Apartments

Buena Vista Gardens

5601 NW 1st Avenue

Miami

, FL

 

20000000

91

# of Units

5.61%

Cap Rate

$381.27

Price Per Sq. Ft.

$219,780

Price per Unit

Buena Vista Gardens

Investment Overview

Buena Vista Gardens is located in the City of Miami just north of the Design District and south of Little River in the Buena Vista neighborhood which is west of Biscayne Blvd (US-1) and east of Interstate 95. The community is made up of 11 One, Two and three story buildings situated on over 2.44 acres of land which is zoned T4-R. The ages of the buildings range from 1947 to 1969 and there is an attractive mix of studios, one-bedroom, two-bedroom and three-bedroom apartments. Almost all the units have central air-conditioning & heat and the units have individual water heaters. Water, sewer and trash removal is included in the rent and there is on-site laundry and parking for the residents.

The buildings have impact windows and doors, new railings and lush mature landscaping. The majority of the units have been updated with new kitchen cabinets, stone countertops, stainless steel appliances, new flooring, updated bathrooms, light fixtures and interior doors. The buildings have recently been painted and the 40/10 Year recertifications were completed in 2024. Several of the roofs were replaced in the last year and in addition there are several roofs that are made of concrete. The majority of the property’s parking is gated and most of the property is secured with a perimeter fence.

The Buena Vista area is experiencing a regentrification and is in the middle of several established and up in coming development districts. There are many smaller and mid-sized projects that have been completed as well as new redevelopment projects that are currently being built. The Design District and Wynwood are less than a mile south of Buena Vista Gardens and the Magic City Innovation District is about half a mile northeast of the subject. In addition the recently announced $3 billion, 63-acre affordable redevelopment of county land by Swerdlow and partners will run along 54th Street which is two blocks south of the subject.

Buena Vista Gardens is an excellent opportunity for an investor to acquire a substantial community, with the ability to add value while being located in a rapidly improving area.

Investment HIGHLIGHTS

  • 91 units in the City of Miami
  • One, Two and Three-story buildings
  • Excellent location surrounded by multiple development districts
  • Most units have been renovated
  • Central air-conditioning & heat
  • Value Add Opportunity
  • Impact windows and doors
  • Situated on 2.44 +/- acres
  • Some roofs were recently replaced and some are concrete
  • 40/10 Year recertification was completed in 2024

Listed By

Lead Agent

Felipe J. Echarte

Senior Managing Director Investments

felipe.echarte@marcusmillichap.com
Phone: (954) 245-3444
License: FL: SL696115

Evan P. Kristol

Executive Managing Director Investments

evan.kristol@marcusmillichap.com
Phone: (954) 245-3459
License: FL: SL640466

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Contact Us

The Kristol Group

5900 North Andrews Avenue
Suite 100
Fort Lauderdale, FL 33309
954-245-3400
info@kristolgroup.com