$2,275,000

River 8 Apartments is an 8-unit multifamily property at 1484 NW 15th Avenue in the heart of Miami’s Health District. Originally built in 1975, the building has been substantially renovated under current ownership. The flat concrete roof was fully replaced in 2024, the 40-Year Recertification is complete, the property has hurricane impact windows throughout, new railings, and a newly finished parking lot. The property is comprised of 100% 2-bedroom, 1-bathroom layouts averaging 819 square feet. Every unit has central air conditioning, and each second-floor unit has its own private balcony. Several units have received interior upgrades such as quartz or granite counter tops, new kitchen cabinets, stainless steel appliances and luxury vinyl plank flooring in select units. Parking is a real advantage at River 8, 17 on-site car spaces plus 2 motorcycle spaces results in more than two spaces per unit. The 2-story building sits on a double lot of 10,800 square feet (0.25 acres) zoned T6-8-R. Under current zoning, the site allows up to 37 units and eight stories to be built. Buyers can hold a stabilized, cash-flowing asset today while controlling a well-located development site for the future. River 8 sits within a ten-minute walk from the Miami Health District, one of the largest concentrations of medical and research employment in the Southeast and support thousands of jobs within blocks of the property.