98 NW 47th Ave
eXp Commercial is pleased to present 98 NW 47th Ave, a 5-unit apartment building in Miami's Flagami neighborhood. Built in 1953, the property is centrally located, providing easy access to major employers and attractions. Being minutes away from the airport is a significant advantage for both frequent travelers and weekend visitors. The T4-L zoning designation is particularly advantageous for investors, as it allows for short-term rental operations. This flexibility enables investors to capitalize on Miami's thriving tourism industry, potentially increasing rental income. With its manageable size, this 5-unit complex, consisting of studios, allows for hands-on management and presents opportunities for value-add improvements to enhance rental income and property value. Ideal for those seeking an entry-level multifamily investment or looking to expand their portfolio, this property presents a unique opportunity in one of Miami's strongest real estate markets.
Highlights:
• Potential for Short-term Rentals
• 2.4 Miles from Miami International Airport
• Minutes from SR 836 Expressway connecting you to Downtown, Brickell, Wynwood
- Property type
- Multifamily
- Building size
- 1,818 SF GBA
- Lot size
- 0.1148 acres
- Year built
- 1953
- Floors
- 1
- Zoning
- T4-L
- Cap rate
- 6.35%
- NOI
- $69,840