48 13Th Ave Miami, FL 33125

Property Details for 48 13Th Ave

Year built

1925

Property size

6,205 SF

Property type

Commercial real estate

APN

01-4102-005-9510

Description

This exceptional 8-unit apartment building, located in the heart of Miami's vibrant Little Havana neighborhood, presents a compelling investment opportunity. The property, situated at 48 NW 13th Ave, Miami, FL 33125, boasts a total of 6,205 square feet on a 5,000 square foot lot. Built in 1925 and extensively renovated in 2021, the two-story building features a mix of four 2-bedroom/1-bathroom and four 1-bedroom/1-bathroom units, ensuring a diverse tenant base. All units benefit from modern upgrades including new impact windows, kitchens, bathrooms, flooring, and split A/C units. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $124,419, with a pro-forma NOI projected at $146,600. The asking price is $2,900,000, representing a current cap rate of 4.29% and a pro-forma cap rate of 5.06%. The property is zoned T5-L and offers convenient access to public transportation, Loan Depot Stadium, parks, shops, restaurants, and is minutes away from Downtown Miami and Brickell. This stabilized investment presents a rare opportunity to acquire a fully renovated, high-performing multifamily asset in a prime location. The price per unit is $362,500. The property's APN is 01-4102-005-9510.