Allapattah Multifamily Investment
2610 NW 23rd Ave, Miami, FL 33142
Fourplex, Quadruplex - Miami, FL
Type:Quadruplex
Property size:
5,327 SFLot size:
0.25 AcresPrice / SF:
$234/SF- Added:
- Feb 6, 2026
- Days on Market:
- 113
- Last Refresh:
- May 30 at 1:06 pm
Property Features for 2610 NW 23rd Ave
General Information
- Property type
- Residential
- Property subtype
- Quadruplex
- Zoning
- 3900
- Bedrooms
- 7
- Bathrooms
- 6
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking
- 6
- Standard status
- Active
- APN
- 01-31-27-026-0370
- Size
- 5,327 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 12993
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1926
- Flooring type
- Tile
- Building materials
- Block
- Roof type
- Other
- Architectural style
- Other
Listing agent Yilena Mendoza License #3303361 (786) 442-7626
Listing office Julies Realty, LLC 1700 Kennedy Causeway, North Bay Village, FL (305) 751-6400
Listing date Feb 6, 2026
MLS# A11956823
Listing URL
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime redevelopment opportunity in Allapattah's NW 27th Avenue corridor with T4‑R zoning.
- Portfolio sale includes two contiguous lots totaling 11,040 sq ft, offering immediate expansion possibilities.
- Income‑producing 5‑unit multifamily building currently on the property.
- Strategically located immediately west of Wynwood Arts District, with superior connectivity.
- All units have individual utility meters.
- Located in a high‑traffic commercial corridor.
Overview
Located in the Allapattah neighborhood of Miami, this property presents a rare opportunity for investors and developers. The offering includes two contiguous lots totaling 11,040 square feet. The property features an income-producing 5-unit multifamily building. The building consists of four 1-bedroom/1-bath units and one 4-bedroom/3-bath unit. Each unit has individual utility meters for water, electricity, and gas. The property is zoned T4-R and is strategically positioned on the NW 27th Avenue corridor, immediately west of the Wynwood Arts District. The location provides superior connectivity, with quick access to SR-836, I-95, and the Airport Expressway. It is also minutes from Wynwood, the Health District, and Downtown Miami. The property offers a prime redevelopment opportunity to hold and collect income or capitalize on T4-R zoning for value-add development, while the included adjacent lot provides immediate expansion possibilities.
Local Financial Insights For Apartment 5plus
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 | $191.8k | $36.00 |
| − Vacancy | −$12.8k | −$2.41 |
| EGI | $178.9k | $33.59 |
| − OpEx | −$80.5k | −$15.11 |
| NOI | $98.4k | $18.47 |
5,327 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.234055
- Latitude
- 25.800266
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Income-producing multifamily building with expansion possibilities in a growing Miami neighborhood.
Where is this apartment building located?
The property is located at 2610 NW 23rd Ave 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: Prime redevelopment opportunity in Allapattah's NW 27th Avenue corridor with T4‑R zoning.; Portfolio sale includes two contiguous lots totaling 11,040 sq ft, offering immediate expansion possibilities.; Income‑producing 5‑unit multifamily building currently on the property.
