Renovation-Needed Duplex with Two
For Sale
$595,000
1468 SW 2nd Street, Miami, FL 33135
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
Days on Market125
Property Features for 1468 SW 2nd Street
General Information
Standard status
Active
Size
1,856 SF
Lot size
0.11 Acres
Property subtype
Duplex
Zoning
T4-L
Site & Location
Neighborhood
Latin Quarter
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,388
Building Details
Building Size
1,856 SF
Year Built
1921
Tenancy
Multi
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Christopher Carbonell · License #3533720
(305) 753-3295
Source:
Silverleafrealtygroup
Added: Jun 23
Changed: Oct 13
Last Checked: Oct 23 at 3:56PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,223
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,460
$744.5K
Cap Rate 7%
$531,757
$531.8K
Cap Rate 9%
$413,589
$413.6K
Market Conditions
NOI Build-Up for 1,856 SF
Gross rent
$56.8K $30.60/SF
− Vacancy
−$3.6K −$1.95/SF
EGI
$53.2K $28.65/SF
− OpEx
−$16.0K −$8.60/SF
NOI
$37.2K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,460
Cap Rate 7%
$531,757
Cap Rate 9%
$413,589
Alternative Uses
Best Use
Multifamily LT 5
$531.8K
$465.3K – $620.4K
NOI $37,223 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$489.8K
$428.6K – $571.5K
NOI $34,287 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,697 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,900
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
Frequently Asked Questions
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 SW 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $595,000.
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
