500 SW 8th Avenue, Miami, FL 33130
- $1,649,999
- 12
- BD
- 6
- BA
- 4,658
- SqFt
- List Price
- $1,649,999
- Status
- ACTIVE
- Days on Market
- 21
- MLS#
- A12075866
- Subtype
- Residential
- Style
- Other
- Year Built
- 1925
- Bedrooms
- 12
- Bathrooms
- 6
- Full Baths
- 6
- Living Area
- 4,658
- Acres
- 0.13
- Subdivision
- Horners Addn
- MLS Area Major
- 2410
Property Description
Exceptional investment opportunity in the heart of Little Havana. This income-producing asset consists of two detached buildings featuring a uniform mix of six fully renovated 2-bedroom, 1-bathroom units. Operating with an efficient 31.83% expense ratio, the property generates a Net Operating Income (NOI) of $115,144.50, representing an approximate 6.98% cap rate based on a $1,649,000 purchase price.Ownership has invested over $200,000 in recent capital improvements, helping minimize future capital expenditures and offering a turnkey ownership opportunity. Major upgrades include complete interior renovations (2022), new permitted roofs (2024), new exterior stucco and paint (2024), roof-mounted mini-split HVAC systems (2024), plumbing improvements, and fully upgraded electrical systems with new main service entries and meter boxes (2025/2026).For additional confidence, the City of Miami 40- and 50-year structural recertifications have been fully completed and approved. Ideally located near Brickell, Downtown Miami, the Health District, and major employment and transportation corridors, the property benefits from strong rental demand and long-term appreciation potential associated with Miami's continued growth and development.A stabilized multifamily asset with established income, extensive recent improvements, completed recertifications, and a central Little Havana location.
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Additional Information
- Interior Features
- Other
- Exterior Features
- Balcony, Lighting, Outdoor Living Area
- Taxes
- $24,355
- Property Description
- Other
- Flooring
- Vinyl
- Appliances
- Refrigerator
- Heating
- Central
- Air Conditioning
- Central Air
- Exterior Construction
- Block, Frame, Stucco
- Stories
- 2
- Levels
- Two
- Roof
- Shingle
- Parking Features
- Driveway, On Street
- Elementary School
- Riverside (Miami-Dade)
- Middle School
- Jose De Diego
- High School
- Booker T. Washington
Listing courtesy of Sellstate 5 Star Realty. Contact:
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Agent: Joey Fumero-Manso | Email: jfumero.re@gmail.com