Income Producing Duplex in
2223 Northwest 32nd Street, Miami, FL 33142
Fully rented duplex near Miami Airport, Wynwood, and Brickell.
Type:Multi-Family Income / Duplex
Property size:
1,949 SFPrice / SF:
$343/SF- Added:
- Mar 7, 2026
- Days on Market:
- 86
- Last Refresh:
- Mar 17 at 4:21 am
Property Features for 2223 Northwest 32nd Street
General Information
- Standard status
- Active
- Size
- 1,949 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1935
Listing agent Yoiris Duran License #3234204 (305) 253-2800
Listing office Coldwell Banker Realty (305) 253-2800
Listing date Mar 7, 2026
Source Compass
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
HighLights
- Fully rented, income‑producing property.
- Prime location near Miami International Airport, Wynwood, Brickell, and beaches.
- Three units with a total rental income of $5975.
- Unit breakdown: 3/2 unit rents for $2300, a second unit rents for $2275, and an efficiency rents for $1400.
- Partially remodeled duplex.
- Water included in rent for all units.
Overview
This income-producing duplex is fully rented and partially remodeled. The property features three units. Unit #1 is a 3-bedroom, 2-bathroom unit renting for $2300. Unit #2 rents for $2275, and the efficiency unit rents for $1400. The property offers ample parking space and is situated in a prime location minutes away from Miami International Airport, Wynwood, Brickell, and the beaches. The property size is 1949 square feet. Water is included in the rent, with a single water meter for the entire property. Electricity is included for units #2 and #3, while unit #1 is responsible for its own electricity bill. There are two electric meters on the property.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.6k | $30.60 |
| − Vacancy | −$3.8k | −$1.95 |
| EGI | $55.8k | $28.65 |
| − OpEx | −$16.8k | −$8.60 |
| NOI | $39.1k | $20.06 |
1,949 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$558.4K
$488.6K – $651.5K
NOI $39,088 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$514.4K
$450.1K – $600.1K
NOI $36,005 @ 7.0% cap · market cap 5.37%
Theoretical Best
Specialty Retail
$1.32M
$1.15M – $1.53M
NOI $92,091 @ 7.0% cap · market cap 13.74%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.23243
- Latitude
- 25.805883
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Fully rented duplex near Miami Airport, Wynwood, and Brickell.
Where is this duplex located?
The property is located at 2223 Northwest 32nd Street Miami, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Fully rented, income‑producing property.; Prime location near Miami International Airport, Wynwood, Brickell, and beaches.; **Three units with a total rental income of $5975.**
