Renovated Duplex Income
538 Northwest 20th Avenue Miami, FL 33125
538 Northwest 20th Avenue, Miami, FL, 33125
$965,000
For Sale
$965,000
Turn-key duplex recently renovated with new kitchens, flooring, paint, updated plumbing, and central AC.
Property Size2,666 SF
Price / SF$361.97
Days on Market151
Property Features for 538 Northwest 20th Avenue
General Information
- Standard status
- Active
- Size
- 2,666 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1946
Listing agency
Cervera Real Estate Inc.
(305) 374-3434
Listed by
Shaked Bar · License #3400933
(305) 374-3434
Source
Compass
Added: Feb 21 Updated: Jul 21 at 8:04AM Checked: Jul 21 at 8:04AM
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 Cervera Real Estate Inc.
Investment Insights
Based on property information with market context.
This recently renovated duplex income property includes significant capital upgrades throughout. Improvements cited in the updates include a new electrical riser, updated plumbing systems, new wood flooring, fresh interior and exterior paint, and newly installed central AC. Each residence includes in-unit convenience items and appliances, including a washer and dryer and an oven, with kitchens newly installed in both the front and rear units.
The property is presented as turn-key with stabilized income and minimal deferred maintenance, designed for investors seeking immediate cash flow.
Overall, the configuration is a duplex with separate front and rear residences, each updated with new kitchen installations and consistent interior finishes.
The property is presented as turn-key with stabilized income and minimal deferred maintenance, designed for investors seeking immediate cash flow.
Overall, the configuration is a duplex with separate front and rear residences, each updated with new kitchen installations and consistent interior finishes.
Key Highlights
- 1946‑built duplex recently renovated with new central AC
- New kitchens installed in both the front and rear residences
- New wood flooring throughout and fresh interior and exterior paint
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 | $81.6k | $30.60 |
| − Vacancy | −$5.2k | −$1.95 |
| EGI | $76.4k | $28.65 |
| − OpEx | −$22.9k | −$8.60 |
| NOI | $53.5k | $20.06 |
2,666 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$763.8K
$668.4K – $891.1K
NOI $53,468 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$703.6K
$615.6K – $820.8K
NOI $49,250 @ 7.0% cap · market cap 5.10%
Theoretical Best
Specialty Retail
$1.80M
$1.57M – $2.10M
NOI $125,970 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Turn-key duplex recently renovated with new kitchens, flooring, paint, updated plumbing, and central AC.
Where is this duplex located?
The property is located at 538 Northwest 20th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: 1946‑built duplex recently renovated with new central AC; New kitchens installed in both the front and rear residences; New wood flooring throughout and fresh interior and exterior paint
