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    701 1St St Miami, FL 33128

    For Sale
    $1,350,000

    High-Yield Apartment Building in Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This two-story, 1925-built apartment building in Miami, Florida, presents a compelling investment opportunity. Located at 701 NW 1st St, in the vibrant Riverside neighborhood of Miami-Dade County (zip code 33128), this multifamily property boasts a prime location, just one minute from Brickell and the Miami River, and within easy reach of popular dining and entertainment venues like Sea Spice and Kiki on the River. The property offers convenient parking and is situated in a zone with significant potential for future value appreciation. Currently generating a substantial annual gross income of $108,000, this asset provides immediate positive cash flow. Its proximity to Brickell (5 minutes away), Downtown Miami, and Wynwood (both within 10 minutes) ensures strong rental demand. The building's location in a dense urban area with numerous bars, restaurants, coffee shops, and parks caters to a large renter population. This is a rare chance to acquire a well-performing multifamily property in one of Miami's most desirable and rapidly appreciating neighborhoods. The asking price is $1,350,000.

    Property Features for 701 1St St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1925
    Stories
    2

    HighLights

    • $1,350,000 asking price.
    • Multifamily apartment building (duplex/triplex/quadruplex).
    • 1925 construction, 2 stories.
    • Located at 701 NW 1st St, Miami, FL 33128, in Miami‑Dade County.
    • Prime location near Brickell and the Miami River, offering high rental demand.
    • Generating $108,000 annual gross income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Audit and Management Services Accountant

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2062268
    Latitude
    25.7749075

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    FAQs

    What type of property is this?
    Multifamily property - High-Yield Apartment Building in Prime Location
    Where is this multifamily property located?
    The property is located at 701 1St St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: $1,350,000 asking price.; Multifamily apartment building (duplex/triplex/quadruplex).; 1925 construction, 2 stories.
    Request Owner's contact information
    701 1St St Miami, FL 33128
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    Miami, FL 33128
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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
    701 1St St Miami, FL 33128
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