Renovation-Needed Duplex with Two
1468 Southwest 2nd Street Miami, FL 33135
1468 Southwest 2nd Street, Miami, FL, 33135
$700,000
For Sale
$700,000
1921-built duplex on a 5,000 SF lot with one 2BR/1BA and one 2BR/2BA unit, zoned T4-L.
Property Size1,856 SF
Lot Size0.11 Acres
Price / SF$377.16
Days on Market56
Property Features for 1468 Southwest 2nd Street
General Information
- Standard status
- Active
- Size
- 1,856 SF
- Lot size
- 0.11 Acres
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1921
Listing agency
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed by
Christopher Carbonell · License #3533720
(786) 748-7373
Source
Compass
Added: May 28 Updated: Jul 21 at 6:52PM Checked: Jul 22 at 11:08AM
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 1921-built duplex offers two separate residential units: a 2-bedroom/1-bath unit and a 2-bedroom/2-bath unit. The property needs renovation, presenting a value-add canvas for an owner looking to restore and improve day-to-day operations. A noted benefit in the remarks includes exemption from 40-year recertification requirements.
The site is zoned T4-L and located at 1468 SW 2 Street in an established urban pocket. The property is described as close to Flagler Street, Calle Ocho, Downtown Miami, Brickell, the Miami River, and the Health District, while positioned away from the heavier traffic and tourism patterns of nearby commercial corridors.
The site is zoned T4-L and located at 1468 SW 2 Street in an established urban pocket. The property is described as close to Flagler Street, Calle Ocho, Downtown Miami, Brickell, the Miami River, and the Health District, while positioned away from the heavier traffic and tourism patterns of nearby commercial corridors.
Key Highlights
- 1921‑built duplex on a 5,000 SF lot with a 2BR/1BA unit and a 2BR/2BA unit
- Zoned T4‑L, offering long‑term development optionality
- Building needs renovation, presenting a value‑add canvas for restoration and rental upside
Local 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 | $56.8k | $30.60 |
| − Vacancy | −$3.6k | −$1.95 |
| EGI | $53.2k | $28.65 |
| − OpEx | −$16.0k | −$8.60 |
| NOI | $37.2k | $20.06 |
1,856 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$531.8K
$465.3K – $620.4K
NOI $37,223 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$489.8K
$428.6K – $571.5K
NOI $34,287 @ 7.0% cap · market cap 4.90%
Theoretical Best
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,697 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - 1921-built duplex on a 5,000 SF lot with one 2BR/1BA and one 2BR/2BA unit, zoned T4-L.
Where is this duplex located?
The property is located at 1468 Southwest 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1921‑built duplex on a 5,000 SF lot with a 2BR/1BA unit and a 2BR/2BA unit; Zoned T4‑L, offering long‑term development optionality; Building needs renovation, presenting a value‑add canvas for restoration and rental upside
