Hurricane Flats
Closed6647 SW 59th Pl, South Miami, FL 33143-3511
Property type
Multifamily
Unit / Space count
15
Price
$3,340,000
Building size
7,085 sf
Rentable area
7,085 SF
Year built
1950
Year renovated
Occupancy
Zoning code
Lot size
0.26 Acres
Sold/status
Sold · Date unknown
Sale price
$3340000
Unit mix
2x
1br
3x
2br
Bedroom count
CAP
5.61%
Property description
Hurricane Flats presents a rare investment opportunity in the highly desirable South Miami market. This 7,085-square-foot multifamily property features 15 well-maintained units housed within a charming, mid-century building originally constructed in 1950. The property’s design embodies the classic low-rise, garden-style aesthetic, offering residents a comfortable and efficient living environment that continues to attract steady demand year after year. Currently operating at 100% occupancy, Hurricane Flats provides investors with an immediate and stable income stream. The unit mix and layout maximize rentable area while maintaining a balanced operational scale ideal for hands-on or portfolio investors alike. The property has been consistently maintained, allowing for seamless management and minimal downtime between tenancies, underscoring its strong performance history and long-term reliability as an income-producing asset. Situated on a parcel zoned RS-4 Single Family Residential, the property offers flexible investment potential—whether held for stable multifamily cash flow, future redevelopment, or as part of a long-term land banking strategy. Its size, stability, and enduring tenant demand make Hurricane Flats a unique opportunity to acquire a high-performing asset in one of Miami-Dade’s most consistently sought-after residential submarkets.
Property highlights
- Extremely Rare Opportunity To Acquire An Impeccably Maintained, 15-Unit Multifamily Asset In The Heart Of South Miami
- Property Features Strong In-Place Cash Flow With The Ability To Further Increase Rents By Almost 17% With Minimal Capital Expenditures Needed
- Property Features Modern And Sleek Units With Luxury Vinyl Flooring, Open Layouts, Stainless Steel Appliances, Premium Kitchen Cabinetry And Countertops, Etc.
- Amenities Include Mini-Split Air Conditioners, Common Laundry Facility, Designated Parking Lot & Ample Street Parking Available, And Security Fence
- Strong Demographics In Neighborhood With High Average Household Income And Home Values
- Robust Rental Demand Due To Large Student Population And Proximity To The University Of Miami
- Prime South Miami Location Within Walking Distance To The University Of Miami Campus And The Metro Rail, Providing Easy Access To Coral Gables, Coconut Grove, Downtown Miami, And More
- Located Just Off Bird Rd And US-1 Providing Easy Access To Anywhere In Miami-Dade And Abroad Via The Palmetto Expressway (SR-826) And I-95