8270-8280 NE 1st Pl - Apartments FOR SALE


Miami, FL 33138- Little River
$2,590,000 USD
305-697-7011
8270-8280 NE 1st Pl, Miami, FL for Sale
$2,590,000 USD
Apartments - FOR SALE
1/31
null | 2.01% Cap Rate

8270-8280 NE 1st Pl
Miami, FL 33138
Little River


HIGHLIGHTS

  • Turn-key, renovated, and beautifully furnished with all furniture and fixtures included in sale
  • Long-term use optionality & redevelopment potential up to 19 units by-right with underlying T5-O commercial zoning
  • Directly adjacent to The Citadel, shopping and dining in the heart of Little River's evolution
  • Opportunity Zone location and Live Local Act eligible
  • All buildings w/ up-to-date recertifications & zero immediate CapX needs
  • Superior quality for secure rental income potential w/ new leases commanding premium rents

OVERVIEW

THE ALPHA COMMERCIAL ADVISORS® PRESENTS A STABILIZING TURN-KEY ASSEMBLAGE IN THE HEART OF LITTLE RIVER’S EVOLUTION WHERE DESIGN, DINING & RE-DEVELOPMENT CONVERGE. Offering a beautifully re-imagined and absolutely turn-key 4-plex + single-family residence delivered renovated and designer-furnished, this is the ideal play for long-term multifamily investors seeking an operation-ready rental compound with re-development upside for a commercial or mixed-use project, or adaptive re-use program in the near-term ahead of redevelopment. Already commanding premium market rents due to the high quality finishes, fully-furnished units and spacious, even luxurious grounds and desirably situated in direct walkable adjacency to The Citadel, dining and shopping, this property provides investors a rare set of conditions that secure rentability in the long-term compared to aging existing market rental inventory in the Little River neighborhood. The fourplex features three (3) 2-bedroom / 1-bath units and one sizable (1) 1-BR / 1-Bath unit, each showcasing its own unique design theme, and beautifully restored with high-end finishes and meticulous design details. Historically operated as short-term rentals, this meticulously maintained two-parcel rental compound is half-way to stabilization with two of four 4-plex units newly leased at $2,900/month—with straightforward lease-up remaining on the SFR and final unit. One unit in the fourplex has not been renovated as it is occupied by long-term annual tenant. With zero additional CapX requirements needed, the property is well on its way from a pro-forma, to an in-place 5.8% CAP or better -- an attractive return for covered land in a premiere location considering the amount of improvements compared to the lot size. Plus -- underlying T5-O commercial zoning provides rare optionality for maximizing investment potential and is suitable for: --Multi-family investors & short-term rental operators seeking a plug-and-play rental hub in the most walkable pocket to F&B and retail --Specialty-use or institutional operators (school, wellness, design collective, etc.) seeking beautiful grounds and multiple structures --Bullish covered-land buyers holding for future redevelopment—by-right potential for 19 units / 5 stories, or up to 292 units / 8–12 stories under Live Local Act incentives INVESTMENT HIGHLIGHTS: -Proven Path to a +/- 6% CAP return with zero capX requirements -Investor-friendly, with the single-family residence currently vacant, investment-minded buyer may opt to live in the house (or utilize it as an office location) and rent the fourplex, allowing for easy on-site management and opening the door for better financing options -Building recertifications up-to-date for hassle-free investment -Turn-Key Income Producer: Fully renovated with cohesive, high-end designer-curated interiors that command premium rates—ideal for immediate operation as Airbnb, boutique hospitality, or long-term rentals. -Operational Versatility: Dual-structure configuration allows income diversification via office or creative use within the SFR alongside income generation from the modernized 4-plex, supporting multiple investment approaches. -Prime Walkable Location: Steps from The Citadel–the culinary anchor of Little River– and surrounded by cafés, cultural establishments, art studios, chef-owned restaurants, and neighborhood retail. -Flexible Zoning & Future Development Upside: With T5-O zoning, Opportunity Zone benefits, and Live Local Act eligibility, the assemblage offers exceptional flexibility for future redevelopment and long-term value momentum. ZONING Located within a burgeoning section of Little River, the subject assemblage is zoned T5-O allowing for a diverse mix of multifamily, mixed-use, and commercial uses as office, retail, and more. Critically, the property's commercial zoning allows for 65 du/acre (equal to 19 units by-right on this site) and also qualifies under the Live Local Act which would allow for essentially unlimited density and thanks to its direct adjacency to the T6-8-O zoning district— re-development under LLA would allow for up to 8-12 stories of height compared to the 5 stories currently allowed by-right. This adjacency places the site in immediate proximity to multiple large-scale projects slated for delivery in the coming cycles, positioning the site at the leading edge of Little River’s next development wave, with re-development already in full swing directly contiguous to the site. PROPERTY HIGHLIGHTS --Two modern, meticulously maintained buildings --Fully furnished units with upscale finishes and unique design themes --Granite countertops, stainless steel appliances, in-unit laundry --Fourplex equipped with new mini-splits & SFR features central AC --Impact windows and doors throughout --Fully gated properties with updated exterior lighting --Professionally landscaped grounds with furnished outdoor areas --Ample onsite parking and nearby public parking lot

FOR SALE DETAILS

PRICE

$2,590,000 USD

PRICE/SF

$792 USD /SF

# OF UNITS

5

PRICE/UNIT

$518,000

CAP RATE

2.01%

% LEASED

52%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turn-Key Multifamily + SFR Compound

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1941

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

T5-O

APN/PARCEL ID

01-3112-008-0410

ASK ABOUT THIS PROPERTY

Jamie ManiscalcoThe Alpha CommercialMore Info
305-697-7011

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Jamie ManiscalcoThe Alpha CommercialMore Info
305-697-7011

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.