For Sale
$1,200,000

57 42Nd St Miami, FL 33127

High-yield investment, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional investment opportunity presents a 1924-built, one-story apartment building located at 57 NW 42nd St, Miami, FL 33127, in the heart of Miami's Design District. The property, situated on a substantial 14,000 square foot lot, currently generates a robust annual rental income of $65,000, representing a 5% capitalization rate. This multifamily property, classified as an apartment building/duplex/triplex/quadruplex, offers significant potential. Investors can maintain the existing rental operation or explore the possibility of new construction, leveraging the large parcel size and prime location. The property's position within the rapidly developing Design District, surrounded by high-value properties, ensures strong future appreciation potential. The area is known for its vibrant community and safe environment, making it an attractive location for renters. This is more than just a rental property; it's a strategic investment in a thriving and evolving neighborhood. The property's asking price is $1,200,000. Don't miss this chance to acquire a valuable asset in one of Miami's most sought-after areas.

Highlights

  • $1,200,000 asking price.
  • Multifamily apartment building (duplex/triplex/quadruplex).
  • Built in 1924, one story.
  • Located at 57 NW 42nd St, Miami, FL 33127, in the Miami Design District.
  • Generates $65,000 annual rental income with a 5% cap rate.
  • 14,000 sq ft lot.

Property Details for 57 42Nd St

Property type
Apartment buildings, Small apartment buildings
Year Built
1924
Stories
1

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.8152618
Longitude
-80.1967764

FAQs

What type of property is this?
Apartment building - High-yield investment, prime location.
Where is the apartment building located?
The property is located at 57 42Nd St Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: $1,200,000 asking price.; Multifamily apartment building (duplex/triplex/quadruplex).; Built in 1924, one story.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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57 42Nd St
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