5450 1St Ave Miami, FL 33127

This 1948-built, one-story apartment building in Miami, Florida, presents a compelling investment opportunity. Located at 5450 NW 1st Ave, Miami, FL 33127, this property is situated in a thriving area, offering easy access to Wynwood (6-minute drive), Brickell City Centre & Bayside Marketplace (12-minute drive), and South Beach (17-minute drive). Currently configured as a duplex/triplex/quadruplex, the property boasts one unit currently rented at $1,800 per month, while another unit is vacant. The property is zoned for multi-family use, allowing for the construction of up to nine units, with the possibility of adding up to three stories. This presents significant potential for increasing rental income. The existing structure offers the opportunity to expand or renovate. The roof was completely replaced in 2021 with all necessary permits. The asking price for this exceptional property is $739,900. This is an ideal investment for those seeking to capitalize on Miami's robust real estate market and the potential for significant returns. The property's location in an opportunity zone adds further investment appeal. This is a rare chance to acquire a property with immediate rental income and substantial upside potential.