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    1567 NW 1St St Miami, FL 33125

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    For Sale
    $4,500,000

    14-unit multifamily building in vibrant Little Havana, operational February 2024.

    Lot size:
    0.11 Acres

    Property Features for 1567 NW 1St St

    General Information

    Lot size
    0.11 Acres

    Source: Fausto Commercial Realty Consultants Inc Agent Carlos Miranda

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Building in Little Havana

    This 14-unit multifamily building in Little Havana is coming live and fully operational in February 2024. It can be operated traditionally under the City of Miami double density workforce program as apartments, with 1 unit at 30% AMI, 2 units at 50% AMI, and 12 units at 140% AMI (average median income). Thirteen units are oversized studios, ranging from 440 to 460 square feet and easily convertible to one-bedroom units. There is also one one-bedroom unit with 550 square feet. Alternatively, by paying deferred impact fees, motel or lodging use operators can obtain licensure for short-term rentals. The property is located close to Calle Ocho and Brickell, offering residents a short walk to fine dining, chic shops, sidewalk cafes, and picturesque parks, immersing them in the vibrant culture of the area.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.22111
    Latitude
    25.774496

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    FAQs

    What type of property is this?
    Apartment building - 14-unit multifamily building in vibrant Little Havana, operational February 2024.
    Where is this apartment building located?
    The property is located at 1567 NW 1St St Miami, FL.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: - 14-unit multifamily building in Little Havana.; - Ready for operation in February 2024.; - Eligible for City of Miami double density workforce program.
    (305) 431-2258
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    1567 NW 1St St Miami, FL 33125
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1567 NW 1St St Miami, FL 33125
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