Renovated 8-Unit Apartment
New
For Sale
$2,275,000
1484 NW 15th Avenue, Miami, FL 33125
Two-story property with private balconies on its second-floor residences and a recently completed parking lot.
Property Size6,552 SF
Lot Size0.25 Acres
Days on Market3
Property Features for 1484 NW 15th Avenue
General Information
Standard status
Active
Size
6,552 SF
Total Parking Spaces
17
Lot size
0.25 Acres
Zoning
4601
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$24,392
Amenities
central air conditioning
private balcony
hurricane impact windows
new railings
Building Details
Building Size
6,552 SF
Year Built
1975
Buildings
1
Stories
2
Listing Agency:
MSP Group, LLC
Listed By:
Demosthenes Mekras · License #0704134
(786) 208-2684
Source:
Laerrealty
Added: Oct 7
Last Checked: Oct 9 at 5:17PM
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 MSP Group, LLC
Investment Insights
Based on property information with market context.
This two-story apartment property contains eight residences, all configured as two-bedroom, one-bathroom layouts averaging 819 square feet. Central air conditioning serves every unit, and second-floor apartments include private balconies. Interior finishes in several units include quartz or granite countertops, updated kitchen cabinetry, stainless steel appliances, and luxury vinyl plank flooring. Building improvements include a replacement concrete roof completed in 2024, impact-resistant windows throughout, new railings, and a completed 40-Year Recertification.
The property occupies a 10,800-square-foot double lot, or 0.25 acres, zoned T6-8-R. Current zoning allows up to 37 units and eight stories. On-site parking includes 17 car spaces and two motorcycle spaces. The property is at 1484 NW 15th Avenue, within a ten-minute walk of Miami’s Health District.
The property occupies a 10,800-square-foot double lot, or 0.25 acres, zoned T6-8-R. Current zoning allows up to 37 units and eight stories. On-site parking includes 17 car spaces and two motorcycle spaces. The property is at 1484 NW 15th Avenue, within a ten-minute walk of Miami’s Health District.
Key Highlights
- Eight apartments, each with a two‑bedroom, one‑bathroom layout averaging 819 square feet
- 10,800‑square‑foot double lot (0.25 acres) zoned T6‑8‑R; zoning allows up to 37 units and eight stories
- 17 on‑site car spaces and two motorcycle spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,038
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,420,760
$2.4M
Cap Rate 7%
$1,729,114
$1.7M
Cap Rate 9%
$1,344,867
$1.3M
Market Conditions
NOI Build-Up for 6,552 SF
Gross rent
$235.9K $36.00/SF
− Vacancy
−$15.8K −$2.41/SF
EGI
$220.1K $33.59/SF
− OpEx
−$99.0K −$15.11/SF
NOI
$121.0K $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%
$2,420,760
Cap Rate 7%
$1,729,114
Cap Rate 9%
$1,344,867
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $121,038 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.42M
$3.87M – $5.16M
NOI $309,585 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
7,855
Businesses Nearby
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Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story property with private balconies on its second-floor residences and a recently completed parking lot.
Where is this apartment building located?
The property is located at 1484 NW 15th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Eight apartments, each with a two‑bedroom, one‑bathroom layout averaging 819 square feet; 10,800‑square‑foot double lot (0.25 acres) zoned T6‑8‑R; zoning allows up to 37 units and eight stories; 17 on‑site car spaces and two motorcycle spaces
