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$ 18,750,000
Est. payment | /mo
42,452 SqFt
$ 18,750,000
Est. payment | /mo
42,452 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 42,452 sqft
Price per Sqft $441
MLS Listing ID A12089534
HOA Y/N No
Year Built 1960
Lot Size 2.215 Acres
Property Sub-Type Multi Family
Property Description
5601 NW 1st Avenue presents a rare opportunity to acquire a 91-unit multifamily apartment community in one of Miami's most rapidly evolving urban corridors. The property consists of a mix of studio, one-bedroom, and two-bedroom apartments situated on a substantial 106,187-square-foot site with T4-R zoning.
The asset encompasses approximately 50,100 adjusted square feet across ten separate two-story residential buildings constructed between 1947 and 1969. The unit interiors feature a combination of central air conditioning systems, providing a diverse housing product that caters to strong workforce and market-rate rental demand.
Strategically located near Little Haiti, Wynwood, the Miami Design District, Midtown Miami, and Downtown Miami, the property benefits from exceptional access to major employment centers, public transportation, shopping, dining, and entertainment destinations. The surrounding area continues to experience significant public and private investment, driving long-term growth and increasing demand for quality rental housing.
This offering presents investors with a compelling value-add opportunity through operational improvements, rental rate growth, and asset repositioning. Additionally, the property's sizeable land area and favorable zoning provide significant long-term redevelopment potential, making it an attractive acquisition for both cash-flow-focused investors and future developers seeking scale in a supply-constrained Miami market.
The asset encompasses approximately 50,100 adjusted square feet across ten separate two-story residential buildings constructed between 1947 and 1969. The unit interiors feature a combination of central air conditioning systems, providing a diverse housing product that caters to strong workforce and market-rate rental demand.
Strategically located near Little Haiti, Wynwood, the Miami Design District, Midtown Miami, and Downtown Miami, the property benefits from exceptional access to major employment centers, public transportation, shopping, dining, and entertainment destinations. The surrounding area continues to experience significant public and private investment, driving long-term growth and increasing demand for quality rental housing.
This offering presents investors with a compelling value-add opportunity through operational improvements, rental rate growth, and asset repositioning. Additionally, the property's sizeable land area and favorable zoning provide significant long-term redevelopment potential, making it an attractive acquisition for both cash-flow-focused investors and future developers seeking scale in a supply-constrained Miami market.
Location
State FL
County Miami-dade
Area 31
Zoning 3900
Exterior
Private Pool Yes
Building
Story 3
Water Public
Others
Tax ID 01-31-13-080-0010
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12089534
Listed by Eleventrust LLC
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