Discover an opportunity to acquire a remodeled, income-producing duplex in Miami, Florida. Located at 5517 NW 1st Place, this multifamily property features two residential units, each offering three bedrooms and two full bathrooms.
With both units currently occupied, this property is particularly appealing to investors seeking an established rental asset rather than a vacant property requiring initial tenant placement.
The duplex offers approximately 1,551 square feet of total living space, updated interiors, central air conditioning, and a recently replaced roof completed with a permit.
Two Remodeled Residential Units
The property consists of two separate residential units designed to accommodate independent households.
Unit 1 – Three Bedrooms and Two Bathrooms
The first unit features three bedrooms, two full bathrooms, updated interior finishes, and a functional residential layout.
Unit 2 – Three Bedrooms and Two Bathrooms
The second unit also includes three bedrooms and two full bathrooms, providing a comparable residential arrangement.
Both units have undergone renovations, offering updated living spaces that may help reduce certain immediate maintenance requirements.
The property also includes an on-site coin-operated washer and dryer, providing an additional convenience for residents.
Property Features
- Duplex with two residential units.
- Six bedrooms in total.
- Four full bathrooms.
- Three bedrooms and two bathrooms per unit.
- Approximately 1,551 square feet of living space.
- Single-story construction.
- Remodeled interiors.
- Updated kitchens.
- Modern bathroom finishes.
- Glass shower enclosures.
- Recessed lighting.
- Tile flooring.
- Central air conditioning.
- Central heating.
- New roof installed with a permit.
- On-site coin-operated laundry equipment.
- Four parking spaces.
- Concrete block construction.
- Both units currently tenant-occupied.
Established Rental Income Opportunity
One of the principal advantages of this Miami duplex is its existing rental occupancy.
According to the property listing, both residential units are currently leased, providing an opportunity for an investor to acquire a property with an established tenant base.
The reported monthly rents are:
Unit 1: $2,400 per month
Unit 2: $2,740 per month
Combined Reported Monthly Rental Income: $5,140
Potential Annual Gross Rental Income: $61,680, assuming the reported monthly rents remain unchanged and are collected for twelve consecutive months.
These figures represent gross rental income before property taxes, insurance, maintenance, management, utilities, vacancies, financing expenses, and other ownership costs.
Buyers should review existing leases, rent payment records, operating expenses, and tenant arrangements before purchasing.
Remodeled Property with Recent Improvements
This duplex features improvements intended to support long-term residential use and tenant comfort.
The updated kitchens, bathroom finishes, tile flooring, and recessed lighting contribute to a modern interior appearance.
A new roof completed with a permit is another important feature for investors evaluating the property's physical condition.
Central air conditioning and heating provide additional residential convenience.
These improvements may reduce some near-term renovation needs, although buyers should still complete appropriate inspections and evaluate the condition of all building systems.
Miami Location and Residential Accessibility
Situated in Miami's 33127 ZIP code, this multifamily property is located within an established residential area with access to neighborhood services and commercial destinations.
The location provides connections to major Miami corridors and surrounding employment, retail, and entertainment districts.
Buyers interested in residential income properties in Miami may appreciate the combination of an established neighborhood, two independent rental units, and access to the broader Miami-Dade County market.
Multifamily Real Estate Investment in Miami
For investors searching for a duplex for sale in Miami, 5517 NW 1st Place offers several characteristics worth evaluating.
The property's two-unit configuration allows for rental income from separate households, while its existing occupancy provides an established starting point for investment analysis.
Potential ownership advantages include:
- Two existing residential rental units.
- Current tenant occupancy.
- Reported rental income from both units.
- Updated residential interiors.
- A recently replaced roof.
- On-site laundry equipment.
- Long-term multifamily ownership potential.
The asking price of $683,500 positions this property as an opportunity for buyers evaluating rental real estate in Miami.
Any investment decision should account for verified income, operating expenses, property condition, insurance costs, financing terms, and applicable rental regulations.
Property Price and Purchase Information
Asking Price: $683,500
Address: 5517 NW 1st Place, Miami, FL 33127
Property Type: Duplex / Residential Income
Number of Units: 2
Bedrooms: 6
Bathrooms: 4
Living Area: 1,551 sq ft
Year Built: 1960
Parking: 4 Spaces
Occupancy: Fully Tenant-Occupied
Showing Information: Drive-by viewing only. Please do not disturb the tenants. Interior access and property showings must be coordinated through the authorized representatives.
Contact One West Realty
Interested in purchasing this income-producing duplex or exploring other multifamily properties in Miami?
One West Realty Group, LLC provides real estate assistance to buyers and investors seeking residential, duplex, and multifamily investment opportunities throughout Miami and South Florida.
Our services include property acquisition assistance, purchase negotiations, investment guidance, and support for buyers purchasing real estate from outside the United States.
Florida / USA: +1 (800) 795-0603
Email: Florida@1westrealty.com
Website: https://1westrealty.com/
