1 NE 78th St

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1 NE 78th St

Miami, FL 33138
Asking Price
$2.60M
Asset Type
Multifamily
Class
Class B

What's Special

1 NE 78th St is a multifamily property located at the intersection of North Miami Avenue and Northeast 78th Street in the Little River neighborhood. This rapidly evolving district is characterized by a mix of industrial warehouses, creative studios, and emerging retail concepts. The property is situated near the design-focused Ironside complex and the Citadel food hall. It offers convenient access to major thoroughfares, including Biscayne Boulevard and I-95, providing a direct connection to the Miami Design District, Midtown, and Downtown Miami. The location is well-suited for a boutique apartment residential development or a value-add renovation project. Given the neighborhood's transformation into a creative hub, the typical tenant profile likely includes young professionals, artists, and remote workers seeking a central location with a local, urban feel. The asset caters to those looking for proximity to Miami’s core employment centers while desiring the walkable, community-oriented atmosphere of an emerging arts district.

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NOI
$80,000
Cap Rate
3.08%
DSCR
0.52
Underwater
Cash-on-Cash
-9.53%
Monthly Payment
$12,863.381
Annual Cash Flow
$-74,360.577

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