Five-Unit Multifamily
For Sale
$895,000
2100 NW 24th St, Miami, FL 33142
Five fully occupied 1-bedroom, 1-bath units with recently completed 40-year recertification.
Property Size2,508 SF
Price / SF$356.86
Days on Market138
Property Features for 2100 NW 24th St
General Information
Standard status
Active
Size
2,508 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$12,113
Building Details
Building Size
2,508 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
Real Estate Sales Force
Listed By:
Antonio Cristobal · License #3253230
(786) 457-3211
Source:
Casacollectiongroup
Added: Apr 23
Changed: Aug 23
Last Checked: Sep 6 at 11:21AM
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 Real Estate Sales Force
Investment Insights
Based on property information with market context.
This is a five-unit multifamily property with all units currently occupied. The building’s rental mix consists entirely of 1-bedroom, 1-bath apartments. The property recently completed its 40-year recertification, which may reduce immediate capital expenditures for a new owner.
The asset is centrally located with easy access to major highways, public transportation, and employment centers. It is also available as part of a 10-unit portfolio that includes 2100 & 2110 NW 24 ST, with the option to purchase individually or together.
For buyers seeking an income-producing apartment building, the current configuration and recertification status provide a clear starting point for ongoing operations.
The asset is centrally located with easy access to major highways, public transportation, and employment centers. It is also available as part of a 10-unit portfolio that includes 2100 & 2110 NW 24 ST, with the option to purchase individually or together.
For buyers seeking an income-producing apartment building, the current configuration and recertification status provide a clear starting point for ongoing operations.
Key Highlights
- 1956‑built 5‑unit multifamily property with five 1‑bedroom, 1‑bath units
- 100% occupied with fully rented units
- Recently completed 40‑year recertification, potentially reducing near‑term capital expenditures
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
$46,331
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
5.18%
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%
$926,620
$926.6K
Cap Rate 7%
$661,871
$661.9K
Cap Rate 9%
$514,789
$514.8K
Market Conditions
NOI Build-Up for 2,508 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
$90.3K $36.00/SF
− Vacancy
−$6.0K −$2.41/SF
EGI
$84.2K $33.59/SF
− OpEx
−$37.9K −$15.11/SF
NOI
$46.3K $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%
$926,620
Cap Rate 7%
$661,871
Cap Rate 9%
$514,789
Alternative Uses
Best Use
Apartment 5plus
$661.9K
$579.1K – $772.2K
NOI $46,331 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.98M
NOI $118,504 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,696
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five fully occupied 1-bedroom, 1-bath units with recently completed 40-year recertification.
Where is this apartment building located?
The property is located at 2100 NW 24th St Miami, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 1956‑built 5‑unit multifamily property with five 1‑bedroom, 1‑bath units; 100% occupied with fully rented units; Recently completed 40‑year recertification, potentially reducing near‑term capital expenditures
