Nine-Unit Apartment
For Sale
$2,399,000
1427 NW 2nd Avenue, Florida City, FL
Commercial Sale, Florida City, FL
Property Size5,206 SF
Lot Size0.69 Acres
Price / SF$460.81
Days on Market51
Property Features for 1427 NW 2nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
3000
Parking
6000
Parking features
Guest
Fencing
Fenced
Lot features
Corner Lot, Landscaped, Room for Pool, Sidewalks
Directions
Google Map & Navigation friendly.
Subdivision
2780
Standard status
Active
APN
1678240200550
Size
5,206 SF
Lot size
0.69 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
24 57 38 CORAL BAY MANOR PB 57-40 LOTS 14 & 15 BLK 3 LOT SIZE12000 SQ FT M/L + Vacant Lots 11, 12 & 13 totaling 18,000 SQ FT.
Tax Annual Amount
7606
Legal Description
24 57 38 CORAL BAY MANOR PB 57-40 LOTS 14 & 15 BLK 3 LOT SIZE12000 SQ FT M/L + Vacant Lots 11, 12 & 13 totaling 18,000 SQ FT.
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating), Central
Cooling system
ENERGY STAR Qualified Equipment, Central Air, Window Unit(s), Electric, Humidity Control, Wall/Window Unit(s), Heat Pump
Water source
Public
Building Details
Year built
1961
Floors in Building
1
Number of units
9
Flooring type
Tile
Building materials
Concrete Block - With Stucco, Stucco
Roof type
Shingle, Flat
Buildings
1
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Richard M DiPietro · License #3659026
(347) 693-2995
Added: Sep 16
Changed: Nov 4
Last Checked: Nov 5 at 12:06AM
MLS# B26077350
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5,206-square-foot apartment property contains nine units: two two-bedroom, two-bath units; two two-bedroom, one-bath units; four one-bedroom, one-bath units; and one efficiency. Improvements include a new roof, impact-rated windows and doors, updated 220-volt electrical service, and a full sprinkler system. Interior work includes tile flooring, appliances, and cosmetic updates. Parking is available on the property.
The portfolio comprises four lots, including three platted lots on the same block as the building. Together, the site totals 30,000 square feet, or 0.69 acres, under 3000 Multi-Family General zoning. The property is at 1427 NW 2nd Avenue in Florida City. Public water and sewer are available.
The portfolio comprises four lots, including three platted lots on the same block as the building. Together, the site totals 30,000 square feet, or 0.69 acres, under 3000 Multi-Family General zoning. The property is at 1427 NW 2nd Avenue in Florida City. Public water and sewer are available.
Key Highlights
- Nine apartment units with a mix of bedroom and bathroom configurations, plus one efficiency
- 5,206‑square‑foot building on a 30,000‑square‑foot site totaling 0.69 acres
- Four‑lot portfolio, including three platted lots on the same block
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,065
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,601,300
$1.6M
Cap Rate 7%
$1,143,786
$1.1M
Cap Rate 9%
$889,611
$889.6K
Market Conditions
NOI Build-Up for 5,206 SF
Gross rent
$152.4K $29.28/SF
− Vacancy
−$6.9K −$1.32/SF
EGI
$145.6K $27.96/SF
− OpEx
−$65.5K −$12.58/SF
NOI
$80.1K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,601,300
Cap Rate 7%
$1,143,786
Cap Rate 9%
$889,611
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$1.00M – $1.33M
NOI $80,065 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,886 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
9
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property pairs updated building systems and interiors with three additional platted lots on the same block.
Where is this apartment building located?
The property is located at 1427 NW 2nd Avenue Florida City, FL.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Nine apartment units with a mix of bedroom and bathroom configurations, plus one efficiency; 5,206‑square‑foot building on a 30,000‑square‑foot site totaling 0.69 acres; Four‑lot portfolio, including three platted lots on the same block
