Renovated 18-Unit Apartment
440 Southwest 5th Avenue Miami, FL 33130
For Sale
$3,849,000
18-unit old Spanish-style building renovated in 2010 with updated roof systems and rental income plus laundry receipts.
Property Size12,825 SF
Price / SF$300.12
Days on Market1066
Property Features for 440 Southwest 5th Avenue
General Information
- Standard status
- Active
- Size
- 12,825 SF
- Property subtype
- Multi-Family Income / Fourplex
Building Details
- Year Built
- 1925
Listing Agency:
Florida Home Sales and Invest.
(305) 815-5933
Listed By:
Ethelbert Bascom · License #0648821
(305) 815-5933
Source:
Compass
Added: Aug 23, 2023
Changed: Jul 20
Last Checked: Jul 23 at 8:34AM
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 Florida Home Sales and Invest.
Investment Insights
Based on property information with market context.
This 18-unit old Spanish-style apartment building was totally renovated in 2010. Roof work was completed in 2006 and again in 2020. Several of the A/C units and appliances have been replaced since the renovation, and the property is also producing rental income along with $3,600 in laundry receipts.
The building is located minutes from downtown Miami and within walking distance of Brickell. Please do not disturb tenants.
A 50-year recertification has been completed as of July 2025. The seller will show the property after a signed letter of intent or contract, with additional details available in the attachments.
The building is located minutes from downtown Miami and within walking distance of Brickell. Please do not disturb tenants.
A 50-year recertification has been completed as of July 2025. The seller will show the property after a signed letter of intent or contract, with additional details available in the attachments.
Key Highlights
- 18‑unit old Spanish‑style building, built in 1925
- Totally renovated in 2010
- Roof redone in 2006 and again in 2020
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 | $461.7k | $36.00 |
| − Vacancy | −$30.9k | −$2.41 |
| EGI | $430.8k | $33.59 |
| − OpEx | −$193.8k | −$15.11 |
| NOI | $236.9k | $18.47 |
12,825 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.38M
$2.96M – $3.95M
NOI $236,921 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.66M
$7.57M – $10.10M
NOI $605,987 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 18-unit old Spanish-style building renovated in 2010 with updated roof systems and rental income plus laundry receipts.
Where is this apartment building located?
The property is located at 440 Southwest 5th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $3,849,000.
What are key features of this property?
This property features: 18‑unit old Spanish‑style building, built in 1925; Totally renovated in 2010; Roof redone in 2006 and again in 2020
