220 NW 25 AVE

220 NW 25th Avenue is a twelve-unit walk-up in Citrus Grove, four blocks off West Flagler and minutes from the Health District, Downtown, and Miami International Airport. All twelve units are fully licensed and operating under a permanent City of Miami Certificate of Use and a current State of Florida apartment license.
In-place rents average $1,569 against an unrenovated submarket median of $1,695 and a renovated median of $2,300. The building is self-managed, carries no management fee, funds no reserves, and has never been marketed on any rental portal. The gap to market is an operating gap, not a capital one. A 15% adjustment to the median takes NOI to $141,575 and the going-in yield to 5.90%.
Density is the moat. Prevailing T3-R zoning across Citrus Grove would not permit twelve units on a lot of this size today, so the surrounding fabric cannot add competing supply. The building was recertified in March 2026 and carries no recorded debt.