Newly Constructed 6-Unit Apartment
For Sale
$5,400,000
526 Southwest 2nd Street, Miami, FL 33130
Six residences feature three bedrooms and three baths each in Miami’s Little Havana neighborhood.
Property Size9,367 SF
Price / SF$576.49
Days on Market1018
Property Features for 526 Southwest 2nd Street
General Information
Standard status
Active
Size
9,367 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Units
Unit Mix
6 x 3BR/3BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,130
Building Details
Buildings
1
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Mauricio Villasuso · License #3254982
(786) 748-7373
Source:
Compass
Added: Jan 1, 2024
Changed: Oct 13
Last Checked: Oct 12 at 9:54PM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This newly constructed apartment building contains six residences within 9,367 SF. Each unit is configured with three bedrooms and three baths, providing a consistent layout across the property. Certain units are expected to offer an option for two parking spaces.
The property is located at 526 Southwest 2nd Street in Miami’s Little Havana neighborhood, an established area known for its cultural character. The six-unit configuration and uniform three-bedroom, three-bath layouts provide a clearly defined multifamily format.
The property is located at 526 Southwest 2nd Street in Miami’s Little Havana neighborhood, an established area known for its cultural character. The six-unit configuration and uniform three-bedroom, three-bath layouts provide a clearly defined multifamily format.
Key Highlights
- Newly constructed 6‑unit apartment building
- 9,367 SF property with six residential units
- Each unit includes 3 bedrooms and 3 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$173,040
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,460,800
$3.5M
Cap Rate 7%
$2,472,000
$2.5M
Cap Rate 9%
$1,922,667
$1.9M
Market Conditions
NOI Build-Up for 9,367 SF
Gross rent
$337.2K $36.00/SF
− Vacancy
−$22.6K −$2.41/SF
EGI
$314.6K $33.59/SF
− OpEx
−$141.6K −$15.11/SF
NOI
$173.0K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,460,800
Cap Rate 7%
$2,472,000
Cap Rate 9%
$1,922,667
Alternative Uses
Best Use
Apartment 5plus
$2.47M
$2.16M – $2.88M
NOI $173,040 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.32M
$5.53M – $7.38M
NOI $442,595 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
8,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six residences feature three bedrooms and three baths each in Miami’s Little Havana neighborhood.
Where is this apartment building located?
The property is located at 526 Southwest 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Newly constructed 6‑unit apartment building; 9,367 SF property with six residential units; Each unit includes 3 bedrooms and 3 baths
