12-Unit Apartment
For Sale
$3,950,000
111 Southwest 18th Avenue, Miami, FL 33135
All units feature two bedrooms and one bathroom, with the building recently passing its 50-year recertification.
Property Size9,615 SF
Price / SF$410.82
Days on Market378
Property Features for 111 Southwest 18th Avenue
General Information
Standard status
Active
Size
9,615 SF
Property subtype
Multi-Family Income / Fourplex
Taxes and HOA fees
Annual Taxes
$47,132
Building Details
Year Built
1962
Listing Agency:
WERC Realty, LLC
Listed By:
David Olivares · License #3289945
(305) 794-2494
Source:
Compass
Added: Oct 9, 2025
Changed: Oct 14
Last Checked: Oct 20 at 11:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WERC Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Miami apartment property contains 12 units, each configured with two bedrooms and one bathroom. The building provides 9,615 square feet of space and was constructed in 1962.
The property recently passed its 50-year recertification, supporting continued evaluation of the building’s existing condition and compliance status. It is located at 111 Southwest 18th Avenue in Miami, Florida 33135.
The property recently passed its 50-year recertification, supporting continued evaluation of the building’s existing condition and compliance status. It is located at 111 Southwest 18th Avenue in Miami, Florida 33135.
Key Highlights
- 12‑unit apartment building
- All 12 units are configured with 2 bedrooms and 1 bathroom
- 9,615 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$177,622
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,552,440
$3.6M
Cap Rate 7%
$2,537,457
$2.5M
Cap Rate 9%
$1,973,578
$2.0M
Market Conditions
NOI Build-Up for 9,615 SF
Gross rent
$346.1K $36.00/SF
− Vacancy
−$23.2K −$2.41/SF
EGI
$322.9K $33.59/SF
− OpEx
−$145.3K −$15.11/SF
NOI
$177.6K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,552,440
Cap Rate 7%
$2,537,457
Cap Rate 9%
$1,973,578
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,622 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.49M
$5.68M – $7.57M
NOI $454,313 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,645
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - All units feature two bedrooms and one bathroom, with the building recently passing its 50-year recertification.
Where is this apartment building located?
The property is located at 111 Southwest 18th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 12‑unit apartment building; All 12 units are configured with 2 bedrooms and 1 bathroom; 9,615 square feet of building area
