18-Unit Renovated Apartment
New
For Sale
$4,400,000
2425 SW 6th St, Miami, FL 33135
Interior corridors, on-site laundry, and hurricane-impact windows distinguish this residential property.
Property Size10,572 SF
Days on Market3
Property Features for 2425 SW 6th St
General Information
Standard status
Active
Size
10,572 SF
Property subtype
Commercial
Units
Unit Mix
2 x studio, 7 x 1BR/1BA, 9 x 2BR/1BA
Multifamily Units
18
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$53,967
Amenities
on-site laundry
Building Details
Building Size
10,572 SF
Year Built
1925
Year Renovated
2026
Stories
2
Listing Agency:
MSP Group, LLC
Listed By:
Demosthenes Mekras · License #0704134
(786) 208-2684
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 1:54PM
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 MSP Group, LLC
Investment Insights
Based on property information with market context.
This 18-unit apartment building dates to 1925 and received an interior renovation in 2026. Its mix comprises 2 studios at 435 square feet, 7 one-bedroom, one-bath apartments at 550 square feet, and 9 two-bedroom, one-bath apartments at 650 square feet. Unit finishes include quartz counters and backsplashes, white shaker cabinets, stainless steel appliances, luxury vinyl plank floors, and updated bathroom vanities, tile, and fixtures. Ductless mini-split systems serve the apartments, while new electrical panels, hurricane-impact windows, fresh exterior paint, interior corridors, and on-site laundry are additional property features.
At 2425 SW 6th St in Miami, the property is east of SW 27th Avenue and one block from Tamiami Trail (SW 8th Street). Walk Score is 67, Bike Score is 48, and Transit Score is 52.
At 2425 SW 6th St in Miami, the property is east of SW 27th Avenue and one block from Tamiami Trail (SW 8th Street). Walk Score is 67, Bike Score is 48, and Transit Score is 52.
Key Highlights
- 18 apartments: 2 studios, 7 one‑bedroom/one‑bath units, and 9 two‑bedroom/one‑bath units
- Apartment sizes range from 435 to 650 square feet
- Interior renovation completed in 2026; original construction dates to 1925
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
$195,301
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
4.44%
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%
$3,906,020
$3.9M
Cap Rate 7%
$2,790,014
$2.8M
Cap Rate 9%
$2,170,011
$2.2M
Market Conditions
NOI Build-Up for 10,572 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
$380.6K $36.00/SF
− Vacancy
−$25.5K −$2.41/SF
EGI
$355.1K $33.59/SF
− OpEx
−$159.8K −$15.11/SF
NOI
$195.3K $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%
$3,906,020
Cap Rate 7%
$2,790,014
Cap Rate 9%
$2,170,011
Alternative Uses
Best Use
Apartment 5plus
$2.79M
$2.44M – $3.26M
NOI $195,301 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.14M
$6.24M – $8.33M
NOI $499,532 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,901
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
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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 - Interior corridors, on-site laundry, and hurricane-impact windows distinguish this residential property.
Where is this apartment building located?
The property is located at 2425 SW 6th St Miami, FL.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 18 apartments: 2 studios, 7 one‑bedroom/one‑bath units, and 9 two‑bedroom/one‑bath units; Apartment sizes range from 435 to 650 square feet; Interior renovation completed in 2026; original construction dates to 1925
