1567 1St St Miami, FL 33125

This exceptional Class A, 14-unit hotel in Miami's vibrant Little Havana neighborhood presents a lucrative investment opportunity. Priced at $4,500,000 with a 7.00% cap rate, this fully operational property (opening February 2024) offers significant potential. The building comprises thirteen oversized studios (approximately 440-460 square feet each), easily convertible to one-bedroom units, and one larger one-bedroom unit (550 square feet). This flexible design allows for operation under the City of Miami's double density workforce program as apartments, with a designated unit mix: one unit at 30% AMI, two units at 50% AMI, and twelve units at 140% AMI (average median income). Alternatively, by paying deferred impact fees, the property can be licensed for short-term rental operation as a motel or lodging establishment. Its strategic location near Calle Ocho and Brickell provides easy access to fine dining, upscale shopping, charming cafes, and beautiful parks, immersing residents in the area's rich culture. This property represents a unique blend of residential and hospitality potential, making it an ideal investment for discerning buyers seeking strong returns in a thriving Miami market. The address is 1567 NW 1st St, Miami, FL 33125, in Miami-Dade County.