8-Unit Apartment
New
For Sale
$1,200,000
2036 NW 3rd St, Miami, FL 33125
Two-story configuration with separately metered electricity for each apartment.
Property Size5,948 SF
Price / SF$201.75
Days on Market4
Property Features for 2036 NW 3rd St
General Information
Standard status
Active
Size
5,948 SF
Property subtype
Quadruplex
Net Operating Income
$72,200
Site & Location
Neighborhood
West Little Havana
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Individually Metered Utilities
electricity
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Gross Income
$115,200
Taxes and HOA fees
Annual Taxes
$11,340
Building Details
Building Size
5,948 SF
Year Built
1925
Buildings
1
Stories
2
Listing Agency:
Coldwell Banker Realty
Listed By:
Monika Tefel · License #3266738
(786) 502-0010
Source:
Miamibrokersgroup
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 5 at 2:36AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This two-story apartment property contains eight one-bedroom, one-bathroom residences across 5,948 square feet. The apartments have similar layouts, and each is served by a separate electric meter. Built in 1925, the building has received ongoing repairs and updates. The roof was replaced in 2023, and City of Miami-approved structural and electrical recertification reviews took place in 2025.
The property is at 2036 NW 3rd St in Miami, near Little Havana, Downtown Miami, Brickell, and major expressways. All eight apartments are occupied under month-to-month leases. Annual rental income is $115,200, with adjusted annual NOI of approximately $72,200 based on estimated recurring expenses of $43,000. The source also projects annual gross income of $144,000 at $1,500 per apartment per month, subject to market conditions.
The property is at 2036 NW 3rd St in Miami, near Little Havana, Downtown Miami, Brickell, and major expressways. All eight apartments are occupied under month-to-month leases. Annual rental income is $115,200, with adjusted annual NOI of approximately $72,200 based on estimated recurring expenses of $43,000. The source also projects annual gross income of $144,000 at $1,500 per apartment per month, subject to market conditions.
Key Highlights
- Eight one‑bedroom, one‑bathroom apartments
- 5,948 square feet in a two‑story building
- Separate electric meters for all apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,880
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,197,600
$2.2M
Cap Rate 7%
$1,569,714
$1.6M
Cap Rate 9%
$1,220,889
$1.2M
Market Conditions
NOI Build-Up for 5,948 SF
Gross rent
$214.1K $36.00/SF
− Vacancy
−$14.3K −$2.41/SF
EGI
$199.8K $33.59/SF
− OpEx
−$89.9K −$15.11/SF
NOI
$109.9K $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%
$2,197,600
Cap Rate 7%
$1,569,714
Cap Rate 9%
$1,220,889
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,880 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.01M
$3.51M – $4.68M
NOI $281,046 @ 7.0% cap · market cap 23.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,649
Businesses Nearby
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Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami, FL
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story configuration with separately metered electricity for each apartment.
Where is this apartment building located?
The property is located at 2036 NW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Eight one‑bedroom, one‑bathroom apartments; 5,948 square feet in a two‑story building; Separate electric meters for all apartments
