2 Locations

DESIRABLE UNIT MIX

186 NW 1st Street boasts a desirable unit mix featuring Studio, 1-Bedroom, and 2-Bedroom floor plans, which satisfies the high demand for work-force housing in the greater Miami real estate market.

ADJACENT VACANT DEVELOPMENT SITE

The offering also includes 194 NW 1st Street, an undeveloped 6,732 square foot (0.15-acre) parcel of land, that offers significant upside through the development of additional multi-family units. Contact the listing agent for more details.

STABLE ASSET WITH RENT GROWTH

186 NW 1st Street offers the opportunity to acquire a multi-family investment property in a growing, urban-infill location. The subject property is ideal for a potential buyer looking for income growth and strong investment returns. The greater Miami area’s outlook remains bright as rental demand continues at a steady rate. The submarket continues to accelerate, and rents are expected to rise over the coming years. Additionally, the adjacent unimproved parcel, 194 NW 1st Street, allows for future development possibilities on the Property.

SUPERIOR LOCATION

The Property is located along NW 1st Street, which is convenient to Flagler Avenue, US Route 1, and Campbell Drive, three of the area’s primary commercial and commuter corridors. The asset offers outstanding access to the area’s primary roadways including US Route 1, the Florida Turnpike, and SR 997, which connect the Property to the major cities in South Florida. The Property is also convenient to Miami Dade College – Homestead Campus, Homestead Air Reserve Base, Homestead-Miami Speedway, and Baptist Health Homestead Hospital. The location is within walking distance of the Homestead municipal offices and offers ease of access to national and local retailers and restaurants, employment hubs, and several municipal bus routes, and the Busway Transit Corridor, offering reliable public transit access, which is critical for workforce housing and occupancy stability.

CAPITAL IMPROVEMENTS

The Property has been well-maintained and has benefited from the following capital improvements: High-Impact hurricane rated windows, Exterior Painting, a new Hot Water Heater, a new Laundry facility for residents, and Perimeter Fencing.

ECONOMIC DRIVERS

Homestead’s economy reflects both its agricultural heritage and its position as a growing suburban hub within Miami-Dade County. Agriculture remains a cornerstone, with farms surrounding the city producing crops such as avocados, mangos, beans, and tropical fruits that are distributed throughout the U.S. and internationally. The region’s fertile soils and subtropical climate make it one of Florida’s most productive farming areas, supporting both large operations and family-owned businesses. Alongside agriculture, construction and real estate development have surged in recent decades, fueled by Homestead’s expanding population and its role as an affordable alternative to Miami for families and professionals.

Retail and service industries also play an important role, with shopping centers, local businesses, and hospitality services catering to residents and the many travelers passing through on their way to the Florida Keys or Everglades National Park. Tourism is bolstered by attractions such as the Homestead-Miami Speedway, Coral Castle, and the city’s proximity to two national parks, making visitor spending an important economic driver. Additionally, Homestead Air Reserve Base remains a significant local employer, providing both military and civilian jobs. With its combination of agriculture, tourism, construction, and service-based industries, Homestead’s economy is diverse and well-positioned for continued growth.

DEMOGRAPHICS

Over 22,300 people live within 1 mile of the Property. An impressive 103,400+ people live within 3-miles of the Property with an average household income of $79,789.