Turnkey Multifamily Building on Corner
For Sale
$2,250,000
1785 SW 13th St, Miami, FL 33145
Renovated 12-unit apartment building near Coconut Grove.
Property Size8,899 SF
Price / SF$252.84
Days on Market218
Property Features for 1785 SW 13th St
General Information
Standard status
Active
Size
8,899 SF
Building Details
Year Built
1928
Listing Agency:
LoKation
Listed By:
Steven M. Grossman, PA · License #SL3372785
(954) 545-5583
Source:
Chenoregroup
Added: Mar 11
Changed: Sep 30
Last Checked: Oct 12 at 10:02PM
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 LoKation
Investment Insights
Based on property information with market context.
This turnkey multifamily apartment building features twelve units and is situated on a corner lot. The 12,626 square foot property is located approximately 10 minutes from Coconut Grove. Each unit includes a spacious one-bedroom, one-bathroom layout, with a living room, dining area, and kitchen featuring double-height ceilings. The property has undergone extensive renovations, including updated plumbing and electrical systems, newer wall-mounted A/C units, and a new roof installed in 2021. The 40-Year Recertification was completed in 2018.
Key Highlights
- Turnkey 12‑unit apartment building on a corner lot.
- Add‑on potential for increased value.
- Extensive renovations including updated plumbing and electrical systems, newer A/C units, and a new roof (2021).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,395
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,287,900
$3.3M
Cap Rate 7%
$2,348,500
$2.3M
Cap Rate 9%
$1,826,611
$1.8M
Market Conditions
NOI Build-Up for 8,899 SF
Gross rent
$320.4K $36.00/SF
− Vacancy
−$21.5K −$2.41/SF
EGI
$298.9K $33.59/SF
− OpEx
−$134.5K −$15.11/SF
NOI
$164.4K $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%
$3,287,900
Cap Rate 7%
$2,348,500
Cap Rate 9%
$1,826,611
Alternative Uses
Best Use
Apartment 5plus
$2.35M
$2.05M – $2.74M
NOI $164,395 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.01M
$5.26M – $7.01M
NOI $420,482 @ 7.0% cap · market cap 18.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,986
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Renovated 12-unit apartment building near Coconut Grove.
Where is this apartment building located?
The property is located at 1785 SW 13th St Miami, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Turnkey 12‑unit apartment building on a corner lot.; Add‑on potential for increased value.; Extensive renovations including updated plumbing and electrical systems, newer A/C units, and a new roof (2021).
