Two-Story Apartment
New
For Sale
$2,400,000
2001 SW 6th St, Miami, FL 33135
The property carries T4-R zoning, with off-street parking and separate utility responsibilities between residents and ownership.
Property Size8,028 SF
Lot Size0.22 Acres
Days on Market4
Property Features for 2001 SW 6th St
General Information
Standard status
Active
Size
8,028 SF
Lot size
0.22 Acres
Property subtype
Multifamily
Zoning
T4-R
Occupancy
95%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Additional Details
Cap Rate
4.51%
Amenities
Well located Little Havana Submarket
Very strong rental market
On-site parking
Updated Electric
Impact windows
Minisplit air-conditioning
Upside in rental income
Building Details
Building Size
8,028 SF
Buildings
1
Stories
2
Units
12
Listing Agency:
Fort Lauderdale Office
(954) 245-3444
Listed By:
Felipe Echarte · License #License(s): FL: SL696115
(954) 245-3444
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:37AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
This two-story residential property contains 12 one-bedroom, one-bathroom apartments, each measuring about 669 SF. Improvements include updated electrical service throughout, impact windows, and mini split air-conditioning systems. Off-street parking is positioned along the east side of the property, and the site encompasses .22 acres. Residents are responsible for electric service, while ownership covers water, sewer, and trash removal.
The building is located at 2001 SW 6th St in Miami, between SW 17th Avenue and SW 22nd Avenue. It sits several blocks from Domino Park and within the area between Flagler Street and SW 8th Street, two established retail and commercial corridors. T4-R zoning and the existing apartment configuration provide a clear physical profile for the property.
The building is located at 2001 SW 6th St in Miami, between SW 17th Avenue and SW 22nd Avenue. It sits several blocks from Domino Park and within the area between Flagler Street and SW 8th Street, two established retail and commercial corridors. T4-R zoning and the existing apartment configuration provide a clear physical profile for the property.
Key Highlights
- 12‑unit, two‑story apartment building with one‑bedroom, one‑bathroom units
- Approximately 669 SF per unit on a .22‑acre lot
- Updated electrical service throughout the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$148,304
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,966,080
$3.0M
Cap Rate 7%
$2,118,629
$2.1M
Cap Rate 9%
$1,647,822
$1.6M
Market Conditions
NOI Build-Up for 8,028 SF
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.
Gross rent
$289.0K $36.00/SF
− Vacancy
−$19.4K −$2.41/SF
EGI
$269.6K $33.59/SF
− OpEx
−$121.3K −$15.11/SF
NOI
$148.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,966,080
Cap Rate 7%
$2,118,629
Cap Rate 9%
$1,647,822
Alternative Uses
Best Use
Apartment 5plus
$2.12M
$1.85M – $2.47M
NOI $148,304 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.42M
$4.74M – $6.32M
NOI $379,327 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,090
Businesses Nearby
Explore this area
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
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 - The property carries T4-R zoning, with off-street parking and separate utility responsibilities between residents and ownership.
Where is this apartment building located?
The property is located at 2001 SW 6th St Miami, FL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12‑unit, two‑story apartment building with one‑bedroom, one‑bathroom units; Approximately 669 SF per unit on a .22‑acre lot; Updated electrical service throughout the building
