Miami Multifamily for Sale - Wynwood-Design District
DWNTWN Realty Advisors is pleased to exclusively present i5 Wynwood (the "Property"), a 63-unit, 217-bed Class A furnished private-bedroom apartment asset located at 51 NW 28th Street in Miami's Wynwood Arts District. Developed by Related Group and W5 Group and delivered in May 2024, i5 Wynwood is among the first purpose-built co-living assets of its kind in Miami, offering fully furnished private bedrooms with en-suite bathrooms within shared three and four-bedroom apartments. The Property comprises eight residential floors with a penthouse amenity level featuring a leisure pool, sun deck, indoor/outdoor fitness center, coworking lounge, and summer kitchen.
As of May 2026, the Property is ~92% occupied, a strong result for an asset delivered just 24 months prior, and a material outperformance against a Downtown Miami Class A market running 12.8% vacancy. Meaningful NOI upside remains embedded in the rent roll as lease-up concessions burn off, advertising spend normalizes, and the retail component reaches full income contribution upon the fitness operator's rent commencement in January 2027. Beyond the residential income trajectory, i5 Wynwood's 217 individually keyed furnished bedrooms across 63 discrete units, penthouse amenities, and direct street frontage position the Property as a natural candidate for short-term rental, extended-stay, or hybrid hotel conversion as Wynwood's tourism corridor matures. This is a stabilizing asset with a clear path to NOI growth today, and a compelling hospitality opportunity tomorrow, in one of Miami's most land-constrained submarkets.
To visit the Deal Vault, please visit this link: https://68effff93296878bfd34d66d.blocks-app.diy/PublicNDA?listingId=3776338
