have undergone full renovations, including new central air conditioning and updated windows. Out of the 11 buildings, only 3 roofs are pending updates, with repairs already in queue. The portfolio’s adherence to government housing standards ensures that the properties remain in excellent condition.

Currently, 25 units are occupied by tenants through HUD or other government programs, with the potential to expand to 100% government-rented units for more predictable, low-management income. By 2024, two-bedroom units will qualify for rents as high as $2,324, ensuring strong cash flow. At projected rents, the portfolio is set to generate $2,410,800 in total revenue and $1,825,094 in net operating income (NOI), with potential 2024 guarantees bringing NOI closer to $2M—offering an 11% cap rate at the asking price.

Opa-Locka is undergoing a transformation, with Miami’s growing population driving a surge in demand for affordable housing close to major job centers and lifestyle amenities. The area is attracting higher-income tenants, ensuring long-term rent growth and investment returns.

This portfolio offers an incredible opportunity to tap into Miami’s evolving urban landscape and secure an asset poised for ongoing appreciation and rental demand. Don’t miss out on this exclusive chance to invest in one of the hottest markets in the city.