221 16Th Ave Miami, FL 33125

Property Details for 221 16Th Ave

Year built

1952

Property type

Small apartment buildings

Description

This exceptional four-unit apartment building, built in 1950s, is situated on a 5,000 square foot lot in Miami's vibrant Little Havana neighborhood. The property, located at 221 NW 16th Ave, Miami, FL 33125, boasts an ideal location with immediate access to major highways like the 836 and I-95, placing it within minutes of Brickell and Downtown Miami. The building consists of four identical one-bedroom, one-bathroom apartments, making management and maintenance efficient. Zoned T5-L, this property allows for short-term rentals, presenting a lucrative opportunity for investors. Its proximity to Loan Depot Marlins Park, Calle Ocho, and the area's thriving arts and entertainment scene adds to its appeal. The building's size exempts it from 40-year certification requirements, simplifying ownership and operation. This is a compelling investment for those seeking a foothold in Miami's dynamic real estate market, offering both immediate income potential and long-term development possibilities. The property is centrally located to key employment centers, making it attractive to renters. This is a rare opportunity to acquire a well-located, easily managed multifamily property in a rapidly growing area. Asking price is $1,200,000.