5-Unit Apartment
For Sale
$1,250,000
2610 Northwest 23rd Avenue, Miami, FL 33142
Multifamily property with varied unit layouts and separate water, electric, and gas metering.
Property Size5,327 SF
Lot Size0.25 Acres
Price / SF$234.65
Days on Market304
Property Features for 2610 Northwest 23rd Avenue
General Information
Standard status
Active
Size
5,327 SF
Lot size
0.25 Acres
Property subtype
Multi-Family Income / Fourplex
Zoning
T4-R
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR/1BA, 1 x 4BR/3BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$12,993
Building Details
Year Built
1926
Buildings
1
Listing Agency:
Julies Realty, LLC
Listed By:
Yilena Mendoza · License #3303361
(305) 751-6400
Source:
Compass
Added: Dec 19, 2025
Changed: Oct 13
Last Checked: Oct 19 at 9:07AM
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 Julies Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 2610 Northwest 23rd Avenue in Miami, this 1926 multifamily property contains five units: four one-bedroom, one-bath residences and one four-bedroom, three-bath residence. Each unit has separate meters for water, electricity, and gas. The building is part of a portfolio sale that includes two contiguous lots totaling 11,040 square feet, including adjacent land parcel A11959678 under a separate folio.
The property is zoned T4-R and positioned along the NW 27th Avenue corridor in Allapattah, immediately west of the Wynwood Arts District. The location provides access to SR-836, I-95, and the Airport Expressway, with Miami’s Health District, Downtown Miami, and Miami International Airport referenced in the surrounding context.
The property is zoned T4-R and positioned along the NW 27th Avenue corridor in Allapattah, immediately west of the Wynwood Arts District. The location provides access to SR-836, I-95, and the Airport Expressway, with Miami’s Health District, Downtown Miami, and Miami International Airport referenced in the surrounding context.
Key Highlights
- Five‑unit mix with four 1‑bedroom/1‑bath units and one 4‑bedroom/3‑bath unit
- Separate meters for water, electricity, and gas at each unit
- Two contiguous lots totaling 11,040 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,408
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,968,160
$2.0M
Cap Rate 7%
$1,405,829
$1.4M
Cap Rate 9%
$1,093,422
$1.1M
Market Conditions
NOI Build-Up for 5,327 SF
Gross rent
$191.8K $36.00/SF
− Vacancy
−$12.8K −$2.41/SF
EGI
$178.9K $33.59/SF
− OpEx
−$80.5K −$15.11/SF
NOI
$98.4K $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%
$1,968,160
Cap Rate 7%
$1,405,829
Cap Rate 9%
$1,093,422
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,408 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.60M
$3.15M – $4.20M
NOI $251,703 @ 7.0% cap · market cap 20.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
665
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
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied unit layouts and separate water, electric, and gas metering.
Where is this apartment building located?
The property is located at 2610 Northwest 23rd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five‑unit mix with four 1‑bedroom/1‑bath units and one 4‑bedroom/3‑bath unit; Separate meters for water, electricity, and gas at each unit; Two contiguous lots totaling 11,040 square feet
