No photos available
Offered at
$3,000,000
193 NW 58th Street, Miami, FL 33127
- 0
- Beds
- 0
- Full Baths
- 3,205
- Sq.Ft.
Listing courtesy of Vicente Javier Rodriguez, Fausto Commercial Realty Consultants Inc
Property Description
15-UNIT VALUE-ADD EXTENDED-STAYOPPORTUNITYFausto Commercial Realty is pleased to present193 NW 58th Street, a 15-unit multifamily asset inMiami’s improving Little River / Model Citycorridor, just east of NW 2nd Avenue. Built in1926 on a 6,500 SF lot, the two-story property islegally operating as 15 units and currently runsas a high-occupancy extended-stay / hostel-styleoperation. The asset is renovated, well-maintained, and benefits from strong demanddue to proximity to Wynwood, Midtown, theDesign District, and Miami International Airport.As-is, the property collects approximately$20,600/month ($247,200/year) with estimatedexpenses of ~30%, producing an in-place NOI of$173,040. At the $3,250,000 asking price, theoffering reflects a 5.32% cap rate with stablecash flow.Value-add upside includes adding 12 bathrooms(one per unit) for an estimated $180,000 toconvert the asset into 15 self-contained Airbnbunits. Under conservative assumptions ($135ADR, 65% occupancy, 40% expenses), projectedNOI is approximately $288,000, equating to an~8.4% pro-forma cap rate on total cost—drivenby operational improvement rather thanspeculative rent growth.
Overview
At a glance
- Property Type
- Commercial Sale
- Property Sub-Type
- Multi Family
- Address
- 193 NW 58th Street, Miami, FL 33127
- Zoning
- 5700
- MLS ID
- A12011306
- Listing Date
- 2026-04-15
- Last Updated
- 5/2/2026, 1:06:46 AM
- Days on Market
- 78
Features & Amenities
The Details
Details
- Building Area
- 3,205 sq.ft.
- Lot Size
- 6,500 sq.ft.
- Lot Size (Acres)
- 0.15 acres
- Year Built
- 1926
- County
- Miami-Dade
- Zoning
- 5700
Financial
- List Price
- $3,000,000
- Original List Price
- $3,000,000
Location
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Learn More →Information & Accuracy
All information provided on this page is deemed reliable but is not guaranteed. Square footage, lot size, room dimensions, year built, taxes, and HOA figures are sourced from the MLS, the seller, or public records, and Aquantis Realty makes no representation or warranty as to their accuracy. All measurements and material facts should be independently verified by the buyer.