5-Unit Apartment
2150 NW 24th St, Miami, FL 33142
For Sale
$1,199,000
Each residence has its own electrical meter, central air conditioning, and an assigned parking space.
Property Size2,655 SF
Price / SF$451.60
Days on Market23
Property Features for 2150 NW 24th St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Lease Term
Site & Location
Neighborhood
Units
Multifamily Units
Parking per Unit
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
central A/C
Security/High Impact Doors
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Jade International Realty LLC
(305) 421-6341
Listed By:
Carla Martinez · License FL #3280226
(786) 999-9692
Source:
Futureoptionrealty
Added: Oct 19
Changed: Nov 9
Last Checked: Nov 10 at 5:28PM
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 Jade International Realty LLC
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Investment Insights
Based on property information with market context.
This 2,655-square-foot apartment property was built in 1955 and contains five units. Each residence has a separate electrical meter and central air conditioning, with one parking space allocated per unit. The owner covers water, sewer, and trash service.
The property is in Allapattah, within Miami, and is minutes from Wynwood and the Miami River. It is also located in the adopted Allapattah Community Redevelopment Area.
The property is in Allapattah, within Miami, and is minutes from Wynwood and the Miami River. It is also located in the adopted Allapattah Community Redevelopment Area.
Key Highlights
- Five‑unit apartment property totaling 2,655 square feet
- Built in 1955
- Separate electrical meter and central air conditioning for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,047
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$980,940
$980.9K
Cap Rate 7%
$700,671
$700.7K
Cap Rate 9%
$544,967
$545.0K
Market Conditions
NOI Build-Up for 2,655 SF
Gross rent
$95.6K $36.00/SF
− Vacancy
−$6.4K −$2.41/SF
EGI
$89.2K $33.59/SF
− OpEx
−$40.1K −$15.11/SF
NOI
$49.0K $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%
$980,940
Cap Rate 7%
$700,671
Cap Rate 9%
$544,967
Alternative Uses
Best Use
Apartment 5plus
$700.7K
$613.1K – $817.5K
NOI $49,047 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.79M
$1.57M – $2.09M
NOI $125,450 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,696
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
$298,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami, FL
Properties on Market for Apartment buildings in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has its own electrical meter, central air conditioning, and an assigned parking space.
Where is this apartment building located?
The property is located at 2150 NW 24th St Miami, FL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Five‑unit apartment property totaling 2,655 square feet; Built in 1955; Separate electrical meter and central air conditioning for every unit
