Duplex with Vacant
5620 NW 3rd Ave Miami, FL 33127
For Sale
Contact for pricing
Duplex offering two units, with one month-to-month tenant and one vacant unit needing TLC.
Property Size1,632 SF
Price / SF$306.37
Days on Market125
Property Features for 5620 NW 3rd Ave
General Information
- Standard status
- Active
- Size
- 1,632 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1957
Listing Agency:
KPI International Realty LLC
Listed By:
Vladi Klurman · License #3267213
Source:
Crexi
Added: Mar 22
Changed: Jul 22
Last Checked: Jul 23 at 9:47AM
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 KPI International Realty LLC
Investment Insights
Based on property information with market context.
This duplex features two residential units. One unit is currently rented on a month-to-month basis, while the second unit is vacant and requires TLC, with some renovation already underway. The property also has a planned roof replacement, which may help reduce near-term capital requirements.
Located at 5620 NW 3rd Ave in Miami, the property is positioned within a neighborhood described as fast-evolving, with increased redevelopment activity referenced in the remarks.
The asset is sized at 1,632 square feet and is being offered for sale as a residential income property.
Located at 5620 NW 3rd Ave in Miami, the property is positioned within a neighborhood described as fast-evolving, with increased redevelopment activity referenced in the remarks.
The asset is sized at 1,632 square feet and is being offered for sale as a residential income property.
Key Highlights
- Duplex built in 1957 with 2 units
- One unit is currently rented on a month‑to‑month basis
- Second unit is vacant and needs TLC (some renovation already underway)
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 | $49.9k | $30.60 |
| − Vacancy | −$3.2k | −$1.95 |
| EGI | $46.8k | $28.65 |
| − OpEx | −$14.0k | −$8.60 |
| NOI | $32.7k | $20.06 |
1,632 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$467.6K
$409.1K – $545.5K
NOI $32,731 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$430.7K
$376.9K – $502.5K
NOI $30,149 @ 7.0% cap · market cap 6.03%
Theoretical Best
Specialty Retail
$1.10M
$963.9K – $1.29M
NOI $77,113 @ 7.0% cap · market cap 15.42%
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 - Duplex offering two units, with one month-to-month tenant and one vacant unit needing TLC.
Where is this duplex located?
The property is located at 5620 NW 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Duplex built in 1957 with 2 units; One unit is currently rented on a month‑to‑month basis; Second unit is vacant and needs TLC (some renovation already underway)
