10-Unit Multifamily Apartment
For Sale
$1,890,000
Pending
1880 NW 36th St, Miami, FL 33142
Partially renovated multifamily property with individually metered units and dedicated parking for each residence.
Property Size5,500 SF
Days on Market55
Property Features for 1880 NW 36th St
General Information
Standard status
Pending
Size
5,500 SF
Property subtype
Commercial
Site & Location
Neighborhood
Melrose
Building Details
Building Size
5,500 SF
Year Built
1973
Listing Agency:
Habitat Realty LLC
Listed By:
Javier Gomez
(786) 273-6643
Source:
Elliman
Added: Sep 12
Changed: Oct 25
Last Checked: Nov 4 at 11:33AM
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 Habitat Realty LLC
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Investment Insights
Based on property information with market context.
This 10-unit apartment property at 1880 NW 36th Street in Miami includes four two-bedroom, one-bath residences of approximately 750 square feet each, along with six one-bedroom, one-bath residences. Eight units have been renovated, and each apartment is separately metered for electric service. The property provides one dedicated parking space per unit.
The building was constructed in 1973 and is zoned T6-8O, with capacity for up to 49 units through future redevelopment. It is also situated within a designated Opportunity Zone. The property is near Miami International Airport, Marlins Park, supermarkets, public transit, and major expressways. Walk Score is 68, Transit Score is 60, and Bike Score is 53.
The building was constructed in 1973 and is zoned T6-8O, with capacity for up to 49 units through future redevelopment. It is also situated within a designated Opportunity Zone. The property is near Miami International Airport, Marlins Park, supermarkets, public transit, and major expressways. Walk Score is 68, Transit Score is 60, and Bike Score is 53.
Key Highlights
- 10‑unit apartment property with four 2‑bedroom and six 1‑bedroom residences
- Four 2‑bedroom/1‑bathroom units are approximately 750 sq. ft. each
- 80% of units have been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,604
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,032,080
$2.0M
Cap Rate 7%
$1,451,486
$1.5M
Cap Rate 9%
$1,128,933
$1.1M
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$198.0K $36.00/SF
− Vacancy
−$13.3K −$2.41/SF
EGI
$184.7K $33.59/SF
− OpEx
−$83.1K −$15.11/SF
NOI
$101.6K $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%
$2,032,080
Cap Rate 7%
$1,451,486
Cap Rate 9%
$1,128,933
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,604 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.71M
$3.25M – $4.33M
NOI $259,877 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,370
Businesses Nearby
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Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Partially renovated multifamily property with individually metered units and dedicated parking for each residence.
Where is this apartment building located?
The property is located at 1880 NW 36th St Miami, FL.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 10‑unit apartment property with four 2‑bedroom and six 1‑bedroom residences; Four 2‑bedroom/1‑bathroom units are approximately 750 sq. ft. each; 80% of units have been renovated
