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Listed price in listed location currency (USD).
$3,000,000

000

MLS® A12011306

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes 
Days Active 0
Lot Size 
Approx. Age 1926
MLS® Number A12011306

Property Address: 193 Nw 58th St, Miami, FL, 33127-1657

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® NumberA12011306
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1926
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 1, 2026List Date
$3,000,000List Price
  • Commute

Commute

Starting Address
Destination Address
193 Nw 58Th St, Miami, FL

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