500 SW 8th AVE, Miami FL 33130
500 8th AVE, Miami, FL, 33130
500 8th AVE, Miami, FL, 33130Details
- Date added: Added 3 months ago
- Category: Single Family Residence
- Type: Residential
- Status: Active
- Bedrooms: 12
- Bathrooms: 6
- Half baths: 0
- Total rooms: 0
- Area: 4608 sq ft
- Lot size: 5800 sq ft
- SubdivisionName: HORNERS ADDN
- ListOfficeName: Sellstate 5 Star Realty
- GarageSpaces: 0
- View: None
- ListAOR: Miami Association of REALTORS®
- MLS ID: A12004679
Overview
-
Description:
TURNKEY LITTLE HAVANA MULTIFAMILY | 6.85% CAP RATE
Exceptional investment opportunity in the heart of Little Havana! This premium income-producing asset consists of two detached buildings featuring a uniform mix of six fully renovated 2-bedroom, 1-bathroom units. Operating with an efficient 31.83% expense ratio, the property generates a strong Net Operating Income (NOI) of $115,144.50, delivering an attractive 6.85% cap rate at the $1,680,000 asking price.
Ownership has invested over $200,000 in recent capital improvements, minimizing future capital expenditures and providing true turnkey ownership. Major upgrades include complete interior renovations (2022), new permitted roofs (2024), new exterior stucco and paint (2024), roof-mounted mini-split HVAC systems (2024), plumbing improvements, and fully upgraded electrical systems with new main service entries and meter boxes (2025/2026).
For added buyer confidence, the City of Miami 40- and 50-year structural recertifications have been fully completed and approved, offering significant peace of mind.
Ideally located just minutes from Brickell, Downtown Miami, and the Health District, this asset benefits from one of Miami's strongest and most resilient rental markets. Whether you're completing a 1031 exchange, expanding a private portfolio, or seeking a stabilized, cash-flowing investment, this property offers immediate, optimized income from day one with minimal deferred maintenance.
Show all description
Amenities
- Features:
- Security Features: Fire Alarm
- CommunityFeatures: None
- ExteriorFeatures: None, Open Balcony
- Waterfront available: No
- GarageYN: No
- AttachedGarageYN: No
- Cooling System: Yes
- PoolPrivateYN: No
- FireplaceYN: No
Location
Video
- Virtual Tour: https://www.propertypanorama.com/instaview/mia/A12004679
Building Details
- Cooling features: Central Air
- Year built: 1925
- ArchitecturalStyle: Detached, Two Story, Other
- NewConstructionYN: No
- Building Name: HORNERS ADDN
- Exterior material: Frame With Stucco
- Roof: Composition Roll
- Heating: Central
- Parking: None
