Why Little Havana

Little Havana is one of Miami’s most active multifamily submarkets, known for its workforce housing, cultural identity, and investor turnover. With proximity to Downtown, Brickell, and the Health District, Little Havana offers both stable cash flow and redevelopment potential.

The neighborhood’s mix of older 1950s–1970s garden-style apartments and small multifamily buildings attracts investors seeking value-add opportunities and strong rental demand from Miami’s working-class population.

Market Snapshot (Q2 2025)

• Rents: Typical 1BR rents in Little Havana average $1,800–$2,200/month, well below Brickell or Edgewater, ensuring consistent demand.

• Cap Rates: Higher than Miami’s luxury markets, averaging 5–6% compared to ~4% in Brickell.

• Vacancy: Extremely tight, often <3%, reflecting strong demand for affordable housing.

• Investment Angle: Heavy investor activity, with frequent small-to-mid-size multifamily transactions under $10M.

• Trends: Infill redevelopment (assemblages for mid-rise apartments), adaptive reuse, and new small-scale multifamily projects

Types of Multifamily in Little Havana

• Small buildings (5–20 units): workforce rentals, heavy investor churn.

• Garden-style (20–100 units): value-add, stable returns.

• Assemblages: land + older apartments combined for redevelopment.

• New construction: boutique mid-rises targeting higher-income renters.

Location Advantages

• Proximity to Downtown & Brickell: affordable housing within minutes of Miami’s core.

• Cultural identity: iconic neighborhood with consistent population base.

• Investor activity: constant deal flow for small-to-mid multifamily.

• Redevelopment corridor: Flagler Street and Calle Ocho see new zoning + infill potential.

For Investors

• Access to off-market small/mid-size buildings.

• Advisory on value-add renovations and rent comps.

• Connections for 1031 exchanges targeting Little Havana assets.

• Market insight into redevelopment assemblages.

For Owners

• Property valuations and exit strategy advisory.

• Buyer database of private investors and syndicators.

• Guidance on renovation ROI vs. disposition.

• Positioning assets for maximum NOI and cap rate compression.

Key Corridors in Little Havana

• Calle Ocho (SW 8th Street): cultural heart + redevelopment corridor.

• Flagler Street: emerging corridor with new zoning, infill projects.

• Riverside area: proximity to Brickell = assemblage activity.

• West Flagler: strong garden-style multifamily stock.

Listings & Tours

VIVA provides access to on-market and off-market multifamily opportunities in Little Havana — from small 10-unit buildings to redevelopment sites.

• Search Multifamily Listings

• Ask for Off-Market Deals

FAQs

Q1: What are typical cap rates in Little Havana?

A: Around 5–6%, higher than Brickell or Edgewater, making it attractive for cash flow investors.

Q2: Why is Little Havana so active for multifamily?

A: Affordable rents, strong workforce demand, and constant investor churn.

Q3: What property sizes are most common?

A: Small-to-mid multifamily (5–100 units), with heavy activity in 10–40 unit deals.

Q4: What’s the redevelopment outlook?

A: Assemblages along Flagler and Calle Ocho offer strong redevelopment potential for mid-rise apartments.