12-Unit Apartment
For Sale
$3,550,000
2900 West Flagler Street, Miami, FL 33135
Occupied multifamily property with private parking, central air, and on-site laundry.
Property Size6,414 SF
Price / SF$553.48
Days on Market782
Property Features for 2900 West Flagler Street
General Information
Standard status
Active
Size
6,414 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Occupancy
100%
Units
Multifamily Units
12
Parking per Unit
1
Additional Details
Gross Income
$263,328
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$30,913
Amenities
laundry
patio
central air conditioning
Building Details
Year Built
1946
Listing Agency:
Gabriela Rodino Group LLC
Listed By:
Gabriela Rodino · License #3375414
(305) 338-5355
Source:
Compass
Added: Aug 29, 2024
Changed: Oct 11
Last Checked: Oct 16 at 11:19AM
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 Gabriela Rodino Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 12-unit multifamily property in Miami contains 6,414 square feet and was built in 1946. Every unit is supported by an active lease, with individual central air-conditioning equipment and separate water and electric meters. The property also includes on-site laundry with recently updated coin-operated machines.
Parking is provided within the property perimeter, with a designated space for each unit. A patio adds shared outdoor space, while the combination of individually metered utilities, unit-level cooling, and existing leases provides a clearly defined operating setup.
Parking is provided within the property perimeter, with a designated space for each unit. A patio adds shared outdoor space, while the combination of individually metered utilities, unit-level cooling, and existing leases provides a clearly defined operating setup.
Key Highlights
- 12‑unit multifamily property with active leases on all units
- 6,414 square feet; built in 1946
- Individual water and electricity meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,488
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,369,760
$2.4M
Cap Rate 7%
$1,692,686
$1.7M
Cap Rate 9%
$1,316,533
$1.3M
Market Conditions
NOI Build-Up for 6,414 SF
Gross rent
$230.9K $36.00/SF
− Vacancy
−$15.5K −$2.41/SF
EGI
$215.4K $33.59/SF
− OpEx
−$96.9K −$15.11/SF
NOI
$118.5K $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%
$2,369,760
Cap Rate 7%
$1,692,686
Cap Rate 9%
$1,316,533
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,488 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.33M
$3.79M – $5.05M
NOI $303,064 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,837
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Occupied multifamily property with private parking, central air, and on-site laundry.
Where is this apartment building located?
The property is located at 2900 West Flagler Street Miami, FL.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: 12‑unit multifamily property with active leases on all units; 6,414 square feet; built in 1946; Individual water and electricity meters
