Turnkey 6-Unit
For Sale
$1,749,999
500 SW 8th Avenue, Miami, FL 33130
MULTI_FAMILY - Other - Miami, FL
Property Size4,608 SF
Lot Size0.13 Acres
Price / SF$379.77
Days on Market232
Property Features for 500 SW 8th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
3901
Subdivision
OA01 - Out of Area
Standard status
Active
APN
01-4138-006-0180
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HORNERS ADDN PB B-160 BEG NE COR LT 32 S45.87FT W84.40
Tax Annual Amount
22803
Legal Description
HORNERS ADDN PB B-160 BEG NE COR LT 32 S45.87FT W84.40
Building Details
Year built
1925
Floors in Building
2
Architectural style
Other
Listing Agency:
Sellstate 5 Star Realty
(239) 491-2430
Listed By:
Joey Fumero-Manso · License #279646883
(786) 400-6373
Added: Dec 17, 2025
Changed: Jul 16
Last Checked: Aug 6 at 3:06AM
MLS# 2025025098
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey 6-unit multifamily property has been fully renovated and is currently producing $13,900 per month in income, reflecting a stated 6.58% cap rate. The building consists of six 2BD/1BA units totaling 4,608 square feet. Reported improvements include completed 2025 40- and 50-year recertifications, a new roof installed in 2024 (permitted), and replacement of all A/C systems in 2023.
Located at 500 SW 8th Avenue in Miami, FL 33130 (Miami-Dade County), the property is presented as an operational, low-maintenance investment with the major upgrades already completed.
Located at 500 SW 8th Avenue in Miami, FL 33130 (Miami-Dade County), the property is presented as an operational, low-maintenance investment with the major upgrades already completed.
Key Highlights
- Fully renovated 6‑unit multifamily built in 1925 in Little Havana
- Generates $13,900/month in income with a 6.58% cap rate (as stated)
- Six units total: 2BD/1BA each, totaling 4,608 SF
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 6-unit multifamily with recent roof, replaced A/C, and current $13,900 monthly income.
Where is this apartment building located?
The property is located at 500 SW 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: Fully renovated 6‑unit multifamily built in 1925 in Little Havana; Generates $13,900/month in income with a 6.58% cap rate (as stated); Six units total: 2BD/1BA each, totaling 4,608 SF
