1844 19Th St Miami, FL 33125

Property Details for 1844 19Th St

Year built

1971

Property type

Small apartment buildings

Description

This exceptional six-unit apartment building in Miami, Florida, presents a compelling investment opportunity. Located at 1844 NW 19th St, Miami, FL 33125, this two-story, 1971-built property offers a blend of immediate income and significant potential for future growth. The building comprises two 2-bedroom/1-bathroom units and four 1-bedroom/1-bathroom units. Currently, four units are occupied, generating a stable monthly income of $3,650. However, rents are significantly below market value, allowing for substantial increases. Conservative estimates project a monthly income exceeding $11,200 with rents raised to $1,800 for 1-bedroom units and $2,000 for 2-bedroom units, resulting in an estimated annual income of approximately $134,400. The property boasts convenient features including separate electric meters for each unit, two balconies, and eight private parking spaces. Furthermore, the building successfully completed a 40/50-year recertification in 2023, ensuring long-term structural integrity. Situated minutes from downtown Miami, this property benefits from a prime location within a thriving area characterized by strong rental demand and a growing population, promising excellent long-term appreciation. This is a rare chance to acquire a multifamily property with immediate cash flow and substantial upside potential in a highly desirable Miami location.