14-Unit Apartment
1701 SW 3rd St Miami, FL 33135
New
1701 SW 3rd St, Miami, FL, 33135
$4,200,000
For Sale
$4,200,000
Fourteen-unit multifamily property with thirteen 2-bedroom units and one 1-bedroom apartment.
Property Size10,764 SF
Price / SF$390.19
Days on Market3
Property Features for 1701 SW 3rd St
General Information
- Standard status
- Active
- Size
- 10,764 SF
Building Details
- Year Built
- 1968
Listing agency
BHHS EWM Realty
(786) 443-9649
Listed by
Kenneth Raymond · License #0613345
Source
Mymiahomes
Added: Jul 21 Updated: Jul 22 at 3:32AM Checked: Jul 22 at 3:32AM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This 14-unit apartment building consists of thirteen 2-bedroom, 1-bath apartments and one 1-bedroom unit. The property presents a straightforward residential income layout within a small multifamily configuration.
The building is located in an area described as having mixed-use potential, with proximity to the Miami River, Downtown, Brickell, Calle 8, the Medical Health District, Miami International Airport, Coral Gables, and Coconut Grove.
A 29,250 sq. ft. lot is available to the north of the property. Please do not disturb tenants.
The building is located in an area described as having mixed-use potential, with proximity to the Miami River, Downtown, Brickell, Calle 8, the Medical Health District, Miami International Airport, Coral Gables, and Coconut Grove.
A 29,250 sq. ft. lot is available to the north of the property. Please do not disturb tenants.
Key Highlights
- 14‑unit multifamily building built in 1968
- Unit mix includes 13 two‑bedroom apartments and 1 one‑bedroom apartment
- Located in a mixed‑use potential zone allowing residential, multifamily, and commercial uses
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 | $387.5k | $36.00 |
| − Vacancy | −$26.0k | −$2.41 |
| EGI | $361.5k | $33.59 |
| − OpEx | −$162.7k | −$15.11 |
| NOI | $198.8k | $18.47 |
10,764 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.84M
$2.49M – $3.31M
NOI $198,848 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.27M
$6.36M – $8.48M
NOI $508,604 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fourteen-unit multifamily property with thirteen 2-bedroom units and one 1-bedroom apartment.
Where is this apartment building located?
The property is located at 1701 SW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 14‑unit multifamily building built in 1968; Unit mix includes 13 two‑bedroom apartments and 1 one‑bedroom apartment; Located in a mixed‑use potential zone allowing residential, multifamily, and commercial uses
