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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
- 14-Unit Multifamily Asset in Little Havana with oversized Units with Conversion Potential
- Walkable to Calle Ocho, Dining, Parks & Cultural Attractions
- 100% Parking exemption, so no parking on site
- Eligible for City of Miami Double Density Workforce Housing Program
- Strong Demand Submarket with Ongoing Economic Growth
Executive Summary
1567 NW 1st Street presents a rare opportunity to acquire a newly delivered, fully operational 14-unit multifamily asset in the heart of Little Havana, one of Miami’s most culturally rich and economically surging neighborhoods. Coming online February 2024, this modern building is designed for operational flexibility, long-term stability, and strong income potential.
The property consists of 13 oversized studio units (440–460 SF)—each easily convertible to one-bedroom layouts—and one one-bedroom unit (550 SF), totaling 7,737 square feet. Zoned T5-L Urban Center, the asset qualifies under the City of Miami Double Density Workforce Housing Program, allowing operation as traditional apartments with a favorable AMI mix: 1 unit at 30% AMI, 2 units at 50% AMI, and 12 units at 140% AMI.
Alternatively, by paying deferred impact fees, investors may pursue motel/lodging licensure, enabling short-term rental operations—a compelling value-add option given the property’s proximity to Calle Ocho, Brickell, Downtown Miami, and the area’s thriving dining, entertainment, and cultural scene.
Situated within walking distance of iconic Little Havana destinations, residents and guests are immersed in a vibrant urban environment shaped by artists, musicians, entrepreneurs, and historic landmarks. This is a turnkey investment in a neighborhood that continues to anchor Miami’s economic and cultural growth.
The property consists of 13 oversized studio units (440–460 SF)—each easily convertible to one-bedroom layouts—and one one-bedroom unit (550 SF), totaling 7,737 square feet. Zoned T5-L Urban Center, the asset qualifies under the City of Miami Double Density Workforce Housing Program, allowing operation as traditional apartments with a favorable AMI mix: 1 unit at 30% AMI, 2 units at 50% AMI, and 12 units at 140% AMI.
Alternatively, by paying deferred impact fees, investors may pursue motel/lodging licensure, enabling short-term rental operations—a compelling value-add option given the property’s proximity to Calle Ocho, Brickell, Downtown Miami, and the area’s thriving dining, entertainment, and cultural scene.
Situated within walking distance of iconic Little Havana destinations, residents and guests are immersed in a vibrant urban environment shaped by artists, musicians, entrepreneurs, and historic landmarks. This is a turnkey investment in a neighborhood that continues to anchor Miami’s economic and cultural growth.
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
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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