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    121 55Th St Miami, FL 33137

    For Sale
    $1,975,000

    High-Yield Multifamily Investment in Miami

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This fully-rented, 8-unit apartment building presents a compelling investment opportunity in Miami, Florida. Constructed in 1924 and situated at 121 NE 55th St, Miami, FL 33137, this two-story building offers significant cash flow potential. Currently generating $12,700 in gross monthly income, recent renovations allow for projected gross income increases to $14,000-$15,000 per month. The property is owner-managed, resulting in low operating expenses and maximizing profitability. Located in a rapidly developing area of Miami-Dade County, this property benefits from significant ongoing neighborhood improvements and new multifamily construction, promising substantial future appreciation. The asking price is $1,975,000. This is a rare chance to acquire a well-maintained, high-performing multifamily asset in one of Miami's most dynamic neighborhoods. The property's strong occupancy rate and potential for rent increases make it an attractive investment for both seasoned and new investors seeking stable income and long-term growth. Don't miss this chance to secure a piece of Miami's thriving real estate market.

    Property Features for 121 55Th St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1924
    Stories
    2

    HighLights

    • $1,975,000 asking price.
    • Eight‑unit apartment building in Miami, FL.
    • 1924 construction, two stories.
    • Currently generating $12,700 monthly gross income, with projected gross income of $14,000-$15,000.
    • Located in a rapidly developing Miami neighborhood with significant future upside potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1937397
    Latitude
    25.8264111

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    FAQs

    What type of property is this?
    Multifamily property - High-Yield Multifamily Investment in Miami
    Where is this multifamily property located?
    The property is located at 121 55Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,975,000.
    What are key features of this property?
    This property features: $1,975,000 asking price.; Eight-unit apartment building in Miami, FL.; 1924 construction, two stories.
    Request Owner's contact information
    121 55Th St Miami, FL 33137
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    Miami, FL 33137
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    121 55Th St Miami, FL 33137
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