Recently Renovated 7-Unit
1556 Southwest 6th Street Miami, FL 33135
For Sale
$900,000
Single-story 7-unit multifamily property with month-to-month rents and recent renovations including impact windows and new systems.
Property Size2,493 SF
Price / SF$361.01
Days on Market2427
Property Features for 1556 Southwest 6th Street
General Information
- Standard status
- Active
- Size
- 2,493 SF
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1947
Listing Agency:
UNITED DREAM REAL ESTATE
(786) 355-6646
Listed By:
ABIEL BALLESTEROS · License #3194299
(786) 355-6646
Source:
Compass
Added: Nov 30, 2019
Changed: Jul 22
Last Checked: Jul 23 at 10:49AM
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 UNITED DREAM REAL ESTATE
Investment Insights
Based on property information with market context.
This is a one-story 7-unit apartment building recently renovated with new impact windows, a new roof, new electrical, and updated bathrooms and kitchens. The rents are all month to month.
Located in Little Havana, the property is offered for sale.
A complete marketing package, including a rent roll and expenses, is available via the MLS attachment.
Located in Little Havana, the property is offered for sale.
A complete marketing package, including a rent roll and expenses, is available via the MLS attachment.
Key Highlights
- Single‑story 7‑unit multifamily built in 1947
- Recently renovated with new impact windows, new roof, new electrical, and updated kitchens and bathrooms
- All rents are month‑to‑month
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 | $89.7k | $36.00 |
| − Vacancy | −$6.0k | −$2.41 |
| EGI | $83.7k | $33.59 |
| − OpEx | −$37.7k | −$15.11 |
| NOI | $46.1k | $18.47 |
2,493 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$657.9K
$575.7K – $767.6K
NOI $46,054 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,795 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Fast restaurant
Restaurant
FAQs
What type of property is this?
Apartment building - Single-story 7-unit multifamily property with month-to-month rents and recent renovations including impact windows and new systems.
Where is this apartment building located?
The property is located at 1556 Southwest 6th Street Miami, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Single‑story 7‑unit multifamily built in 1947; Recently renovated with new impact windows, new roof, new electrical, and updated kitchens and bathrooms; All rents are month‑to‑month
