Four-Unit Apartment
New
For Sale
$625,000
1478 NW 2nd Avenue, Florida City, FL 33034
Four one-bedroom residences have separate water and electric meters, with an open layout in each unit.
Property Size2,280 SF
Price / SF$274.12
Days on Market3
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
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Individually Metered Utilities
water, electricity
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:
Saud Rai · License #3403236
(305) 376-7202
Source:
Laerrealty
Added: Oct 23
Last Checked: Oct 24 at 2:15PM
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 2,280-square-foot fourplex contains four one-bedroom, one-bathroom apartments, each arranged with an open floor plan. Separate water and electric meters serve every unit. A new roof is in place, and the building dates to 1956.
The property is at 1478 NW 2nd Avenue in Florida City, near US-1 and the Florida Turnpike. Restaurants, shopping centers, Homestead Outlet Mall, and Downtown Homestead are also nearby.
The property is at 1478 NW 2nd Avenue in Florida City, near US-1 and the Florida Turnpike. Restaurants, shopping centers, Homestead Outlet Mall, and Downtown Homestead are also nearby.
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- 2,280 square feet across four units
- Individual water and electric meters for every apartment
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences have separate water and electric meters, with an open layout in each unit.
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 apartments, each with 1 bedroom and 1 bathroom; 2,280 square feet across four units; Individual water and electric meters for every apartment
