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650 SW 1st St
Miami, FL 33130
Multifamily Property For Sale
·
21 Units
Executive Summary
Newly delivered, 22-unit boutique multifamily building located in Miami’s West Brickell corridor, minutes from the Brickell Financial District, in one of the nation’s most supply-constrained and fastest-growing rental markets.
• The Asset totals 22-income-producing units across 9,398 SF of NRA - comprised of 21 residential units spanning 8,948 SF,
and 1 ground-floor retail suite spanning 450 SF .
• Since delivery in February 2026, The Asset has demonstrated strong lease-up capability - reaching 100% occupancy for the
residential component in less than 3 months of opening, in one of South Florida’s most competitive rental markets.
• Across expense reimbursements, current in-place and asking rents comprising both residential and commercial components, the
Asset supports a blended annualized PGI of approximately $567K.
SIX50 represents the only boutique, luxury, low-rise multifamily product of its kind within the immediate market segment - while
nearby large-scale developments such as The Vibe and Flow Brickell benefit from the same institutional-quality demographics, they
target a distinctly different renter profile, positioning The Asset to capture demand without competing directly for the same tenant
base.
Positioned less than a mile away from the primary commercial corridor, The Asset combines proximity to Brickell's retail, business
and transit infrastructure with the private residential character of its immediate block – a rare pairing in a submarket defined by high-
density development and traffic.
The Asset delivers its premium touches at the unit level – in-unit washer/dryer, new appliances, high ceilings, elevator service,
and private balconies, with an efficient common-area footprint that limits amenity-driven operating expenses.
• The Asset totals 22-income-producing units across 9,398 SF of NRA - comprised of 21 residential units spanning 8,948 SF,
and 1 ground-floor retail suite spanning 450 SF .
• Since delivery in February 2026, The Asset has demonstrated strong lease-up capability - reaching 100% occupancy for the
residential component in less than 3 months of opening, in one of South Florida’s most competitive rental markets.
• Across expense reimbursements, current in-place and asking rents comprising both residential and commercial components, the
Asset supports a blended annualized PGI of approximately $567K.
SIX50 represents the only boutique, luxury, low-rise multifamily product of its kind within the immediate market segment - while
nearby large-scale developments such as The Vibe and Flow Brickell benefit from the same institutional-quality demographics, they
target a distinctly different renter profile, positioning The Asset to capture demand without competing directly for the same tenant
base.
Positioned less than a mile away from the primary commercial corridor, The Asset combines proximity to Brickell's retail, business
and transit infrastructure with the private residential character of its immediate block – a rare pairing in a submarket defined by high-
density development and traffic.
The Asset delivers its premium touches at the unit level – in-unit washer/dryer, new appliances, high ceilings, elevator service,
and private balconies, with an efficient common-area footprint that limits amenity-driven operating expenses.
Property Facts
| Price Per Unit | $519,048 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 4.01% | Building Size | 20,000 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 95% |
| No. Units | 21 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2026 |
| Property Subtype | Apartment |
| Price Per Unit | $519,048 |
| Sale Type | Investment |
| Cap Rate | 4.01% |
| Sale Condition | 1031 Exchange |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Building Size | 20,000 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 2026 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $975,000 | Total Assessment | $1,753,120 |
Property Taxes
Parcel Numbers
Land Assessment
$975,000
Improvements Assessment
$0
Total Assessment
$1,753,120
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