Four-Unit
For Sale
$625,000
1478 NW 2nd Avenue, Florida City, FL 33034
Four apartment units feature individual water and electric metering, supporting separate utility management.
Property Size2,280 SF
Price / SF$274.12
Days on Market219
Property Features for 1478 NW 2nd Avenue
General Information
Standard status
Active
Size
2,280 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
3000
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,080
Building Details
Building Size
2,280 SF
Year Built
1956
Stories
1
Listing Agency:
The Keyes Company
Listed By:
Cinthia Rai · License #3417393
(305) 376-7202
Source:
Laerrealty
Added: Mar 13
Changed: Oct 15
Last Checked: Oct 16 at 6:12AM
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 The Keyes Company
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Investment Insights
Based on property information with market context.
This quadplex contains four 1-bedroom, 1-bathroom apartments within a 2,280-square-foot property. The units have open floor plans, and each is served by separate water and electric meters. A new roof is also in place, adding a recent building improvement.
The property is located near US-1 and the Florida Turnpike, with restaurants, shopping centers, Homestead Outlet Mall, and Downtown Homestead identified in the surrounding area. Floor plans and a 3D virtual tour are available for review.
The property is located near US-1 and the Florida Turnpike, with restaurants, shopping centers, Homestead Outlet Mall, and Downtown Homestead identified in the surrounding area. Floor plans and a 3D virtual tour are available for review.
Key Highlights
- Four 1‑bedroom, 1‑bathroom apartment units
- 2,280 square feet across the quadplex
- Separate water and electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,007
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$760,140
$760.1K
Cap Rate 7%
$542,957
$543.0K
Cap Rate 9%
$422,300
$422.3K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$57.5K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$54.3K $23.81/SF
− OpEx
−$16.3K −$7.14/SF
NOI
$38.0K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$760,140
Cap Rate 7%
$542,957
Cap Rate 9%
$422,300
Alternative Uses
Best Use
Multifamily LT 5
$543.0K
$475.1K – $633.5K
NOI $38,007 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$500.9K
$438.3K – $584.4K
NOI $35,065 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,972 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
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?
Quadplex - Four apartment units feature individual water and electric metering, supporting separate utility management.
Where is this quadplex located?
The property is located at 1478 NW 2nd Avenue Florida City, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bathroom apartment units; 2,280 square feet across the quadplex; Separate water and electric meters for each unit
