16-Unit Apartment
For Sale
$2,850,000
421 NW 12th St, Florida City, FL 33034
Two fenced multifamily buildings offer updated interiors, new mini-split air-conditioning systems, and camera wiring.
Property Size7,944 SF
Days on Market988
Property Features for 421 NW 12th St
General Information
Standard status
Active
Size
7,944 SF
Property subtype
Income/MultiFamily
Units
Unit Mix
8 x 2BR/1BA, 8 x 1BR/1BA
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$18,588
Building Details
Building Size
7,944 SF
Year Built
1959
Buildings
2
Listing Agency:
Luxe Properties
Listed By:
Christian Fojon · License #3554058
(305) 799-0374
Source:
Relinkre
Added: Feb 6, 2024
Changed: Oct 16
Last Checked: Oct 19 at 2:17PM
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 Luxe Properties
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Investment Insights
Based on property information with market context.
This multifamily offering combines the apartment buildings at 421 NW 12th Street and 441 NW 12th Street in Florida City. Together, the properties contain 7,800 square feet and 16 units, configured as eight two-bedroom, one-bath apartments and eight one-bedroom, one-bath apartments. The buildings date to 1959, with 13 units fully remodeled and three partly remodeled.
Property improvements include new mini-split air-conditioning units throughout, sealed roofs completed in 2023, fencing around both buildings, and camera wiring at each property. The buildings are scheduled to be painted. Additional multifamily buildings and townhomes are described as surrounding the properties, providing a residential setting for the apartment offering.
Property improvements include new mini-split air-conditioning units throughout, sealed roofs completed in 2023, fencing around both buildings, and camera wiring at each property. The buildings are scheduled to be painted. Additional multifamily buildings and townhomes are described as surrounding the properties, providing a residential setting for the apartment offering.
Key Highlights
- Two apartment buildings totaling 7,800 SF with 16 units
- Unit mix includes 8 two‑bedroom, one‑bath units and 8 one‑bedroom, one‑bath units
- 13 units fully remodeled; 3 partly remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,173
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,443,460
$2.4M
Cap Rate 7%
$1,745,329
$1.7M
Cap Rate 9%
$1,357,478
$1.4M
Market Conditions
NOI Build-Up for 7,944 SF
Gross rent
$232.6K $29.28/SF
− Vacancy
−$10.5K −$1.32/SF
EGI
$222.1K $27.96/SF
− OpEx
−$100.0K −$12.58/SF
NOI
$122.2K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,443,460
Cap Rate 7%
$1,745,329
Cap Rate 9%
$1,357,478
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,173 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.03M
$3.53M – $4.70M
NOI $282,123 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two fenced multifamily buildings offer updated interiors, new mini-split air-conditioning systems, and camera wiring.
Where is this apartment building located?
The property is located at 421 NW 12th St Florida City, FL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Two apartment buildings totaling 7,800 SF with 16 units; Unit mix includes 8 two‑bedroom, one‑bath units and 8 one‑bedroom, one‑bath units; 13 units fully remodeled; 3 partly remodeled
