SILVER COVE APARTMENTS

Adam Marcuvitz, Joseph Thomas and the Thomas Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Silver Cove Apartments, an 18-unit multifamily property built in 2021 located in Miami, Florida. 

Subject Property

Silver Cove is a four-story, concrete building featuring 18 apartments and 33,424 total square feet on a 12,883-square-foot lot (per the Miami Dade Property Appraiser). The unit mix includes 20,373 leasable square feet with (3) two-bedroom | one-bathroom apartments averaging 972 square feet, (9) two-bedroom | two-bathroom apartments averaging 1,071 square feet and (6) three-bedroom, two-bathroom apartments averaging 1,304 square feet. Each unit offers a balcony, central air conditioning, contemporary finishes and in-unit washers and dryers. The property features a flat (concrete) roof, with gated parking on the first floor totaling 29 spaces, an enclosed mailroom within the lobby and a central elevator.

Location

Silver Cove is located at 2010 SW 25th Terrace in Miami, Florida between the Coconut Grove, Coral Way and Silver Bluff neighborhoods.  The average household income within 1-mile is $127,647 and the population has grown by 9.9% since 2010, as reported by Experian.  The strategic location attracts a diverse and stable tenant base.

The Silver Cove Apartments are proximate to major employment and education centers, including Mercy Hospital (0.9 miles), Downtown Miami/Brickell (2.6 miles) and the University of Miami (3.5 miles).  The surrounding area features tree-lined streets with a mix of multifamily properties, single-family homes, upscale retail, and cultural amenities, offering residents a unique blend of charm and convenience.  The area features an array of dining, shopping, and recreational opportunities, with easy access to key transportation routes, including Dixie Highway/US-1 and Interstate-95.  The property’s central location ensures that residents are just minutes away from Miami’s vibrant urban core, major business districts, and the beautiful Biscayne Bay waterfront.

Nearby points of interest include Silver Bluff Park (0.3 miles), Grove Central (0.9 miles), Publix Super Market on 27th Avenue (1.0 miles), Vizcaya Museum & Gardens (1.6 miles) and the Shops at Merrick Park (2.5 miles). Additionally, just a short drive from the property is Loan Depot Park/Florida Marlins Stadium (2.7 miles), Publix Super Market at Mary Brickell Village (3.4 miles) and Miami International Airport (6.1 miles).  Nearby education centers include Silver Bluff Elementary School (0.6 miles), Ransom Everglades School (0.8 miles), Shenandoah Middle Magnet School (0.9 miles), Ransom Everglades High School (2.4 miles) and the University of Miami (3.5 miles).

Summary

The Silver Cove Apartments represent a rare opportunity to acquire a new construction, high-quality multifamily property in one of Miami’s premier locations.  The property’s strategic location and upside potential through rent optimization make it an exceptional investment for both core and value-add buyers.

Silver Cove is offered for sale free and clear of debt at $8,100,000.  Please contact the listing agents for more details or to schedule a property tour.