Little Haiti Miami area? Location. 8 unit deal

Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes

Hi I was wondering if anyone knows the little Haiti area

I have the opportunity to buy a $1.4-1.5m 8 unit property but I don’t know the area that we’ll and have never been

Any locals know this area well or if this is a good deal at $181k per unit. There’s not that many comps and I don’t know the area and heard mixed reviews

1 Reply

39 views

Most Popular Reply

Isabela Faria-Newell

Real Estate Agent · Ft. Lauderdale & Miami, FL · Member since 2015 · 46 posts · 63 votes

My question to you is - What are you planning on doing with this investment?
Are you planning to run it as a STR or a flip and so forth?
Depending on your investment metric, I would give you different advice, but in general my thought process for you would be:
1. Definitely make sure someone (your real estate agent) goes out there to see the street the complex it is in. Although Miami realtors like myself know the streets, they change quickly in Miami. I lived in Miami for 8 years and Lil Haiti is growing but it's still considered an "up and coming" not great neighborhood. You have to be careful what street you invest there. I think that depending on your investment strategy, it can work.

3 Reply

See this reply in the discussion

24 Replies

Jump to latestLatest

Sort by

Raymond J. RodriguesBusiness Member
Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
4y
Little Haiti has developed alot over the years. Maybe @Malgorzata Sadowska can give some insight?
[email protected]619-456-8311
Helm Mortgage Corp.5127 Reviews
Website View Page
2 Reply
Branden Rivero
Investor · Miami, FL · Member since 2016 · 198 posts · 65 votes
4y
its definitely going through gentrification, I live near by in the edgewater neighborhood. I wouldn't mind checking it out for you I want to make sure you are paying a good or fair price. 180 seems a little steep but as we know it depends on size/rents
2 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
Originally posted by @Branden Rivero:
its definitely going through gentrification, I live near by in the edgewater neighborhood. I wouldn't mind checking it out for you I want to make sure you are paying a good or fair price. 180 seems a little steep but as we know it depends on size/rents

Yeah I kind of felt it was steep they're very small sf units but they're x4 2/1s and x4 1/1s. It only has 6 parking spots. I haven't invested in Miami, only Broward so I wasn't too familiar.
It's sort of hard to project rents but I'm thinking of buying this because I have a limited timeframe to buy and there's not as many options in Broward. I'm sort of banking on potential rents rising and appreciation beign close to Design district, wynwood etc Plus they're buildig some sort of Innovation center there. I know these are all sort of speculative when it comes to these things though and often appreciation in an area can take longer (and sometimes shorter) depending on too many uncontrollable factors...
What do rents typically go for on 2/1s and 1/1s (small)?
Is Little River comparable?
0 Reply
Branden Rivero
Investor · Miami, FL · Member since 2016 · 198 posts · 65 votes
4y
Depends the street to be honest, but yes I would use little river as a comparison. Start high and work your way down from there
1 Reply
Edgar Z Whelan
Real Estate Broker · Hollywood, FL · Member since 2019 · 20 posts · 9 votes
4y
I am somewhat familiar with that area. 181K per door is steep. The only reason that little Haiti is rising in value is because everything else has appreciated ten fold. I would have someone drive by the area of your possible investment at different times after dark and on weekends to see what is going down. I would not be surprise to see street walkers and drug dealing. The area is definitely getting better but not sure its there yet. Also check the crime stats. There could be areas of Little Hiati that have become gentrified and are good investment. But you drive through a rough patch when you get off I-95 exit.
1 Reply
Malgorzata SadowskaPro Member
Real Estate Agent · Miami, FL · Member since 2017 · 506 posts · 205 votes
4y
What's the condition of the building? Each unit? Rent ready? Which part of Little Haiti? In general, great area to invest (due to proximity you already mentioned & it's one of the highest points in the county). Where's the building on their 40 year / 50 (etc.) (re)certification process?
Rental & sale comps will depend on all that & some additional factors.
2 Reply
Isabela Faria-Newell
Real Estate Agent · Ft. Lauderdale & Miami, FL · Member since 2015 · 46 posts · 63 votes
4y
My question to you is - What are you planning on doing with this investment?
Are you planning to run it as a STR or a flip and so forth?
Depending on your investment metric, I would give you different advice, but in general my thought process for you would be:
1. Definitely make sure someone (your real estate agent) goes out there to see the street the complex it is in. Although Miami realtors like myself know the streets, they change quickly in Miami. I lived in Miami for 8 years and Lil Haiti is growing but it's still considered an "up and coming" not great neighborhood. You have to be careful what street you invest there. I think that depending on your investment strategy, it can work.
3 Reply
Sebastian Giraldo
REALTOR, Investor, and Rehab Expert · Miami Beach, FL · Member since 2015 · 196 posts · 74 votes
4y
Little Haiti is definitely a great area. Also depends exactly what avenue and how close you are to Biscayne Blvd or if its on NW 2 ave and at what height of it? The closer South to Wynwood the better. I have a friend who is only buying along that avenue. Also important to keep in mind the massive $1.3 Bil development Magic city innovation district.
1 Reply
Daniel SmythPro Member
Rental Property Investor · Rockford, IL · Member since 2019 · 471 posts · 342 votes
4y
@Will F.
All I can think about is the flooding with most every hurricane season.
You need someone that knows that area fully.
Look at area pictures during the last few years of high water.
Problem with South Florida is not so much with hurricane water, but actual draining of water when it rains a bit too much.
Good luck.
[email protected]
0 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
Originally posted by @Edgar Z Whelan:
I am somewhat familiar with that area. 181K per door is steep. The only reason that little Haiti is rising in value is because everything else has appreciated ten fold. I would have someone drive by the area of your possible investment at different times after dark and on weekends to see what is going down. I would not be surprise to see street walkers and drug dealing. The area is definitely getting better but not sure its there yet. Also check the crime stats. There could be areas of Little Hiati that have become gentrified and are good investment. But you drive through a rough patch when you get off I-95 exit.
That's good to know. I've seen rents for 1/1 at $1450 and 2/1 at $1750 which is higher than what i've been looking at in Hollywood/ Fort lauderdale. But the area definitely seems to need some improvement.
The area i'm looking in is between Biscayne and Miami Blvd.
I had heard east of Miami blvd is much better as if you go more west you hit liberty city and the highway?

0 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
Originally posted by @Malgorzata Sadowska:
What's the condition of the building? Each unit? Rent ready? Which part of Little Haiti? In general, great area to invest (due to proximity you already mentioned & it's one of the highest points in the county). Where's the building on their 40 year / 50 (etc.) (re)certification process?
Rental & sale comps will depend on all that & some additional factors.

It's East of Miami blvd but west of Biscayne. It doesn't look taht clean but everything I see listed is over $200k a unit and many go for $250-300k/u
This one is $180k a unit and is 2/1 and 1/1s x8 u.
I'm not sure about the 40 yr
What do you mean that it's one of the highest points in the county?

0 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
Originally posted by @Isabela Faria-Newell:
My question to you is - What are you planning on doing with this investment?
Are you planning to run it as a STR or a flip and so forth?
Depending on your investment metric, I would give you different advice, but in general my thought process for you would be:
1. Definitely make sure someone (your real estate agent) goes out there to see the street the complex it is in. Although Miami realtors like myself know the streets, they change quickly in Miami. I lived in Miami for 8 years and Lil Haiti is growing but it's still considered an "up and coming" not great neighborhood. You have to be careful what street you invest there. I think that depending on your investment strategy, it can work.

I just plan to hold for LTR. I don't think little haiti or this property is quite good enough to STR yet, maybe in 3-5 years if the area gets hotter. But soemtimes 'area appreciation' takes longer
I have a feeling this neighborhood is not great but I've done a lot of investing in Long Beach in LA and seen areas improve over time as hipsters, artists and young people start to fill in urban blight. Could be very risky i suppose, but i also haven't found anything in my search and have to close soon.
0 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
Originally posted by @Sebastian Giraldo:
  Little Haiti is definitely a great area. Also depends exactly what avenue and how close you are to Biscayne Blvd or if its on NW 2 ave and at what height of it? The closer South to Wynwood the better. I have a friend who is only buying along that avenue. Also important to keep in mind the massive $1.3 Bil development Magic city innovation district.

It's about 2.5 blocks to biscayne. It's a little closer to Miami blvd, but in between Biscayne/Miami blvd.
Seems sort of nice but also the street seems a little gritty and has some gritty elements to the neighborhood
I'm coming from markets that are $250-350k for C+ areas in southern california so to me $180k is not bad.
I feel like i'm overpaying though not geting a great deal. unless the area continues to improve and the jobs/ population keep growing... who knows?
1 Reply
Edgar Z Whelan
Real Estate Broker · Hollywood, FL · Member since 2019 · 20 posts · 9 votes
4y
Yes East of Biscayne Blvd. its a lot better and progress is moving west towards Miami Avenue. But don't be fooled East of Biscayne has always been more expensive and better neighborhood since the beginning of the city. Better housing stock. It went into decline but it has bounce back. Is closer to the intercoastal and water ways. And It really can't be compared to Little Haiti and Liberty City even though they are very close. I am not sure where this 8 plex is located. But I am familiar looking at small multifamily in that area years ago with a New Jersey investor looking at those units at 10K per door. (180K Wow) Very cheap concrete construction and deferred maintenance. Just make sure you get a very good property inspection. Rents might be a little misleading because there are a lot of people desperate to find rentals in this market and they will pay anything to just get a place. How do you intent to manage this property? In that neighborhood. Really do your due diligence. There may not be many multi family in Hollywood available but a lot of investors are buying duplexes and single family homes in the Hollywood area. I have been buying investment properties in Jacksonville recently since prices are more affordable. I believe that you may find small multi family units at better prices in that market.
1 Reply
Sebastian Giraldo
REALTOR, Investor, and Rehab Expert · Miami Beach, FL · Member since 2015 · 196 posts · 74 votes
4y
@Will F. Snatch it up! The growth headed to the area and Miami as a whole in the next 3 years will be unprecedented. If its not right for you at this moment I have several contacts that may be interested in a deal like this. Let's connect!
1 Reply
Jean H.
Rental Property Investor · Miami, FL · Member since 2016 · 173 posts · 206 votes
4y
@Will F. When @Malgorzata Sadowska talks about Little Haiti being "one of the highest points in the county" she's referring to its elevation. Little Haiti as an investment area started trending after Hurricane Irma because it was one of the few places that didn't flood because it's on higher ground than the rest of the county (one perk of this is that you're not going to have to pay flood insurance, which, as @Daniel Smyth mentioned is a concern for most of Miami-Dade County).
Little Haiti is also one of the closest of the cheap neighborhoods near the ever-more-popular Wynwood and the Design District. So definitely up-and coming. The only thing I would really look into is the state of the building itself. The housing stock there is pretty dilapidated and probably wasn't well-maintained for the most part. If it was renovated, great! but check their work. If it's between N Miami and US1, I'd buy. Would make a great Airbnb.
2 Reply
Wesley WhiteheadPro Member
Rental Property Investor · Depends on where my employer sends me · Member since 2018 · 171 posts · 142 votes
4y
Quote from @Raymond J. Rodrigues:

Little Haiti has developed alot over the years. Maybe @Malgorzata Sadowska can give some insight?

I second your statement Raymond. Maggie is awesome!
2 Reply
Wesley WhiteheadPro Member
Rental Property Investor · Depends on where my employer sends me · Member since 2018 · 171 posts · 142 votes
4y
Quote from @Jean H.:

@Will F. When @Malgorzata Sadowska talks about Little Haiti being "one of the highest points in the county" she's referring to its elevation. Little Haiti as an investment area started trending after Hurricane Irma because it was one of the few places that didn't flood because it's on higher ground than the rest of the county (one perk of this is that you're not going to have to pay flood insurance, which, as @Daniel Smyth mentioned is a concern for most of Miami-Dade County).
Little Haiti is also one of the closest of the cheap neighborhoods near the ever-more-popular Wynwood and the Design District. So definitely up-and coming. The only thing I would really look into is the state of the building itself. The housing stock there is pretty dilapidated and probably wasn't well-maintained for the most part. If it was renovated, great! but check their work. If it's between N Miami and US1, I'd buy. Would make a great Airbnb.

Great insight on location Jean. I bought a place in Upper East Side and visited a tons of places in Little Haiti before and after I bought my place (plus my job in law enforcement took me there sometimes). Anything West of N. Miami is going to be a really rough shape. There is not the crime that you would see just west in Liberty City but don't be surprised if you see many folks living paycheck to paycheck. If this place is South of 62 St and East of NE 2nd Ave, then you are golden as that place has really come along in the past couple of years and in my opinion the best has yet to come.
1 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
Quote from @Jean H.:

@Will F. When @Malgorzata Sadowska talks about Little Haiti being "one of the highest points in the county" she's referring to its elevation. Little Haiti as an investment area started trending after Hurricane Irma because it was one of the few places that didn't flood because it's on higher ground than the rest of the county (one perk of this is that you're not going to have to pay flood insurance, which, as @Daniel Smyth mentioned is a concern for most of Miami-Dade County).
Little Haiti is also one of the closest of the cheap neighborhoods near the ever-more-popular Wynwood and the Design District. So definitely up-and coming. The only thing I would really look into is the state of the building itself. The housing stock there is pretty dilapidated and probably wasn't well-maintained for the most part. If it was renovated, great! but check their work. If it's between N Miami and US1, I'd buy. Would make a great Airbnb.

Thanks for the info. This thread has been great and you all have been very helpful.
My $1.4 m 180k/ u offer wasn't accepted on the little haiti 8 u. It also was tiny apartments so it didn't seem to make much sense price/sf.
I'm now in some offers in N Miami, and Hollywood FL. Probably not as "Hot" or cool of an area as Little haiti, but it seems more suburban feel and 'safer' for renters.
Do Miami locals see many searching for housing in N Miami or even more north to Hollywood if they're priced out of nice residential neighborhoods in Miami?
1 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
How do you guys like Allapatah just west of Wynwood over the freeway
Is Allapatah compareable to Little Haiti? Both seem like kind of gritty areas that are emerging, but which do you think has more potential? I drove streets and both have a little gritty areas a lot of trash in the streets, but i also see some developers coming in. But a lot of housing looks reallly run down as well. So mixed
0 Reply
Malgorzata SadowskaPro Member
Real Estate Agent · Miami, FL · Member since 2017 · 506 posts · 205 votes
4y
@Will F. Hollywood is a great bet.
0 Reply
Will F.
OP
Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
4y
My hollywood property fell out of escrow looking for another
0 Reply
Sebastian Giraldo
REALTOR, Investor, and Rehab Expert · Miami Beach, FL · Member since 2015 · 196 posts · 74 votes
3y
I just closed in 3-plex in Hollywood. 7 min Walking distance to Twin Peaks on. Hollywood Blvd. :)
0 Reply
Joel Case
Rental Property Investor · Ocean Springs, MS · Member since 2022 · 349 posts · 301 votes
3y
I know Little Haiti from the TV Show The First 48. Glad to hear it has improved.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.