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1520 NW 1st St

7 Unit Apartment Building $1,650,000 ($235,714/Unit) 6% Cap Rate Miami, FL 33125

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Investment Highlights

Covered land play scenario on a Live-Local/SB112 eligible site for future development
Option to convert to AirBnB, short-term rental, maximize existing density, convert to 11 units with existing structure

Add-value opportunity to renovate building, configure large front building into 3 bedroom units

Executive Summary

Fausto Commercial presents Charwin Apartments: a charming Miami Spanish-style six-plex on a major commercial corridor. It offers two one-bed/one-bath units and four two-bed/one-bath units with spacious living areas. With a 5-year-old roof, this competitively priced property is ideal for renovation. Its historic architecture may qualify for tax abatements, credits, and restoration grants. Zoned T5-L, it's eligible for short-term rentals and the Live-Local program. The location ensures excellent connectivity to major roadways, highways, and nearby retail. With attractive unit sizes, competitive pricing, and a strategic location, this is a great opportunity for investors seeking immediate returns and long-term growth.

1520 NW 1 ST-MV-FLYER

Property Facts

Price	$1,650,000	Apartment Style	Low Rise
Price Per Unit	$235,714	Building Class	C
Sale Type	Investment	Lot Size	0.17 AC
Cap Rate	6%	Building Size	6,035 SF
No. Units	7	No. Stories	2
Property Type	Multifamily	Year Built	1930
Property Subtype	Apartment Multifamily Dormitory	Parking Ratio	0.66/1,000 SF

Price	$1,650,000
Price Per Unit	$235,714
Sale Type	Investment
Cap Rate	6%
No. Units	7
Property Type	Multifamily
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.17 AC
Building Size	6,035 SF
No. Stories	2
Year Built	1930
Parking Ratio	0.66/1,000 SF