Renovated 12-Unit Apartment
For Sale
$5,500,000
1440 Southwest 42nd Avenue, Miami, FL 33134
Twelve two-bedroom residences feature impact windows and central AC throughout the building.
Property Size10,841 SF
Price / SF$507.33
Days on Market1387
Property Features for 1440 Southwest 42nd Avenue
General Information
Standard status
Active
Size
10,841 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Taxes and HOA fees
Annual Taxes
$58,852
Building Details
Year Built
1947
Listing Agency:
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed By:
Vicente Rodriguez · License #3289280
(786) 748-7373
Source:
Compass
Added: Nov 13, 2022
Changed: Aug 30
Last Checked: Aug 31 at 12:53AM
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 12-unit apartment building contains 10,841 square feet of living area, with each residence offering two bedrooms and one bathroom. The property was built in 1947 and comprehensively renovated in 2019, with impact windows and central AC installed across all units.
The building occupies a 25,466-square-foot lot at 1440 Southwest 42nd Avenue in Miami, Florida 33134. Its unit count, consistent floor plans, and property-wide improvements provide a defined multifamily configuration.
The building occupies a 25,466-square-foot lot at 1440 Southwest 42nd Avenue in Miami, Florida 33134. Its unit count, consistent floor plans, and property-wide improvements provide a defined multifamily configuration.
Key Highlights
- 12 two‑bedroom, one‑bath apartment units
- 10,841 square feet of living area
- 25,466‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$200,270
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,005,400
$4.0M
Cap Rate 7%
$2,861,000
$2.9M
Cap Rate 9%
$2,225,222
$2.2M
Market Conditions
NOI Build-Up for 10,841 SF
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.
Gross rent
$390.3K $36.00/SF
− Vacancy
−$26.1K −$2.41/SF
EGI
$364.1K $33.59/SF
− OpEx
−$163.9K −$15.11/SF
NOI
$200.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,005,400
Cap Rate 7%
$2,861,000
Cap Rate 9%
$2,225,222
Alternative Uses
Best Use
Apartment 5plus
$2.86M
$2.50M – $3.34M
NOI $200,270 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.32M
$6.40M – $8.54M
NOI $512,242 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,579
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve two-bedroom residences feature impact windows and central AC throughout the building.
Where is this apartment building located?
The property is located at 1440 Southwest 42nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 12 two‑bedroom, one‑bath apartment units; 10,841 square feet of living area; 25,466‑square‑foot lot
