Renovated Multifamily Apartment
For Sale
$3,195,000
1829 NW 2nd Ct, Miami, FL 33136
Renovated multifamily property built in 1942 with convenient access to major Miami highways and Brightline/MiamiCentral transit.
Property Size8,178 SF
Price / SF$390.68
Days on Market74
Property Features for 1829 NW 2nd Ct
General Information
Standard status
Active
Size
8,178 SF
Property subtype
Income/MultiFamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Building Size
8,178 SF
Year Built
1942
Listing Agency:
The Lab Realty Group, LLC
(786) 873-2597
Listed By:
Karl Hueck · License #3311682
Source:
Casacollectiongroup
Added: May 25
Changed: Jul 30
Last Checked: Aug 5 at 5:07AM
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 The Lab Realty Group, LLC
Investment Insights
Based on property information with market context.
Renovated multifamily apartment building built in 1942, positioned to serve urban renters with daily commuting needs. The property totals 8,178 and is described as offering strong tenant demand from professionals, students, and workforce renters.
Conveniently located near I-95, I-395, SR-836, and Brightline/MiamiCentral transit connectivity, it provides commuting access throughout Miami-Dade and quick reach to multiple entertainment, shopping, and employment hubs. The surrounding area is described as undergoing major revitalization with new mixed-use development and modern apartment communities.
Residents are also described as being close to local attractions and services including Wynwood Walls, Bayside Marketplace, Kaseya Center, Museum Park, Jackson Memorial Hospital, and the Health District, with nearby parks, cafes, retail centers, and recreation.
Conveniently located near I-95, I-395, SR-836, and Brightline/MiamiCentral transit connectivity, it provides commuting access throughout Miami-Dade and quick reach to multiple entertainment, shopping, and employment hubs. The surrounding area is described as undergoing major revitalization with new mixed-use development and modern apartment communities.
Residents are also described as being close to local attractions and services including Wynwood Walls, Bayside Marketplace, Kaseya Center, Museum Park, Jackson Memorial Hospital, and the Health District, with nearby parks, cafes, retail centers, and recreation.
Key Highlights
- Renovated multifamily apartment building
- 8,178 total property size
- Built in 1942
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 | $294.4k | $36.00 |
| − Vacancy | −$19.7k | −$2.41 |
| EGI | $274.7k | $33.59 |
| − OpEx | −$123.6k | −$15.11 |
| NOI | $151.1k | $18.47 |
8,178 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.16M
$1.89M – $2.52M
NOI $151,075 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.52M
$4.83M – $6.44M
NOI $386,414 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,706
Businesses Nearby
Explore this area
Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
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 - Renovated multifamily property built in 1942 with convenient access to major Miami highways and Brightline/MiamiCentral transit.
Where is this apartment building located?
The property is located at 1829 NW 2nd Ct Miami, FL.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: Renovated multifamily apartment building; 8,178 total property size; Built in 1942
