5475 NE 1st Ave 5 Unit Apartment Building Offered at $1,349,000 at a 4.74% Cap Rate Miami, FL 33137

Exceptional value-add opportunity in the rapidly appreciating Little Haiti (33137) submarket. This fully occupied 5-unit (3×1BR / 2×2BR)multifamily property generates approximately $100,000 in current gross income with stable, government-backed Section 8 tenancy and a proven history of near-zero vacancy. Rents are significantly below current Miami-Dade Fair Market levels, offering the potential for substantial income growth (estimated 40%–70%+ upside) through unit renovations and repositioning. Recent capital improvements, including a new roof and exterior paint, minimize near-term capex. Located just minutes from Wynwood, the Design District, and major redevelopment corridors, this asset offers investors a rare combination of in-place cash flow, meaningful rental upside, and long-term appreciation potential in one of Miami’s most dynamic neighborhoods.