Apartment Building with Assigned
For Sale
$1,800,000
Pending
2015 NW 6th Pl, Miami, FL 33127
MULTI_FAMILY - Miami, FL
Property Size3,130 SF
Lot Size0.10 Acres
Days on Market45
Property Features for 2015 NW 6th Pl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
7000
Parking
6
Parking features
Assigned
Subdivision
31
Standard status
Pending
APN
01-31-25-035-2670
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
NORTH WEST 7TH AVE ADD PB 7-36 LOTS 21 & 22 BLK 15 LOT SIZE 60.000 X 75 OR 20978-3128 1202 4
Tax Annual Amount
13472
Legal Description
NORTH WEST 7TH AVE ADD PB 7-36 LOTS 21 & 22 BLK 15 LOT SIZE 60.000 X 75 OR 20978-3128 1202 4
Utilities
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1951
Floors in Building
2
Number of units
6
Listing Agency:
Keller Williams Eagle Realty · Keller Williams Realty
(305) 757-1700
Listed By:
Danielle Hall · License #3643177
(786) 726-2696
Added: Jun 30
Changed: Aug 5
Last Checked: Aug 13 at 6:06AM
MLS# A11896077
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
2015 NW 6th Pl is a tenant-occupied apartment building featuring six 1-bedroom, 1-bath units across 3,130 sq ft. The property sits on a 4,500 sq ft lot and is offered with multifamily zoning. Cooling is provided via window and wall/window unit(s), and parking is listed as assigned.
Built in 1951, the building is positioned on the outskirts of Wynwood in Miami, FL (33127). The property is described as having convenient access to major highways, connecting to Miami Beach, the airport, and other Miami-area hubs.
For prospective owners, this multifamily asset offers a straightforward unit configuration with in-place occupancy, along with redevelopment and renovation potential consistent with the property’s stated zoning and local context.
Built in 1951, the building is positioned on the outskirts of Wynwood in Miami, FL (33127). The property is described as having convenient access to major highways, connecting to Miami Beach, the airport, and other Miami-area hubs.
For prospective owners, this multifamily asset offers a straightforward unit configuration with in-place occupancy, along with redevelopment and renovation potential consistent with the property’s stated zoning and local context.
Key Highlights
- Six 1‑bedroom, 1‑bath units totaling 3,130 sq ft
- 4,500 sq ft lot with multifamily zoning
- Tenant occupied apartment 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
$57,822
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
3.21%
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%
$1,156,440
$1.2M
Cap Rate 7%
$826,029
$826.0K
Cap Rate 9%
$642,467
$642.5K
Market Conditions
NOI Build-Up for 3,130 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
$112.7K $36.00/SF
− Vacancy
−$7.5K −$2.41/SF
EGI
$105.1K $33.59/SF
− OpEx
−$47.3K −$15.11/SF
NOI
$57.8K $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%
$1,156,440
Cap Rate 7%
$826,029
Cap Rate 9%
$642,467
Alternative Uses
Best Use
Apartment 5plus
$826.0K
$722.8K – $963.7K
NOI $57,822 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.11M
$1.85M – $2.46M
NOI $147,894 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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 - Apartment building with six 1-bedroom, 1-bath units and assigned parking, tenant occupied and built in 1951.
Where is this apartment building located?
The property is located at 2015 NW 6th Pl Miami, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Six 1‑bedroom, 1‑bath units totaling 3,130 sq ft; 4,500 sq ft lot with multifamily zoning; Tenant occupied apartment building
