Gated Duplex with
3611 Southwest 23rd Street Miami, FL 33145
For Sale
$1,150,000
Updated gated duplex with indoor parking, impact windows, central A/C, and a shared pool on a 9,000 sf lot.
Property Size2,525 SF
Lot Size0.21 Acres
Price / SF$455.45
Days on Market65
Property Features for 3611 Southwest 23rd Street
General Information
- Standard status
- Active
- Size
- 2,525 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1967
Listing Agency:
BHHS EWM Realty
(305) 960-2400
Listed By:
Ileana Larrubia · License #3028769
(305) 960-2400
Source:
Compass
Added: May 20
Changed: Jul 21
Last Checked: Jul 23 at 11:19AM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This updated gated duplex is set on a 9,000 sf lot and includes electric remote-control gates, inside parking, and impact windows. Interior features include central A/C, on-demand water heaters, tile flooring throughout, updated kitchen and bathrooms, and modern lighting with ceiling fans and window treatments. The property also has laundry/utility rooms and is wired for security cameras.
The front unit is a 2 bed/1 bath arrangement with excellent tenants. The back unit is owner-occupied and offers 3 bed/2 bath living with an open kitchen featuring granite countertops and stainless steel appliances, a family room, ample closets, and an expansive outdoor area. Outdoor amenities include a pool, deck, open terrace, and a storage shed.
With two residential units and interior and outdoor upgrades already in place, the property is presented as a move-in ready duplex option.
The front unit is a 2 bed/1 bath arrangement with excellent tenants. The back unit is owner-occupied and offers 3 bed/2 bath living with an open kitchen featuring granite countertops and stainless steel appliances, a family room, ample closets, and an expansive outdoor area. Outdoor amenities include a pool, deck, open terrace, and a storage shed.
With two residential units and interior and outdoor upgrades already in place, the property is presented as a move-in ready duplex option.
Key Highlights
- Gated duplex on a 9,000 SF lot with a pool, plus deck, open terrace, and a storage shed
- Electric remote‑control gates and inside parking for both units
- Impact windows, central A/C, and on‑demand water heaters
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 | $77.3k | $30.60 |
| − Vacancy | −$4.9k | −$1.95 |
| EGI | $72.3k | $28.65 |
| − OpEx | −$21.7k | −$8.60 |
| NOI | $50.6k | $20.06 |
2,525 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$723.4K
$633.0K – $844.0K
NOI $50,640 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$666.4K
$583.1K – $777.4K
NOI $46,645 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$1.70M
$1.49M – $1.99M
NOI $119,307 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Updated gated duplex with indoor parking, impact windows, central A/C, and a shared pool on a 9,000 sf lot.
Where is this duplex located?
The property is located at 3611 Southwest 23rd Street Miami, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Gated duplex on a 9,000 SF lot with a pool, plus deck, open terrace, and a storage shed; Electric remote‑control gates and inside parking for both units; Impact windows, central A/C, and on‑demand water heaters
