114 Menores Avenue, Coral Gables, FL 33134

Property Description

Fausto Commercial is pleased to presentan exclusive opportunity to acquire 114Menores Ave, a renovated, income-producing 8-unit multifamily building inCoral Gables' Douglas Section. The asset is100% occupied, fully stabilized, and offersdurable in-place cash flow with additionalupside through mark-to-market rentssupported by nearby comparableproperties.Built in 1925 and renovated in 2020, the buildingcomprises eight highly attractive and sought-after one-bedroom units averagingapproximately 717 square feet. Improvementsinclude new PVC/CPVC plumbing on a directcity connection, in-unit washers and dryers stillunder warranty, motion-sensor LED common-area lighting, and secured building entry. Theproperty passed its 40-year recertification onJune 10, 2025, valid through 2035 — acompleted capital event and diligence hurdlethat most Coral Gables buildings of this vintagestill face. The current rent roll generates$193,886 gross annually against $74,224 inoperating expenses, a 38.3% expense ratio, for$119,662 in trailing net operating income. In-place rents average $1,996 per unit againstsubmarket asking rents of $2,250–$2,300, withseven of eight leases rolling by August 2027.Location is one block off Douglas Road in one ofCoral Gables' most walkable residentialneighborhoods — 0.3 miles to Publix, 0.7 milesto Miracle Mile.Fully recertified through 2035 and 100%occupied, with staggered leases running toAugust 2027