Five-Unit Apartment
2150 Northwest 24th Street Miami, FL 33142
2150 Northwest 24th Street, Miami, FL, 33142
$1,175,000
For Sale
$1,175,000
Five fully rented units feature separate electrical meters and assigned parking for each unit.
Property Size2,655 SF
Price / SF$442.56
Days on Market710
Property Features for 2150 Northwest 24th Street
General Information
- Standard status
- Active
- Size
- 2,655 SF
- Property subtype
- Commercial/Industrial / Fourplex
Building Details
- Year Built
- 1955
Listing agency
Jade International Realty LLC
(305) 421-6341
Listed by
Carla Martinez · License #3280226
(305) 421-6341
Source
Compass
Added: Aug 12, 2024 Updated: Jul 21 at 1:14AM Checked: Jul 22 at 11:08AM
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 Jade International Realty LLC
Investment Insights
Based on property information with market context.
This five-unit apartment building is fully rented and presented as a turnkey income property. Each unit has its own separate electrical meter. The landlord pays for water/sewer and trash removal, and there is 1 parking space assigned for each unit.
The property is located at 2150 Northwest 24th Street in Miami, Florida, described as being in the heart of Allapattah, just minutes from Wynwood and the Miami River.
The building offers a straightforward rental configuration for prospective buyers, with utilities and trash handled by the landlord and parking provided per unit.
The property is located at 2150 Northwest 24th Street in Miami, Florida, described as being in the heart of Allapattah, just minutes from Wynwood and the Miami River.
The building offers a straightforward rental configuration for prospective buyers, with utilities and trash handled by the landlord and parking provided per unit.
Key Highlights
- 5‑unit multifamily building (Year Built 1955) with all units fully rented at market price
- Each unit has separate electrical meters
- Landlord pays water/sewer and trash removal
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 | $95.6k | $36.00 |
| − Vacancy | −$6.4k | −$2.41 |
| EGI | $89.2k | $33.59 |
| − OpEx | −$40.1k | −$15.11 |
| NOI | $49.0k | $18.47 |
2,655 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$700.7K
$613.1K – $817.5K
NOI $49,047 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.79M
$1.57M – $2.09M
NOI $125,450 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five fully rented units feature separate electrical meters and assigned parking for each unit.
Where is this apartment building located?
The property is located at 2150 Northwest 24th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 5‑unit multifamily building (Year Built 1955) with all units fully rented at market price; Each unit has separate electrical meters; Landlord pays water/sewer and trash removal
