Renovated 8-Unit Multifamily
For Sale
Contact for pricing
48 NW 13TH AVE, Miami, FL 33125
A fully renovated 8-unit multifamily property with a 2-bedroom and 1-bedroom unit mix and impact windows.
Property Size6,205 SF
Lot Size0.11 Acres
Price / SF$370.67
Days on Market147
Property Features for 48 NW 13TH AVE
General Information
Standard status
Active
Size
6,205 SF
Lot size
0.11 Acres
Property subtype
Multifamily
Zoning
T5-L
Occupancy
100%
Net Operating Income
$117,421
Additional Details
Multifamily Units
8
Building Details
Year Built
1925
Buildings
1
Stories
2
Units
8
Listing Agency:
Eleven Trust Real Estate Services
Listed By:
David Fermoselle · License #3306806
(305) 299-4124
Source:
Crexi
Added: May 28
Changed: Oct 13
Last Checked: Oct 20 at 8:54PM
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 Eleven Trust Real Estate Services
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Investment Insights
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This renovated 8-unit multifamily building was originally built in 1925 and features four 2-bedroom/1-bath units and four 1-bedroom/1-bath units. The property has undergone extensive updates, including new impact windows, updated kitchens and bathrooms, modern flooring, and split A/C units throughout.
The building is located at 48 NW 13th Ave in Miami, FL 33125. The site sits on a 5,000 square foot lot zoned T5-L and is positioned just steps from LoanDepot Park, with nearby parks, restaurants, shopping, and public transportation.
With its established unit mix and recent interior and system improvements, the property is positioned for straightforward occupancy. The lot zoning provides for continued flexibility for future use planning in accordance with applicable regulations.
The building is located at 48 NW 13th Ave in Miami, FL 33125. The site sits on a 5,000 square foot lot zoned T5-L and is positioned just steps from LoanDepot Park, with nearby parks, restaurants, shopping, and public transportation.
With its established unit mix and recent interior and system improvements, the property is positioned for straightforward occupancy. The lot zoning provides for continued flexibility for future use planning in accordance with applicable regulations.
Key Highlights
- Fully renovated 8‑unit multifamily building built in 1925
- Unit mix: (4) 2BD/1BA and (4) 1BD/1BA
- Renovations include new impact windows, updated kitchens and bathrooms, and modern flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,627
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,292,540
$2.3M
Cap Rate 7%
$1,637,529
$1.6M
Cap Rate 9%
$1,273,633
$1.3M
Market Conditions
NOI Build-Up for 6,205 SF
Gross rent
$223.4K $36.00/SF
− Vacancy
−$15.0K −$2.41/SF
EGI
$208.4K $33.59/SF
− OpEx
−$93.8K −$15.11/SF
NOI
$114.6K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,292,540
Cap Rate 7%
$1,637,529
Cap Rate 9%
$1,273,633
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,627 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.19M
$3.66M – $4.89M
NOI $293,189 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,125
Businesses Nearby
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Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A fully renovated 8-unit multifamily property with a 2-bedroom and 1-bedroom unit mix and impact windows.
Where is this apartment building located?
The property is located at 48 NW 13TH AVE Miami, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Fully renovated 8‑unit multifamily building built in 1925; Unit mix: (4) 2BD/1BA and (4) 1BD/1BA; Renovations include new impact windows, updated kitchens and bathrooms, and modern flooring
