
Modera Skylar
1444 NW 14th Ave, Miami, FL, 33125-1686, US
263 單位
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire the South Meridian Portfolio (the “Portfolio” or “Properties”) a 25-unit multifamily investment opportunity spanning three strategic assets across Broward and Miami-Dade Counties. The Portfolio includes a 10-unit apartment complex with an upgraded adjacent duplex in Hollywood, a 7-unit property in North Miami, and a 6-unit complex in Homestead that features an additional 0.16-acre vacant lot with development potential. Each property benefits from exceptional suburban locations that provide residents with immediate access to cultural centers, dining, entertainment, and employment opportunities while maintaining the charm of residential settings.
The Portfolio currently generates steady and stable cash flow from reliable tenants, with blended in-place rents averaging $3.35 PSF across all properties. This revenue stability is primarily driven by the irreplaceable locations rather than interior specifications, as tenants consistently demonstrate willingness to pay premium rates simply for the address and surrounding neighborhood amenities. South Florida's perennial demand for housing in established, accessible communities has created a tenant base that prioritizes location over interior finishes, ensuring consistent occupancy regardless of market fluctuations. Strategic value-add initiatives position the Portfolio to unlock 20%+ NOI growth without further capital expenditure through capturing 5.74% market rent upside, monetizing already-constructed storage units and premium parking at the Hollywood location, and generating revenue from recently installed laundry facilities across all assets. The strategic positioning within the extremely sought-after submarkets of Hollywood, North Miami, and Homestead further strengthens the Portfolio's ability to command increasing rents despite modest interior specifications.
The South Florida market is experiencing remarkable growth, creating an ideal environment for multifamily investment. The region has demonstrated impressive economic indicators, including annual employment growth of 3.2%, outpacing the national average of 2.1%, and a low unemployment rate of 3.1% compared to the nationwide 3.8%. Population growth continues to surge at 1.7% annually, driven by domestic migration trends favoring South Florida. Meanwhile, the multifamily sector has thrived with average rent growth of 4.8% year-over-year and historically low vacancy rates of 3.9%. This robust market backdrop, combined with the portfolio's stable current income and mark-to-market potential, positions the South Meridian Portfolio as an exceptional investment opportunity in one of the nation's most dynamic economic regions.