Multifamily Income Property
2925 Center St Miami, FL 33133
For Sale
$2,500,000
Pending
Package sale includes a 9-unit building, with in-unit laundry, central AC, and separate water meters for each unit.
Property Size4,464 SF
Days on Market2636
Property Features for 2925 Center St
General Information
Standard status
Pending
Size
4,464 SF
Property subtype
General Commercial
Building Details
Year Built
1989
Listing Agency:
Fortune International Realty
(786) 361-8334
Listed By:
Augustine Leo
(786) 361-8334
Source:
Xome
Added: May 12, 2019
Changed: Jul 27
Last Checked: Jul 27 at 9:30PM
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 Fortune International Realty
Investment Insights
Based on property information with market context.
This multifamily income property is offered as a package and sold together with parcel 01-41-16-029-0340 (2828 Coconut) for a total of 9 units. Each unit features 2 bedrooms and 1.5 bathrooms, a washer/dryer, central AC, and a fenced patio. Units are independently metered with a separate water meter for each unit.
Parking is structured at 1 assigned space per unit, plus a total of 5 guest spaces for additional parking. The property is described as being in high demand and consistently occupied, with a rent breakdown available as an attachment. Per the seller’s instructions, tenants are not to be disturbed, and showings are arranged upon acceptance of offers.
Parking is structured at 1 assigned space per unit, plus a total of 5 guest spaces for additional parking. The property is described as being in high demand and consistently occupied, with a rent breakdown available as an attachment. Per the seller’s instructions, tenants are not to be disturbed, and showings are arranged upon acceptance of offers.
Key Highlights
- Package sale includes a total of 9 units at 2828 Coconut (parcel 01‑41‑16‑029‑0340), sold together with another parcel listed in the package
- All units are 2 bed/1.5 bath with washer/dryer, central AC, and a fenced patio
- Separate water meter for each unit
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 | $160.7k | $36.00 |
| − Vacancy | −$10.8k | −$2.41 |
| EGI | $149.9k | $33.59 |
| − OpEx | −$67.5k | −$15.11 |
| NOI | $82.5k | $18.47 |
4,464 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,465 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.01M
$2.64M – $3.52M
NOI $210,926 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Package sale includes a 9-unit building, with in-unit laundry, central AC, and separate water meters for each unit.
Where is this apartment building located?
The property is located at 2925 Center St Miami, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Package sale includes a total of 9 units at 2828 Coconut (parcel 01‑41‑16‑029‑0340), sold together with another parcel listed in the package; All units are 2 bed/1.5 bath with washer/dryer, central AC, and a fenced patio; Separate water meter for each unit
