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URBAN MIAMI 1567 Building 1567 NW 1st St 14 Unit Apartment Building $4,500,000 ($321,429/Unit) Miami, FL 33125
INVESTMENT HIGHLIGHTS
- Motel/lodging use operators can get licensure to operate this for short-term
- 100% Parking exemption, so no parking on site
EXECUTIVE SUMMARY
Coming live and fully operational this February 2024 is this amazing 14 unit multifamily building in Little Havana. This site can be operated in a traditional sense under City of Miami double density workforce program as apartments; 1 units 30% AMI, 2 units at 50% AMI, and 12 units at 140% AMI (average median income). 13 Units are oversized Studios (easily converted to 1 bedrooms, 440-460 SF), and 1 one bedroom (550 SF). Alternative, by paying deferred impact fees, motel/lodging use operators can get licensure to operate this for short-term rental. With close proximity to Calle Ocho and Brickell fine dining, chic shops, sidewalk cafes and picturesque parks, are a brisk walk away for residents who will be immersed in the vibrant culture of the area. The area's several iconic spots include the Calle Echo, home to the Ball & Chain, and Downtown Miami. Since its inception in the late 1800's, Little Havana has been home to tycoons, adventurers, artists, writers and musicians alike with an A-list roster of residents. Come invest in the prosperous neighborhood that is surging in economic heart of the city.
PROPERTY FACTS
| Price | $4,500,000 | Building Class | B |
| Price Per Unit | $321,429 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 7,737 SF |
| No. Units | 14 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2024 |
| Apartment Style | Low-Rise | Parking Ratio | 1.81/1,000 SF |
| Zoning | T5-L - Mixed-Use Commercial | ||
| Price | $4,500,000 |
| Price Per Unit | $321,429 |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 7,737 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 2024 |
| Parking Ratio | 1.81/1,000 SF |
| Zoning | T5-L - Mixed-Use Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
1 1
Walk Score®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 01-4102-005-8790 | Improvements Assessment | $0 |
| Land Assessment | $500,000 | Total Assessment | $500,000 |
PROPERTY TAXES
Parcel Number
01-4102-005-8790
Land Assessment
$500,000
Improvements Assessment
$0
Total Assessment
$500,000
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URBAN MIAMI 1567 Building | 1567 NW 1st St
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