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193 58th St, Miami, FL 33127
Offering:
For Sale
Location:
Miami, FL 33127
Status:
Active
$3,000,000
Deemed reliable but not guaranteed.
Details
Year built:
1926
Lot size:
6,500 sq ft
Days on market:
147
Type:
Multi-family
MLS ID
A12011306
Virtual tour:
Listed by:
Fausto Commercial Realty Consultants Inc (FAUS01)
Listing office phone:
786-862-8247
Listing office email:
Listing agent:
Vicente Rodriguez (3289280)
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.
Price history
$3,000,000 → $3,000,000
· 1 price changes
Location
193 NW 58th StMiami, FL 33127
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MLS information
Last updated Sep 10, 2026
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
