12-Unit Apartment
For Sale
$2,350,000
1563 SW 2nd St, Miami, FL 33135
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 Market106
Property Features for 1563 SW 2nd St
General Information
Standard status
Active
Size
5,928 SF
Lot size
0.17 Acres
Property subtype
Income/MultiFamily
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$26,238
Building Details
Building Size
5,928 SF
Year Built
1925
Stories
3
Listing Agency:
MSP Group, LLC
Listed By:
Demosthenes Mekras · License #0704134
(786) 671-0149
Source:
Marcelosteinmander
Added: Jul 8
Changed: Oct 16
Last Checked: Oct 19 at 5:36PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,510
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,190,200
$2.2M
Cap Rate 7%
$1,564,429
$1.6M
Cap Rate 9%
$1,216,778
$1.2M
Market Conditions
NOI Build-Up for 5,928 SF
Gross rent
$213.4K $36.00/SF
− Vacancy
−$14.3K −$2.41/SF
EGI
$199.1K $33.59/SF
− OpEx
−$89.6K −$15.11/SF
NOI
$109.5K $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%
$2,190,200
Cap Rate 7%
$1,564,429
Cap Rate 9%
$1,216,778
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 authorities.
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Property Analytics
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Lease Details
12
Residential units
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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
