Multifamily Development Parcel for 2–9
2619 Southwest 5th Street Miami, FL 33135
2619 Southwest 5th Street, Miami, FL, 33135
$1,075,000
For Sale
$1,075,000
Existing 4/4 multi-family home with land approval for development between 2 and 9 units.
Property Size2,582 SF
Price / SF$416.34
Days on Market385
Property Features for 2619 Southwest 5th Street
General Information
- Standard status
- Active
- Size
- 2,582 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1925
Listing agency
Coldwell Banker Realty
(305) 253-2800
Listed by
Sergio Velarde · License #3436809
(305) 253-2800
Source
Compass
Added: Jul 3, 2025 Updated: Jul 21 at 7:43AM Checked: Jul 22 at 7:31AM
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
Investment Insights
Based on property information with market context.
For sale, this 4/4 multi-family home sits on a land parcel zoned and approved for development between 2 and 9 units. The property presents an opportunity to live in the existing layout while planning for redevelopment possibilities on the same site.
The address is 2619 Southwest 5th Street in Miami, with remarks noting the site is in the center of Miami for easy access in multiple directions.
As a land-zoned, multi-unit approved parcel with an existing 4/4 structure, this property may be a practical fit for buyers evaluating redevelopment scope and an approach centered on changing the site capacity within the approved unit range.
The address is 2619 Southwest 5th Street in Miami, with remarks noting the site is in the center of Miami for easy access in multiple directions.
As a land-zoned, multi-unit approved parcel with an existing 4/4 structure, this property may be a practical fit for buyers evaluating redevelopment scope and an approach centered on changing the site capacity within the approved unit range.
Key Highlights
- 4/4 existing multifamily home built in 1925
- Land zoned approved for development between 2 and 9 units
- Designed to support multiple strategies including living, flipping, renting, or AirBnB
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 | $79.0k | $30.60 |
| − Vacancy | −$5.0k | −$1.95 |
| EGI | $74.0k | $28.65 |
| − OpEx | −$22.2k | −$8.60 |
| NOI | $51.8k | $20.06 |
2,582 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$739.8K
$647.3K – $863.1K
NOI $51,783 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$681.4K
$596.2K – $795.0K
NOI $47,698 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$1.74M
$1.53M – $2.03M
NOI $122,001 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Existing 4/4 multi-family home with land approval for development between 2 and 9 units.
Where is this quadplex located?
The property is located at 2619 Southwest 5th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 4/4 existing multifamily home built in 1925; Land zoned approved for development between 2 and 9 units; Designed to support multiple strategies including living, flipping, renting, or AirBnB
