Duplex with Painted
For Sale
$789,000
3405 SW 24th St, Miami, FL 33145
Two tenant-occupied units are leased on a month-to-month basis in a central Miami location.
Property Size1,618 SF
Price / SF$487.64
Days on Market51
Property Features for 3405 SW 24th St
General Information
Standard status
Active
Size
1,618 SF
Property subtype
Duplex
Site & Location
Neighborhood
Douglas Park
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,690
Building Details
Building Size
1,618 SF
Year Built
1979
Listing Agency:
Premier Real Estate Sales Inc.
Listed By:
Bonnie McDonald · License #3306517
(786) 346-9062
Source:
Allyandaj
Added: Sep 11
Changed: Oct 28
Last Checked: Oct 30 at 8:44PM
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 Premier Real Estate Sales Inc.
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Investment Insights
Based on property information with market context.
Built in 1979, this duplex includes two tenant-occupied units, with both tenancies currently structured on a month-to-month basis. One side has impact windows, and the exterior has been painted recently.
The property is located at 3405 SW 24th St in Miami, with Coconut Grove and Coral Gables each approximately a four-minute drive away. Showings are available after 10:30 a.m. by appointment through the listing agents; tenants should not be disturbed.
The property is located at 3405 SW 24th St in Miami, with Coconut Grove and Coral Gables each approximately a four-minute drive away. Showings are available after 10:30 a.m. by appointment through the listing agents; tenants should not be disturbed.
Key Highlights
- Duplex built in 1979
- Both tenants are on month‑to‑month agreements
- One side features impact windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,450
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$649,000
$649.0K
Cap Rate 7%
$463,571
$463.6K
Cap Rate 9%
$360,556
$360.6K
Market Conditions
NOI Build-Up for 1,618 SF
Gross rent
$49.5K $30.60/SF
− Vacancy
−$3.2K −$1.95/SF
EGI
$46.4K $28.65/SF
− OpEx
−$13.9K −$8.60/SF
NOI
$32.4K $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%
$649,000
Cap Rate 7%
$463,571
Cap Rate 9%
$360,556
Alternative Uses
Best Use
Multifamily LT 5
$463.6K
$405.6K – $540.8K
NOI $32,450 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$427.0K
$373.6K – $498.2K
NOI $29,890 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$1.09M
$955.6K – $1.27M
NOI $76,451 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
7,160
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two tenant-occupied units are leased on a month-to-month basis in a central Miami location.
Where is this duplex located?
The property is located at 3405 SW 24th St Miami, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Duplex built in 1979; Both tenants are on month‑to‑month agreements; One side features impact windows
