Five-Unit Apartment
For Sale
$1,500,000
Pending
1515 N Redland Rd, Florida City, FL 33034
New construction offers five matching residences, each configured with three bedrooms and two bathrooms.
Property Size5,800 SF
Days on Market10
Property Features for 1515 N Redland Rd
General Information
Standard status
Pending
Size
5,800 SF
Zoning
3000
Units
Unit Mix
5 x 3BR/2BA
Multifamily Units
5
Amenities
5
9362
false
5800
1
Building Details
Building Size
5,800 SF
Year Built
2026
Buildings
1
Stories
2
Construction
garden
Listing Agency:
(786) 744-4615
Listed By:
Dariel Paula
Source:
Lacostahomesrealty
Added: Oct 26
Changed: Oct 31
Last Checked: Nov 3 at 8:11AM
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 Dariel Paula
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Investment Insights
Based on property information with market context.
Completed in 2026, this newly constructed apartment property contains five residences, each with three bedrooms and two bathrooms. The building totals 5,800 square feet and is ready for lease-up.
Key Highlights
- Five apartments, each with 3 bedrooms and 2 bathrooms
- 5,800‑square‑foot building
- Built in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,200
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,784,000
$1.8M
Cap Rate 7%
$1,274,286
$1.3M
Cap Rate 9%
$991,111
$991.1K
Market Conditions
NOI Build-Up for 5,800 SF
Gross rent
$169.8K $29.28/SF
− Vacancy
−$7.6K −$1.32/SF
EGI
$162.2K $27.96/SF
− OpEx
−$73.0K −$12.58/SF
NOI
$89.2K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,784,000
Cap Rate 7%
$1,274,286
Cap Rate 9%
$991,111
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.12M – $1.49M
NOI $89,200 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,981 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
489
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - New construction offers five matching residences, each configured with three bedrooms and two bathrooms.
Where is this apartment building located?
The property is located at 1515 N Redland Rd Florida City, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Five apartments, each with 3 bedrooms and 2 bathrooms; 5,800‑square‑foot building; Built in 2026
