900 5Th Ave Miami, FL 33130

Property Details for 900 5Th Ave

Year built

1955

Property size

2,446 SF

Property type

Small apartment buildings

Description

This renovated fourplex apartment building presents a compelling investment opportunity in the vibrant West Brickell/Downtown Miami area. Located at 900 SW 5th Ave, Miami, FL 33130, this property boasts 2,446 square feet on a 7,500 square foot lot. Built in 1955, the single-story building features four units, currently at 100% occupancy, with ample off-street parking for four vehicles. Significant recent renovations include impact glass, a new roof, updated electrical and plumbing systems, new fencing, and landscaping. Each unit is equipped with central air conditioning and space for a washer and dryer. The average current rent is $1,615 per month, with three of the four leases being month-to-month, offering immediate potential for substantial rent increases given that current rents are approximately 30% below market value. The property's corner location provides excellent visibility. Its proximity to Calle Ocho and Brickell Citi Centre enhances its appeal. The T4-R zoning permits home office use and multifamily dwellings. Importantly, the property is situated in an X flood zone, eliminating the need for flood insurance. This turnkey investment is priced at $1,425,000 and presents a rare chance to capitalize on the significant growth and development currently underway in this dynamic Miami neighborhood. The potential to secure a residential loan further enhances its attractiveness.