$18,750,000
Miami, FL 33127
MLS# A12089534
42452 sqft
1 / 13
Property Description
5601 NW 1st Avenue presents a rare opportunity to acquire a 91-unit multifamily apartment community in one of Miami's most rapidly evolving urban corridors. The property consists of a mix of studio, one-bedroom, and two-bedroom apartments situated on a substantial 106,187-square-foot site with T4-R zoning.The asset encompasses approximately 50,100 adjusted square feet across ten separate two-story residential buildings constructed between 1947 and 1969. The unit interiors feature a combination of central air conditioning systems, providing a diverse housing product that caters to strong workforce and market-rate rental demand.Strategically located near Little Haiti, Wynwood, the Miami Design District, Midtown Miami, and Downtown Miami, the property benefits from exceptional access to major employment centers, public transportation, shopping, dining, and entertainment destinations. The surrounding area continues to experience significant public and private investment, driving long-term growth and increasing demand for quality rental housing.This offering presents investors with a compelling value-add opportunity through operational improvements, rental rate growth, and asset repositioning. Additionally, the property's sizeable land area and favorable zoning provide significant long-term redevelopment potential, making it an attractive acquisition for both cash-flow-focused investors and future developers seeking scale in a supply-constrained Miami market.
Details
Maps
Contract Information
Comp Sale YN: No
Listing Date: 2026-09-15
Status: Active
Original List Price: 18750000
List Price: $18,750,000
Current Price: $18,750,000
Location and Legal
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
City Name: Miami
Municipal Code: 1
Postal Code: 33127
Subdivision Number: 80
Flood Zone: X
Country: United States
Street Number: 5601
Street Direction Prefix: NW
Street Name: 1st
Street Suffix: Avenue
State Or Province: FL
Postal Code +4: 1651
Area: 2310
Parcel Number: 0131130800010
Zoning: 3900
General Property Information
Number Of Buildings: 10
Number Of Units Total: 4
Occupant Type: Tenant
Lot Size Area: 96507
Property Sub Type: Multi Family
Building Area Main: 42452
Year Built: 1960
Lot Size Acres: 2.22
Office/Member Information
DXORIGMLSID: SEF
Parking Features
Common: 1
Tenant Pays
Electricity: 1
Interior Electric: 1
Possession
Close Of Escrow: 1
Listing Terms
Cash: 1
Conventional: 1
Water Source
Public: 1
Income and Expenses
Gross Income: 1869000
Net Operating Income: 1022000
Description of Unit Type 1
Unit Type: Efficiency
Units Total: 2
Annual Rent: 1375
Description of Unit Type 2
Unit Type: 1 Bedroom
Units Total: 74
Beds Total: 1
Annual Rent: 1633
Description of Unit Type 3
Unit Type: 2 Bedroom
Units Total: 14
Beds Total: 2
Annual Rent: 2082
Description of Unit Type 4
Unit Type: 3 Bedroom
Units Total: 1
Beds Total: 3
Annual Rent: 3000
Showing Requirements
Call Listing Agent: 1
Price Calculations
Current Price To SqFt: 441.67
Section Details
Parcel Number MLX: 0010
Financial Information
Tax Legal Description: 13 53 41 2.215 AC M/L BARRETT SUB AMD PB 79-10 TR 1-A& TR A OF BARRETT COURT PB 85-86 & LOTS 12 & 13 LESS E10FT & LESS BEG 10FTW OF SE COR L
Status Change Information
Major Change Timestamp: 2026-09-15T04:00:00Z
Major Change Type: New Listing
Status Change Date: 2026-09-15
Originating Details
Originating System Key: 563481704
Originating System ID: M00000151
Property Features
Parking Features: Common
Possession: Close Of Escrow
Tenant Pays: Electricity; Interior Electric
Listing Terms: Cash; Conventional
Water Source: Public
Showing Requirements: Call Listing Agent
Listing Office: Eleventrust LLC
Last Updated: September - 16 - 2026
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