Renovated 8-Unit Multifamily
48 NW 13TH AVE Miami, FL 33125
48 NW 13TH AVE, Miami, FL, 33125
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For Sale
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A fully renovated 8-unit multifamily property with a 2-bedroom and 1-bedroom unit mix and impact windows.
Property Size6,205 SF
Lot Size0.11 Acres
Price / SF$419.02
Days on Market57
Property Features for 48 NW 13TH AVE
General Information
- Standard status
- Active
- Size
- 6,205 SF
- Lot size
- 0.11 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1925
Listing agency
Eleven Trust Real Estate Services
(305) 299-4124
Listed by
Rafael Fermoselle · License #FL 3233005
Source
Crexi
Added: May 28 Updated: Jul 22 at 11:56PM Checked: Jul 22 at 11:56PM
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 Eleven Trust Real Estate Services
Investment Insights
Based on property information with market context.
This renovated 8-unit multifamily building was originally built in 1925 and features four 2-bedroom/1-bath units and four 1-bedroom/1-bath units. The property has undergone extensive updates, including new impact windows, updated kitchens and bathrooms, modern flooring, and split A/C units throughout.
The building is located at 48 NW 13th Ave in Miami, FL 33125. The site sits on a 5,000 square foot lot zoned T5-L and is positioned just steps from LoanDepot Park, with nearby parks, restaurants, shopping, and public transportation.
With its established unit mix and recent interior and system improvements, the property is positioned for straightforward occupancy. The lot zoning provides for continued flexibility for future use planning in accordance with applicable regulations.
The building is located at 48 NW 13th Ave in Miami, FL 33125. The site sits on a 5,000 square foot lot zoned T5-L and is positioned just steps from LoanDepot Park, with nearby parks, restaurants, shopping, and public transportation.
With its established unit mix and recent interior and system improvements, the property is positioned for straightforward occupancy. The lot zoning provides for continued flexibility for future use planning in accordance with applicable regulations.
Key Highlights
- Fully renovated 8‑unit multifamily building built in 1925
- Unit mix: (4) 2BD/1BA and (4) 1BD/1BA
- Renovations include new impact windows, updated kitchens and bathrooms, and modern flooring
Local 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 | $223.4k | $36.00 |
| − Vacancy | −$15.0k | −$2.41 |
| EGI | $208.4k | $33.59 |
| − OpEx | −$93.8k | −$15.11 |
| NOI | $114.6k | $18.47 |
6,205 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,627 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.19M
$3.66M – $4.89M
NOI $293,189 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - A fully renovated 8-unit multifamily property with a 2-bedroom and 1-bedroom unit mix and impact windows.
Where is this apartment building located?
The property is located at 48 NW 13TH AVE Miami, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Fully renovated 8‑unit multifamily building built in 1925; Unit mix: (4) 2BD/1BA and (4) 1BD/1BA; Renovations include new impact windows, updated kitchens and bathrooms, and modern flooring
