Buena Vista Flats
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Prime Scale & Capacity: Rare opportunity to acquire a 91-unit multifamily community featuring a mix of studio, 1-bedroom, and 2-bedroom apartments across 10 residential buildings.
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Substantial Land Package: Encompasses 50,100 adjusted sq. ft. set on a massive 2.44-acre (106,187 sq. ft.) lot with favorable T4-R zoning.
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Modern Amenities & High Demand: Unit interiors include central A/C systems, offering a highly attractive product tailored to strong workforce and market-rate rental demand.
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Unbeatable Central Location: Positioned in historic Little Haiti (Lemon City), placing tenants minutes from Wynwood, the Miami Design District, Midtown, and Downtown Miami.
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Exceptional Connectivity: Seamless transit access via major commuter routes including I-95 and Biscayne Boulevard, connecting directly to primary employment centers and lifestyle districts.
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High-Growth Market Potential: Situated in a culturally rich, rapidly evolving neighborhood benefiting from significant ongoing public/private investment and continuous neighborhood redevelopment.
Property Description
5601 NW 1st Avenue presents a rare opportunity to acquire a 91-unit multifamily apartment community in one of Miami's most rapidly evolving urban corridors. The property consists of a mix of studio, one-bedroom, and two-bedroom apartments situated on a substantial 106,187-square-foot (2.21-acre) site with T4-R zoning. The asset encompasses approximately 50,100 adjusted square feet across ten separate two-story residential buildings constructed between 1947 and 1969. The unit interiors feature a combination of central air conditioning systems, providing a diverse housing product that caters to strong workforce and market-rate rental demand. Strategically located near Little Haiti, Wynwood, the Miami Design District, Midtown Miami, and Downtown Miami, the property benefits from exceptional access to major employment centers, public transportation, shopping, dining, and entertainment destinations. The surrounding area continues to experience significant public and private investment, driving long-term growth and increasing demand for quality rental housing. This offering presents investors with a compelling value-add opportunity through operational improvements, rental rate growth, and asset repositioning. Additionally, the property's sizeable land area and favorable zoning provide significant long-term redevelopment potential, making it an attractive acquisition for both cash-flow-focused investors and future developers seeking scale in a supply-constrained Miami market.
Key Property Information
| Listing Status: | Available |
|---|---|
| Price: | $18,750,000 |
| No. of Units: | 91 |
| Year Built: | 1959 |
| Building Size: | 42,452 Sq ft |
| Lot Size: | 2.40 Acres |
| No. of Stories: | 3 |
| Zoning Code: | T4-R |
| Opportunity Zone: | No |
| Price per unit: | $206,044 |
| Parking Spaces: | On-Site |
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