Renovated
2460 SW 16th St, Miami, FL 33145
For Sale
New
$1,088,000
Both residences are leased month-to-month, with one offering four bedrooms and two bathrooms.
Property Size3,104 SF
Days on Market6
Property Features for 2460 SW 16th St
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Gross Income
Average Monthly Rent
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Buildings
Tenancy
Listing Agency:
Core International Realty
Listed By:
Margarita Elordi · License FL #0701472
(305) 984-0991
Source:
Luxeknows
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 10 at 7:35PM
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 Core International Realty
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Investment Insights
Based on property information with market context.
This Miami duplex contains two rental residences and underwent renovation in late 2023. One unit is configured with four bedrooms and two bathrooms; the property was built in 1986. Both residences are occupied under month-to-month rental agreements.
The property is in Shenandoah, with Brickell, Coral Gables, and Little Havana described as nearby areas.
The property is in Shenandoah, with Brickell, Coral Gables, and Little Havana described as nearby areas.
Key Highlights
- Two rental residences in a duplex
- Renovation completed in late 2023
- One residence has 4 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,252
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,245,040
$1.2M
Cap Rate 7%
$889,314
$889.3K
Cap Rate 9%
$691,689
$691.7K
Market Conditions
NOI Build-Up for 3,104 SF
Gross rent
$95.0K $30.60/SF
− Vacancy
−$6.1K −$1.95/SF
EGI
$88.9K $28.65/SF
− OpEx
−$26.7K −$8.60/SF
NOI
$62.3K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,245,040
Cap Rate 7%
$889,314
Cap Rate 9%
$691,689
Alternative Uses
Best Use
Multifamily LT 5
$889.3K
$778.2K – $1.04M
NOI $62,252 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$819.2K
$716.8K – $955.7K
NOI $57,341 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$2.10M
$1.83M – $2.44M
NOI $146,665 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,292
Businesses Nearby
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Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami, FL
Properties on Market for Duplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased month-to-month, with one offering four bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 2460 SW 16th St Miami, FL.
What is the asking price?
The asking price for this property is $1,088,000.
What are key features of this property?
This property features: Two rental residences in a duplex; Renovation completed in late 2023; One residence has 4 bedrooms and 2 bathrooms
