2009-Constructed Apartment
For Sale
$6,500,000
1553 SW 2nd St, Miami, FL 33135
2009-built multifamily with 21 one-bedroom units, central A/C, in-unit washer/dryer, and gated parking.
Property Size22,336 SF
Price / SF$291.01
Days on Market127
Property Features for 1553 SW 2nd St
General Information
Standard status
Active
Size
22,336 SF
Property subtype
Income/MultiFamily
Building Details
Building Size
22,336 SF
Year Built
2009
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Mauricio Villasuso · License #3254982
(305) 340-8901
Source:
Casacollectiongroup
Added: Jun 17
Changed: Oct 14
Last Checked: Oct 21 at 6:41AM
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 Fausto Commercial Realty Consultants Inc
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Investment Insights
Based on property information with market context.
Built in 2009, this apartment building features 21 residential units totaling 22,336 square feet on a 15,000 square foot lot. Each one-bedroom unit includes 1.5 baths, loft-style layouts, central A/C, and an in-unit washer/dryer. On-site parking is provided on the ground floor behind a gate, and there is the option to sub-meter individual water meters.
The property is located on SW 2nd Street in East Little Havana, with direct access via HWY 836. It is about one block from loanDepot Park and in close proximity to Calle Ocho.
This is a turn-key, in-place income-producing asset with a configuration that supports individual unit metering options for water.
The property is located on SW 2nd Street in East Little Havana, with direct access via HWY 836. It is about one block from loanDepot Park and in close proximity to Calle Ocho.
This is a turn-key, in-place income-producing asset with a configuration that supports individual unit metering options for water.
Key Highlights
- 2009‑built apartment building with 21 residential units totaling 22,336 SF on a 15,000 SF lot
- All units are 1‑bedroom layouts with 1.5 baths and loft‑style layouts
- Each unit includes central A/C and an in‑unit washer/dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$412,622
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,252,440
$8.3M
Cap Rate 7%
$5,894,600
$5.9M
Cap Rate 9%
$4,584,689
$4.6M
Market Conditions
NOI Build-Up for 22,336 SF
Gross rent
$804.1K $36.00/SF
− Vacancy
−$53.9K −$2.41/SF
EGI
$750.2K $33.59/SF
− OpEx
−$337.6K −$15.11/SF
NOI
$412.6K $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%
$8,252,440
Cap Rate 7%
$5,894,600
Cap Rate 9%
$4,584,689
Alternative Uses
Best Use
Apartment 5plus
$5.89M
$5.16M – $6.88M
NOI $412,622 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$15.08M
$13.19M – $17.59M
NOI $1,055,386 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,345
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 - 2009-built multifamily with 21 one-bedroom units, central A/C, in-unit washer/dryer, and gated parking.
Where is this apartment building located?
The property is located at 1553 SW 2nd St Miami, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 2009‑built apartment building with 21 residential units totaling 22,336 SF on a 15,000 SF lot; All units are 1‑bedroom layouts with 1.5 baths and loft‑style layouts; Each unit includes central A/C and an in‑unit washer/dryer
