1159 4Th StMiami, FL 33128

Property Details for 1159 4Th St

Year built

1923

Property type

Commercial real estate

Description

Exceptional redevelopment opportunity in Miami's vibrant Riverside/East Little Havana neighborhood. This 5,000 sq ft lot, zoned T6-8O, offers submitted plans for a 15-unit multifamily building (10,000 sq ft total), anticipated city approval by September 2024. The approved plans include seven micro-studios (allowing short-term rentals) and eight three-bedroom, three-bathroom apartments. A significant advantage is the approved parking waiver, eliminating the need for costly onsite parking construction. The property's central location provides easy access to Downtown Miami, Brickell, and the Health District, with proximity to Marlins Stadium and the Miami River. Currently, a four-unit building on the site generates $4,440 per month in gross income from month-to-month tenants, providing immediate cash flow. The asking price is $1,095,000, representing $120 per square foot and $80,000 per unit. The land value alone is $240 per square foot. This is an ideal investment for developers and investors seeking strong returns in a rapidly growing Miami market. Existing tenants are in place

Location Insight

City

Miami

County

Broward

State

Florida

Latitude

25.7776

Longitude

-80.2143

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