Renovated Multifamily in Little
500 Southwest 8th Avenue Miami, FL 33130
500 Southwest 8th Avenue, Miami, FL, 33130
$1,749,999
For Sale
$1,749,999
Fully renovated 6-unit multifamily property in Little Havana.
Property Size4,608 SF
Price / SF$379.77
Days on Market126
Property Features for 500 Southwest 8th Avenue
General Information
- Standard status
- Active
- Size
- 4,608 SF
- Property subtype
- Residential / Single
Building Details
- Year Built
- 1925
Listing Agency
Sellstate 5 Star Realty
(239) 491-2430
Listed by
Joey Fumero-Manso · License #3480525
(239) 491-2430
Source
Compass
Added: Mar 13 Checked: Jul 16 at 7:57 am
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 Sellstate 5 Star Realty
Investment Insights
Based on property information with market context.
This fully renovated 6-unit multifamily building is located in Little Havana. The property consists of five 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit, totaling 4,608 square feet of living space. The building's 40-year recertification was completed in 2025, and the roof was replaced in 2024 with a permit. All A/C units and mini-splits were updated in 2023. The property generates $13,850 per month in rental income, translating to a 6.72% capitalization rate. This property is suitable for long-term investment.
Key Highlights
- High income‑generating potential: generates $13,850 per month in rental income with a 6.72% capitalization rate.
- Fully renovated & turn‑key: completely renovated, offering a hassle‑free, ready‑to‑rent investment.
- Durable & compliant: recent updates include a new roof (2024), updated A/C units (2023), and completed 40‑year recertification (2025).
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 | $165.9k | $36.00 |
| − Vacancy | −$11.1k | −$2.41 |
| EGI | $154.8k | $33.59 |
| − OpEx | −$69.6k | −$15.11 |
| NOI | $85.1k | $18.47 |
4,608 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,125 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.11M
$2.72M – $3.63M
NOI $217,730 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully renovated 6-unit multifamily property in Little Havana.
Where is this apartment building located?
The property is located at 500 Southwest 8th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,749,999.
What are key features of this property?
This property features: High income‑generating potential: generates $13,850 per month in rental income with a 6.72% capitalization rate.; Fully renovated & turn‑key: completely renovated, offering a hassle‑free, ready‑to‑rent investment.; Durable & compliant: recent updates include a new roof (2024), updated A/C units (2023), and completed 40‑year recertification (2025).
