701 1St StMiami, FL 33128

Property Details for 701 1St St

Year built

1925

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This two-story, 1925-built apartment building in Miami, Florida, presents a compelling investment opportunity. Located at 701 NW 1st St, in the vibrant Riverside neighborhood of Miami-Dade County (zip code 33128), this multifamily property boasts a prime location, just one minute from Brickell and the Miami River, and within easy reach of popular dining and entertainment venues like Sea Spice and Kiki on the River. The property offers convenient parking and is situated in a zone with significant potential for future value appreciation. Currently generating a substantial annual gross income of $108,000, this asset provides immediate positive cash flow. Its proximity to Brickell (5 minutes away), Downtown Miami, and Wynwood (both within 10 minutes) ensures strong rental demand. The building's location in a dense urban area with numerous bars, restaurants, coffee shops, and parks caters to a large renter population. This is a rare chance to acquire a well-performing multifamily property in one of Miami's most desirable and rapidly appreciating neighborhoods. The asking price is $1,350,000.

Location Insight

City

Miami

County

Miami-Dade

State

Florida

Latitude

25.7749

Longitude

-80.2062

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