4332 W Flagler St + 4331 SW 1st St
Miami, FL 33134

The Offering

Newer multifamily, plus a home, on West Flagler

This is a two-property package on the West Flagler corridor, sold together as a single deal. The first is a 2017-built ten-unit apartment building at 4332 W Flagler St. The second is the fully renovated three-bedroom, two-bath home directly behind it at 4331 SW 1st St, on its own lot. Newer multifamily rarely comes up at this size here, and together the two give a buyer newer construction, income in place, and room to grow.

The building was put up in 2017 to a standard you rarely see in a rental this size. The ten apartments are a mix of five 2/2's, four 2/1's, and one studio. It is concrete block throughout, including the walls between units, so each apartment has the quiet and fire separation of a condominium. Inside, the look is clean and modern industrial, with polished concrete floors, high ceilings, and floor-to-ceiling impact glass that fills every home with light and opens to a private balcony. Each unit is individually metered for water and electricity and has its own full-size washer and dryer, and the building adds an elevator, a wet fire-sprinkler system, and a covered, secured garage with fifteen spaces. Because the units are separated by concrete walls and metered on their own, a future condominium conversion stays on the table.

The renovated home at 4331 SW 1st St is a three-bedroom, two-bath of about 1,284 square feet, taken back to the studs in 2021. Its rear yard was reworked to add six more parking spaces in a gated alley, leased to building tenants and reached through a lighted, keyed entrance. It can stay rented or be resold on its own later.

Buying the land and building something like this on the corridor today would cost more than the asking price, so a buyer steps in below replacement cost. In-place rents already cover the apartments, the home, and the parking, and they sit below market, with a clear path to raise them as leases renew. The durable finishes keep upkeep low, and because residents cover their own utilities, the building is inexpensive to run. It all sits minutes from Coral Gables, Miami International Airport, the Health District, and Downtown, on one of Miami's main east-west streets.

The full offering memorandum, with the unit mix, rent roll, and operating detail, is available to verified buyers and brokers below. Please do not disturb tenants.