2825 SW 3RD AVE

The Porosoff Group at Compass Commercial is pleased to present the exclusive offering of 2825 SW 3rd Avenue, Miami, FL 33129 — known as “Villas of Brickell Estates” — a rare opportunity to acquire a fully stabilized 6-unit multifamily property in one of Miami’s most coveted neighborhoods, directly on Coral Way (SW 3rd Avenue) at the intersection of Brickell, Coconut Grove, and Coral Gables. The property is offered at a listing price of $2,300,000.
The property consists of a 2,280 SF building situated on a 6,250 SF lot in the Brickell Estates subdivision. Originally built in 1951 with improvements added in 1990, the property features six studio/1-bath units, all currently occupied with strong rental demand driven by the prime location. The municipal zoning is T6-8-O and the PA zone is 6100 (Commercial-Neighborhood), offering potential for future redevelopment under Miami 21 code.
The property is 100% occupied by six tenants generating $9,725 per month in gross rental income. The unit mix consists entirely of studio/1-bath apartments averaging $1,621/month, which remains competitive for the Brickell/Coral Way corridor. Recent lease-ups in mid-2025 at $1,625-$1,700/month confirm strong market demand and upward rent trajectory.
Per the actual operating P&L (January through October 2025), total income was $90,464 against total operating expenses of $28,919 (excluding debt service). Key expense categories include repairs and maintenance ($9,211 annualized), utilities ($3,198 annualized), and waste management ($2,040 annualized). Real estate taxes ($28,207) and property insurance (~$10,500 est.) are paid directly by the owner outside the management P&L. Underwriting assumes 4% management fees
and $960 in normalized annual leasing costs, yielding a current NOI of approximately $53,714 based on the in-place rent roll.
At the listing price of $2,300,000, a buyer’s post-sale property tax will reset to approximately $34,500 (75% of 2% of the purchase price). With pro forma rents of $1,800/month per unit, the stabilized pro forma NOI is approximately $59,434. The location benefits from its exceptional position on Coral Way with immediate access to US-1, Metrorail, and the dense employment, dining, and entertainment offerings of the Brickell financial district.
The 2025 market value per the Miami-Dade Property Appraiser is $1,727,326 with a land value of $1,593,750, reflecting the extraordinary underlying land value. The T6-8-O zoning designation supports future redevelopment optionality, making this a compelling opportunity for an investor seeking a stabilized, income-producing multifamily asset in a prime Miami location with significant long-term upside.