1620 40Th AveMiami, FL 33134

Property Details for 1620 40Th Ave

Year built

1959

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This exceptional fourplex in Miami's desirable Little Gables neighborhood presents a compelling investment opportunity. Located at 1620 SW 40th Ave, Miami, FL 33134, this two-story, 1959-built property sits on a spacious 7,500 sq ft corner lot. The building comprises four 2-bedroom, 1-bathroom units, each currently leased for $2,500 per month on a one-year term, generating substantial rental income. Each unit is equipped with its own separate electric meter and three split AC units, ensuring efficient energy management and tenant comfort. Residents enjoy the convenience of in-unit washers and dryers. Significant recent upgrades enhance the property's value and appeal, including brand-new flooring, appliances, and bathrooms throughout. All units feature impact windows and doors, providing enhanced security and energy efficiency. Further improvements include tenting completed in June 2021 and a 40-year recertification in 2022. The electrical system was upgraded to circuit breakers in 2016, and the roof was resealed in 2014. This well-maintained property offers a stable and reliable income stream, situated minutes from the vibrant downtown Gables area, making it an ideal investment for discerning buyers. The asking price is $2,300,000.

Location Insight

City

Miami

County

Miami-Dade

State

Florida

Latitude

25.7567

Longitude

-80.2615

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