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Railway Shops Addn 2 Nd Am

$799,000

5028 NW 3rd Ave, Miami, FL 33127

Active
Last Updated: 08/11/2025

1,720 sqft

Building Size

3

Units

Details:
Building Size:    1,720 sqft
Units:    3
Year Built:    1924
Floors:    2
Parking Spots:    5
Gross Leaseable Area:    1,183
Highlights:
  • Lot Features: Less Than 1/4 Acre Lot
  • Documents Available: Appraisal
  • Architectural Style: Detached
  • Cooling: Central Air
  • Heating: Central
  • Flooring: Wood
  • Construction Materials: Concrete Block Construction, Frame
Description:

This well-maintained income-producing triplex is located just minutes from Wynwood, Design District, and Midtown. The property consists of:
• Front Unit: Spacious 2-bedroom, 1-bath, currently rented for $2,700/month
• Rear Unit A: Large 1-bedroom, 1-bath, currently rented for $1,750/month
• Rear Unit B: Large 1-bedroom, 1-bath, currently vacant and ready to lease at market rent
Current Monthly Income: $4,450 (with upside potential once vacant unit is rented)
Pro Forma Income: $6,200+ per month when fully leased at market rates
The building features separate entrances for each unit, plenty of natural light, and a private yard. Situated in a high-demand rental area, this property offers immediate cash flow with room to increase returns.

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