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 Market1666
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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
Listed By:
Vicente Rodriguez · License #3289280
(305) 431-2258
Source:
Compass
Added: Mar 25, 2022
Changed: Oct 10
Last Checked: Oct 15 at 1:20AM
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 / Yr
$200,270
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
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
