Two-Story Apartment
For Sale
$2,700,000
1528 SW 5th St, Miami, FL 33135
Residential income property with updated electrical service and T4-L zoning in an established Miami neighborhood.
Property Size8,030 SF
Days on Market75
Property Features for 1528 SW 5th St
General Information
Standard status
Active
Size
8,030 SF
Property subtype
Multifamily
Occupancy
95%
Amenities
Well located Little Havana Submarket
Very strong rental market
Updated Electric
Select units have central air-conditioning
Upside in rental income
Building Details
Building Size
8,030 SF
Units
14
Listing Agency:
Fort Lauderdale Office
Listed By:
Felipe Echarte · License #License(s): FL: SL696115
(954) 245-3444
Source:
Marcusmillichap
Added: Aug 8
Changed: Oct 3
Last Checked: Oct 20 at 5:13PM
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 Fort Lauderdale Office
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Investment Insights
Based on property information with market context.
This two-story apartment property sits on a 0.22-acre lot and includes updated electrical service. The property is designated T4-L, supporting its residential multifamily classification. Utility responsibilities are divided between the tenants and ownership, with tenants paying electric service while the owner covers water, sewer, and trash removal.
The building is located at 1528 SW 5th Street between SW 12th Avenue and SW 17th Avenue. Its surrounding area lies between Flagler Street and SW 8th Street, placing the property near two established retail and commercial corridors. The neighborhood is described as densely populated, with access to employment centers including the Health District, Downtown Miami, Brickell, Port Miami, Coconut Grove, Coral Gables, and Miami International Airport.
The building is located at 1528 SW 5th Street between SW 12th Avenue and SW 17th Avenue. Its surrounding area lies between Flagler Street and SW 8th Street, placing the property near two established retail and commercial corridors. The neighborhood is described as densely populated, with access to employment centers including the Health District, Downtown Miami, Brickell, Port Miami, Coconut Grove, Coral Gables, and Miami International Airport.
Key Highlights
- Two‑story apartment property on a 0.22‑acre lot
- T4‑L zoning
- Updated electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$148,341
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,966,820
$3.0M
Cap Rate 7%
$2,119,157
$2.1M
Cap Rate 9%
$1,648,233
$1.6M
Market Conditions
NOI Build-Up for 8,030 SF
Gross rent
$289.1K $36.00/SF
− Vacancy
−$19.4K −$2.41/SF
EGI
$269.7K $33.59/SF
− OpEx
−$121.4K −$15.11/SF
NOI
$148.3K $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%
$2,966,820
Cap Rate 7%
$2,119,157
Cap Rate 9%
$1,648,233
Alternative Uses
Best Use
Apartment 5plus
$2.12M
$1.85M – $2.47M
NOI $148,341 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.42M
$4.74M – $6.32M
NOI $379,421 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,745
Businesses Nearby
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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?
Apartment building - Residential income property with updated electrical service and T4-L zoning in an established Miami neighborhood.
Where is this apartment building located?
The property is located at 1528 SW 5th St Miami, FL.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Two‑story apartment property on a 0.22‑acre lot; T4‑L zoning; Updated electrical service
