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767 NW 35th St 5 Unit Apartment Building $1,390,000 ($278,000/Unit) Miami, FL 33127

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Investment Highlights

Five-unit multifamily property located in the Allapattah neighborhood of Miami, offering a total building size of 3,118 SF on a 0.15-acre lot.
Built in 1937, the two-story building features a low-rise apartment style and is classified as Building Class C.
Conveniently located near major Miami corridors, with strong walkability (Walk Score of 80) and proximity to Wynwood, Design District, and Downtown Mi

Priced at $1,390,000, equating to approximately $278,000 per unit, presenting an attractive investment opportunity in a high-demand rental market.
Situated within a designated Opportunity Zone, providing potential tax advantages for qualified investors.
On-site parking available with a ratio of 1.6 spaces per 1,000 SF, enhancing tenant convenience.

Executive Summary

Stabilizing 5-unit multifamily property in the rapidly evolving Allapattah submarket, just minutes from Wynwood, Midtown, and the Miami Health District. This asset offers immediate income with additional upside through lease-up and future rent growth. Recent capital improvements include impact windows, updated electrical systems with a new panel and meter, plumbing upgrades, a new water heater, a newer roof with waterproofing, and structural enhancements. Situated on a 6,800 SF lot, the property also offers long-term redevelopment potential in one of Miami’s fastest-growing urban corridors.
Located minutes from Wynwood, Downtown Miami, the Health District, and Miami International Airport, the property benefits from robust workforce housing demand and sustained redevelopment momentum throughout the neighborhood. Infrastructure advancements and new development activity in Allapattah further enhance the area’s growth trajectory. The property is currently 80% leased, offering immediate cash flow with a value-add upside through lease-up of the vacant unit and strategic rent repositioning. Proforma cap rates range from 8.3% to 9.2%, reinforcing the asset’s strong return potential.

OM Allapattah Bldg JY

Property Facts

Price	$1,390,000	Lot Size	0.15 AC
Price Per Unit	$278,000	Building Size	3,118 SF
Sale Type	Investment	Average Occupancy	80%
No. Units	5	No. Stories	2
Property Type	Multifamily	Year Built	1937
Property Subtype	Apartment	Parking Ratio	1.6/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Class	C
Zoning	3900 - Multifamily

Price	$1,390,000
Price Per Unit	$278,000
Sale Type	Investment
No. Units	5
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.15 AC
Building Size	3,118 SF
Average Occupancy	80%
No. Stories	2
Year Built	1937
Parking Ratio	1.6/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	3900 - Multifamily