Turnkey 6-Unit
500 SW 8th Avenue Miami, FL 33130
500 SW 8th Avenue, Miami, FL, 33130
$1,749,999
For Sale
$1,749,999
MULTI_FAMILY - Other - Miami, FL
Property Size4,608 SF
Lot Size0.13 Acres
Price / SF$379.77
Days on Market211
Property Features for 500 SW 8th Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- 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
Building Details
- Year built
- 1925
- Floors in Building
- 2
- Architectural style
- Other
Listing Agency
Sellstate 5 Star Realty
(239) 491-2430
1130 Lee Blvd Ste A, Lehigh Acres, FL
Listed by
Joey Fumero-Manso · License #279646883
(786) 400-6373
Added: Dec 17, 2025 Checked: Jul 16 at 9:06 pm
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
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
Apartment buildings
Similar For Sale Nearby
FAQs
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
