711 1St St Miami, FL 33128

Property Details for 711 1St St

Year built

1925

Property type

Small apartment buildings

Description

This two-story, 1925-built apartment building in Miami's vibrant Riverside neighborhood offers a compelling investment opportunity. Located at 711 NW 1st St, Miami, FL 33128, this multifamily property boasts a prime location, just one minute from Brickell and popular dining destinations like Sea Spice and Kiki on the River. The property generates a substantial annual gross income of $108,000, ensuring positive cash flow from the outset. Its proximity to Brickell (5 minutes), Downtown Miami (10 minutes), and Wynwood (10 minutes) provides exceptional access to the city's thriving cultural and business scenes. The building's location within Miami-Dade County, in a zone with high potential for future appreciation, further enhances its investment value. On-site parking is available for residents. The property's dense urban setting offers residents easy access to a variety of amenities, including bars, restaurants, coffee shops, and parks. The building's multifamily nature, specifically as an apartment building or duplex/triplex/quadplex, presents a strong foundation for continued rental income and long-term growth. The asking price is $1,335,000. This is a rare chance to acquire a well-performing asset in one of Miami's most desirable and rapidly appreciating areas.