Fully Renovated 8-Unit
For Sale
$2,250,000
1132 NW 3rd St, Miami, FL 33128
MULTI_FAMILY - Other - Miami, FL
Property Size4,948 SF
Price / SF$454.73
Days on Market21
Property Features for 1132 NW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Subdivision
LAWRENCE ESTATE LAND CO
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-02-005-1760
Size
4,948 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LAWRENCE ESTATE LAND COS SUB PB 2-46 LOT 5 BLK 10 LOT SIZE 7500 SQUARE FEET OR 19034-2675 03 2000 4
Tax Annual Amount
25000
Legal Description
LAWRENCE ESTATE LAND COS SUB PB 2-46 LOT 5 BLK 10 LOT SIZE 7500 SQUARE FEET OR 19034-2675 03 2000 4
Utilities
Sewer type
Public Sewer
Cooling system
Electric
Building Details
Year built
1925
Floors in Building
2
Flooring type
Laminate
Building materials
Block
Roof type
Flat
Architectural style
Other
Listing Agency:
The Agency Florida LLC
(305) 203-5085
Listed By:
Regulo Pachano · License #3275079
(786) 239-8013
Added: Jul 17
Changed: Jul 18
Last Checked: Aug 6 at 1:06AM
MLS# A12009666
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey 8-unit multifamily property includes a unit mix of seven 1BR/1BA units and one 2BR/1BA unit. The interior and exterior underwent complete renovation in 2022. Each unit features quartz countertops, stainless steel appliances, modern two-tone cabinetry, porcelain tile bathrooms, and LVP flooring throughout.
The property is located in Miami, FL 33128, in Miami-Dade County. Public remarks note that it has passed Miami-Dade’s mandatory 40-year recertification in 2025.
With all units updated and the recertification completed, the building presents a straightforward, stabilized residential income configuration for an owner seeking an income property with recently completed improvements and consistent unit finishes across the asset.
The property is located in Miami, FL 33128, in Miami-Dade County. Public remarks note that it has passed Miami-Dade’s mandatory 40-year recertification in 2025.
With all units updated and the recertification completed, the building presents a straightforward, stabilized residential income configuration for an owner seeking an income property with recently completed improvements and consistent unit finishes across the asset.
Key Highlights
- Fully renovated 8‑unit multifamily built in 1925 with block construction
- Unit mix: 7x 1BR/1BA and 1x 2BR/1BA
- 2022 complete interior and exterior renovation, with Miami‑Dade 40‑year recertification passed in 2025
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $178.1k | $36.00 |
| − Vacancy | −$11.9k | −$2.41 |
| EGI | $166.2k | $33.59 |
| − OpEx | −$74.8k | −$15.11 |
| NOI | $91.4k | $18.47 |
4,948 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.14M – $1.52M
NOI $91,406 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.34M
$2.92M – $3.90M
NOI $233,795 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 33128, FL
8,213
Population
4,533
Households
1.8
Avg Household Size
41
Median Age
22%
College-Educated
66%
High-School Grad
0.4 sq mi
ZIP Area
20,533
Density / Sq Mi
$36,308
Median Household Income
$32,082
Median Earnings
$1,316
Median Rent
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 8-unit multifamily with a 7/1 1BR and 2BR mix, renovated in 2022 with updated finishes.
Where is this apartment building located?
The property is located at 1132 NW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Fully renovated 8‑unit multifamily built in 1925 with block construction; Unit mix: 7x 1BR/1BA and 1x 2BR/1BA; 2022 complete interior and exterior renovation, with Miami‑Dade 40‑year recertification passed in 2025
