Renovated
1406 Northwest 2nd Avenue Florida City, FL 33034
For Sale
$1,250,000
Renovated fourplex with four two-story units, modern finishes, and permitted brand-new roof, positioned for strong rental demand.
Property Size3,767 SF
Price / SF$331.83
Days on Market357
Property Features for 1406 Northwest 2nd Avenue
General Information
- Standard status
- Active
- Size
- 3,767 SF
- Property subtype
- Multi-Family Income / Fourplex
Building Details
- Year Built
- 1956
Listing Agency:
Albo Realty Group Inc.
(786) 660-1111
Listed By:
Jose Revilla-Albo · License #3220517
(786) 660-1111
Source:
Compass
Added: Aug 3, 2025
Changed: Jul 22
Last Checked: Jul 24 at 2:26PM
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 Albo Realty Group Inc.
Investment Insights
Based on property information with market context.
This beautifully renovated fourplex features four spacious two-story units. Each unit offers two bedrooms and 1.5 bathrooms with modern finishes throughout. Three units have been fully renovated, while the fourth has been updated with new wood kitchen cabinets and quartz countertops, along with bathroom and other improvements.
The owner reports that two units include brand-new electrical and plumbing systems. Additional upgrades include a brand-new permitted roof, providing an improved, more dependable exterior and overall building condition.
The property is presented as a turnkey investment opportunity, with the unit interiors already refreshed and multiple key systems updated for reduced near-term capital concerns.
The owner reports that two units include brand-new electrical and plumbing systems. Additional upgrades include a brand-new permitted roof, providing an improved, more dependable exterior and overall building condition.
The property is presented as a turnkey investment opportunity, with the unit interiors already refreshed and multiple key systems updated for reduced near-term capital concerns.
Key Highlights
- Beautifully renovated fourplex built in 1956 with four two‑story units
- Each unit features 2 bedrooms and 1.5 bathrooms with modern finishes
- Three units have been fully renovated; the fourth includes new wood kitchen cabinets and quartz countertops
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.9k | $25.20 |
| − Vacancy | −$5.2k | −$1.39 |
| EGI | $89.7k | $23.81 |
| − OpEx | −$26.9k | −$7.14 |
| NOI | $62.8k | $16.67 |
3,767 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$897.1K
$784.9K – $1.05M
NOI $62,795 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$827.6K
$724.2K – $965.6K
NOI $57,934 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,781 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Renovated fourplex with four two-story units, modern finishes, and permitted brand-new roof, positioned for strong rental demand.
Where is this quadplex located?
The property is located at 1406 Northwest 2nd Avenue Florida City, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Beautifully renovated fourplex built in 1956 with four two‑story units; Each unit features 2 bedrooms and 1.5 bathrooms with modern finishes; Three units have been fully renovated; the fourth includes new wood kitchen cabinets and quartz countertops
