2009-Constructed Apartment
For Sale
$6,500,000
1553 SW 2nd Street, 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
Days on Market79
Property Features for 1553 SW 2nd Street
General Information
Standard status
Active
Size
22,336 SF
Property subtype
Multi Family
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:
Silverleafrealtygroup
Added: Jun 17
Changed: Aug 31
Last Checked: Sep 2 at 12:43AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$412,622
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,345
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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 Street 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
