Miami Multifamily Investment
1611 Northwest 19th Street Miami, FL 33125
1611 Northwest 19th Street, Miami, FL, 33125
$3,600,000
For Sale
$3,600,000
14-unit building in Miami's Civic Center neighborhood.
Property Size10,602 SF
Lot Size0.41 Acres
Price / SF$339.56
Days on Market1475
Property Features for 1611 Northwest 19th Street
General Information
- Standard status
- Active
- Size
- 10,602 SF
- Lot size
- 0.41 Acres
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1972
Listing Agency
Guillen and Associates Real Estate Consultants, In
(786) 277-6968
Listed by
Yolymiler Diaz Guillen · License #3288184
(786) 277-6968
Source
Compass
Added: Jul 6, 2022 Checked: Jul 19 at 4:40 am
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 Guillen and Associates Real Estate Consultants, In
Investment Insights
Based on property information with market context.
Located in the Civic Center neighborhood of Miami Dade, this property presents an investment opportunity. The 14-unit building is situated on a 17,875 sq ft lot and comprises a total building size of 10,602 sq ft. The unit mix includes five 2-bedroom, 1-bathroom units and nine 1-bedroom, 1-bathroom units. The property is zoned T-6-8-R, suggesting potential for future development. The location offers proximity to hospitals, government centers, and public transportation.
Key Highlights
- Prime location in Miami Dade's Civic Center, near hospitals, government centers, and public transportation.
- Significant development potential due to T‑6‑8‑R zoning.
- Substantial 17,875 sq ft lot with a 10,602 sq ft building.
Local 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 | $381.7k | $36.00 |
| − Vacancy | −$25.6k | −$2.41 |
| EGI | $356.1k | $33.59 |
| − OpEx | −$160.2k | −$15.11 |
| NOI | $195.9k | $18.47 |
10,602 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.80M
$2.45M – $3.26M
NOI $195,855 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.16M
$6.26M – $8.35M
NOI $500,949 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 14-unit building in Miami's Civic Center neighborhood.
Where is this apartment building located?
The property is located at 1611 Northwest 19th Street Miami, FL.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Prime location in Miami Dade's Civic Center, near hospitals, government centers, and public transportation.; Significant development potential due to T‑6‑8‑R zoning.; Substantial 17,875 sq ft lot with a 10,602 sq ft building.
