Turnkey 8-Unit Investment
1068 Northwest 5th Street Miami, FL 33128
For Sale
$1,990,000
Remodeled 8-unit property in Little Havana with central A/C.
Property Size4,480 SF
Price / SF$444.20
Days on Market200
Property Features for 1068 Northwest 5th Street
General Information
- Standard status
- Active
- Size
- 4,480 SF
- Property subtype
- Residential Income / Fourplex
Building Details
- Year Built
- 1924
Listing Agency:
Binter Real Estate
(305) 416-3040
Listed By:
Maria Marianeschi · License #3362667
(305) 416-3040
Source:
Compass
Added: Jan 4
Changed: Jul 10
Last Checked: Jul 23 at 6:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Binter Real Estate
Investment Insights
Based on property information with market context.
The Ohio Flats is an 8-unit investment property. The property has been completely remodeled and features central A/C and impact windows. The property consists of 4 separate 2-story buildings, each containing 2 units. The 40 Year Certification has just been completed. A coin laundry is located on site. Street parking is available. The property is located in the heart of Little Havana, within walking distance of the Miami River. The property size is 4,480 square feet.
Key Highlights
- Turnkey 8‑unit investment property
- Completely remodeled with central A/C and impact windows
- 40 Year Certification recently completed
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.3k | $36.00 |
| − Vacancy | −$10.8k | −$2.41 |
| EGI | $150.5k | $33.59 |
| − OpEx | −$67.7k | −$15.11 |
| NOI | $82.8k | $18.47 |
4,480 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,761 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.02M
$2.65M – $3.53M
NOI $211,682 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Remodeled 8-unit property in Little Havana with central A/C.
Where is this apartment building located?
The property is located at 1068 Northwest 5th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Turnkey 8‑unit investment property; Completely remodeled with central A/C and impact windows; 40 Year Certification recently completed
