12-Unit Apartment
1563 SW 2nd St Miami, FL 33135
1563 SW 2nd St, Miami, FL, 33135
$2,350,000
For Sale
$2,350,000
Twelve units in a three-story 1925 building with flat roof, studio and 1-bedroom layouts, and parking options.
Property Size5,928 SF
Lot Size0.17 Acres
Price / SF$396.42
Days on Market15
Property Features for 1563 SW 2nd St
General Information
- Standard status
- Active
- Size
- 5,928 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1925
Listing agency
MSP Group, LLC
(786) 208-2684
Listed by
Demosthenes Mekras · License #3085829
(786) 208-2684
Source
Riserealty
Added: Jul 8 Updated: Jul 21 at 2:29PM Checked: Jul 21 at 2:29PM
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.
Doce Tribus Apartments is a 12-unit, three-story apartment building constructed in 1925. The property totals 5,928 SF and sits on a 7,500 SF parcel. The unit mix includes 10 studio apartments and 2 one-bedroom, one-bath units, with average unit size around 494 SF. Residents benefit from wall/window A/C units and a durable flat roof.
Rents currently range from $975 to $1,450, with an average in-place rent of $1,279. Water, sewer, and trash are included in the rent, and the community offers both on-site and street parking. Doce Tribus is located in Little Havana and is described as being within a short drive of Miami International Airport, the Health District/Civic Center, and PortMiami via car or public transportation.
The building’s configuration and included utilities support an all-in living setup for residents, with parking available for tenants through on-site and street options.
Rents currently range from $975 to $1,450, with an average in-place rent of $1,279. Water, sewer, and trash are included in the rent, and the community offers both on-site and street parking. Doce Tribus is located in Little Havana and is described as being within a short drive of Miami International Airport, the Health District/Civic Center, and PortMiami via car or public transportation.
The building’s configuration and included utilities support an all-in living setup for residents, with parking available for tenants through on-site and street options.
Key Highlights
- 12‑unit apartment complex at 1563 SW 2nd Street, Miami, FL in a 3‑story building built in 1925
- Building size of 5,928 SF on a 7,500 SF (0.17‑acre) parcel
- Unit mix: 10 studios and 2 one‑bedroom/one‑bath units, with units averaging 494 SF
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $213.4k | $36.00 |
| − Vacancy | −$14.3k | −$2.41 |
| EGI | $199.1k | $33.59 |
| − OpEx | −$89.6k | −$15.11 |
| NOI | $109.5k | $18.47 |
5,928 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.37M – $1.83M
NOI $109,510 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.00M
$3.50M – $4.67M
NOI $280,101 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Twelve units in a three-story 1925 building with flat roof, studio and 1-bedroom layouts, and parking options.
Where is this apartment building located?
The property is located at 1563 SW 2nd St Miami, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 12‑unit apartment complex at 1563 SW 2nd Street, Miami, FL in a 3‑story building built in 1925; Building size of 5,928 SF on a 7,500 SF (0.17‑acre) parcel; Unit mix: 10 studios and 2 one‑bedroom/one‑bath units, with units averaging 494 SF
