Duplex with Central AC and Separate
For Sale
$1,390,000
405 SW 11th Ave, Miami, FL 33130
Duplex converted into two large units with central AC, separate meters, and updated electric and plumbing.
Property Size3,554 SF
Days on Market137
Property Features for 405 SW 11th Ave
General Information
Standard status
Active
Size
3,554 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Neighborhood
East Little Havana
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$15,611
Building Details
Building Size
3,554 SF
Year Built
1922
Tenancy
Multi
Listing Agency:
London Foster Realty
Listed By:
Charles Loredo · License #3074545
(786) 301-5334
Source:
Relinkre
Added: Jun 17
Changed: Oct 31
Last Checked: Oct 30 at 9:35PM
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 London Foster Realty
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Investment Insights
Based on property information with market context.
Duplex property legally converted to two large units, retaining period details. The home has updated electric and plumbing, plus central AC for comfortable year-round living. Each unit has its own separate meters.
The property is situated on a corner location in the heart of Miami. Zoning allows for expansion. A detached two-car garage includes an attached efficiency that could provide an additional unit option.
Built in 1922, this property is presented with owner financing, subject to an adequate down payment.
The property is situated on a corner location in the heart of Miami. Zoning allows for expansion. A detached two-car garage includes an attached efficiency that could provide an additional unit option.
Built in 1922, this property is presented with owner financing, subject to an adequate down payment.
Key Highlights
- Legally converted duplex with two large units
- Updated electric and plumbing plus central AC
- Separate meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,277
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,425,540
$1.4M
Cap Rate 7%
$1,018,243
$1.0M
Cap Rate 9%
$791,967
$792.0K
Market Conditions
NOI Build-Up for 3,554 SF
Gross rent
$108.8K $30.60/SF
− Vacancy
−$6.9K −$1.95/SF
EGI
$101.8K $28.65/SF
− OpEx
−$30.5K −$8.60/SF
NOI
$71.3K $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%
$1,425,540
Cap Rate 7%
$1,018,243
Cap Rate 9%
$791,967
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$891.0K – $1.19M
NOI $71,277 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$937.9K
$820.7K – $1.09M
NOI $65,654 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $167,928 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,773
Businesses Nearby
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Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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 - Duplex converted into two large units with central AC, separate meters, and updated electric and plumbing.
Where is this duplex located?
The property is located at 405 SW 11th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Legally converted duplex with two large units; Updated electric and plumbing plus central AC; Separate meters for each unit
