8270 NE 1st Pl, Miami FL 33138

Description of 8270 NE 1st Pl, Miami FL 33138

Offering a beautifully re-imagined and absolutely turn-key 4-plex + single-family residence delivered renovated and designer-furnished, this is the ideal play for long-term multifamily investors seeking an operation-ready rental compound with re-development upside for a commercial or mixed-use project, or adaptive re-use program in the near-term ahead of redevelopment. Already commanding premium market rents due to the high quality finishes, fully-furnished units and spacious, even luxurious grounds and desirably situated in direct walkable adjacency to The Citadel, dining and shopping, this property provides investors a rare set of conditions that secure rentability in the long-term compared to aging existing market rental inventory in the Little River neighborhood. The fourplex features three (3) 2-bedroom / 1-bath units and one sizable (1) 1-BR / 1-Bath unit, each showcasing its own unique design theme, and beautifully restored with high-end finishes and meticulous design details. Historically operated as short-term rentals, this meticulously maintained two-parcel rental compound is half-way to stabilization with two of four 4-plex units newly leased at $2,900/month—with straightforward lease-up remaining on the SFR and final unit. One unit in the fourplex has not been renovated as it is occupied by long-term annual tenant. With zero additional CapX requirements needed, the property is well on its way from a pro-forma, to an in-place 5.8% CAP or better -- an attractive return for covered land in a premiere location considering the amount of improvements compared to the lot size. Plus -- underlying T5-O commercial zoning provides rare optionality for maximizing investment potential and is suitable for: --Multi-family investors & short-term rental operators seeking a plug-and-play rental hub in the most walkable pocket to F&B and retail --Specialty-use or institutional operators (school, wellness, design collective, etc.) seeking beautiful grounds and multiple structures --Bullish covered-land buyers holding for future redevelopment—by-right potential for 19 units / 5 stories, or up to 292 units / 8–12 stories under Live Local Act incentives -Proven Path to a +/- 6% CAP return with zero capX requirements -Investor-friendly, with the single-family residence currently vacant, investment-minded buyer may opt to live in the house (or utilize it as an office location) and rent the fourplex, allowing for easy on-site management and opening the door for better financing options -Building recertifications up-to-date for hassle-free investment -Turn-Key Income Producer: Fully renovated with cohesive, high-end designer-curated interiors that command premium rates—ideal for immediate operation as Airbnb, boutique hospitality, or long-term rentals. -Operational Versatility: Dual-structure configuration allows income diversification via office or creative use within the SFR alongside income generation from the modernized 4-plex, supporting multiple investment approaches. -Prime Walkable Location: Steps from The Citadel–the culinary anchor of Little River– and surrounded by cafés, cultural establishments, art studios, chef-owned restaurants, and neighborhood retail. -Flexible Zoning & Future Development Upside: With T5-O zoning, Opportunity Zone benefits, and Live Local Act eligibility, the assemblage offers exceptional flexibility for future redevelopment and long-term value momentum.

Property Details for 8270 NE 1st Pl, Miami FL 33138

Pool Private

No

Building Information for 8270 NE 1st Pl, Miami FL 33138

Building Area Total

3271

Building Area Units

Square Feet

Association

No

Property Information for 8270 NE 1st Pl, Miami FL 33138

Lot Size Square Feet

12,750

Waterfront

No

View

No

New Construction

No

Public Records for 8270 NE 1st Pl, Miami FL 33138

Parcel Number

01-31-12-008-0410

Tax Annual Amount

$14,371

Tax Legal Description

12 53 41 ROYAL PALM GARDENS PB 7-71 S110FT LOTS 12 & 13 LESS E15FT BLK 5 LOT SIZE 9350 SQUARE FEET OR 10966-1394 1280 6 COC 25969-1003 09 20

Zoning

6101

County Or Parish

Miami-Dade County

Location