Six-Unit Multifamily Investment
641 NW 2nd Street Miami, FL 33128
641 NW 2nd Street, Miami, FL, 33128
$1,799,999
For Sale
$1,799,999
Six two-bedroom, one-bath units on a 7,500 SF lot with assigned parking and on-site laundry.
Property Size4,688 SF
Lot Size0.17 Acres
Price / SF$383.96
Days on Market91
Property Features for 641 NW 2nd Street
General Information
- Standard status
- Active
- Size
- 4,688 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1972
Listing agency
Avenew Realty Corp
(786) 877-9520
Listed by
Ander Egurrola · License #3388802
(786) 877-9520
Source
Xome
Added: Apr 23 Updated: Jul 13 at 2:44AM Checked: Jul 16 at 6:15AM
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 Avenew Realty Corp
Investment Insights
Based on property information with market context.
This six-unit multifamily property features all 2-bedroom, 1-bathroom units. The building includes on-site laundry and each unit has assigned parking. The property has been significantly upgraded, including a new roof, updated electrical and plumbing systems, and completed 40-year recertification.
The property is located at 641 NW 2nd Street in Miami, Florida (Little River area per the remarks). It sits on a 7,500 SF lot and is described as being zoned T6-8-O.
For buyers seeking an income-producing asset, this configuration supports straightforward operations with consistent unit mix, assigned parking, and shared laundry facilities within the building.
The property is located at 641 NW 2nd Street in Miami, Florida (Little River area per the remarks). It sits on a 7,500 SF lot and is described as being zoned T6-8-O.
For buyers seeking an income-producing asset, this configuration supports straightforward operations with consistent unit mix, assigned parking, and shared laundry facilities within the building.
Key Highlights
- Six 2‑bedroom, 1‑bath units in a multifamily building
- All units have assigned parking; parking included as part of the offering
- On‑site laundry available for tenants
Local Financial Insights For Apartment 5plus
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 | $168.8k | $36.00 |
| − Vacancy | −$11.3k | −$2.41 |
| EGI | $157.5k | $33.59 |
| − OpEx | −$70.9k | −$15.11 |
| NOI | $86.6k | $18.47 |
4,688 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,603 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.16M
$2.77M – $3.69M
NOI $221,510 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
LE CODE
Vacation Rental
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six two-bedroom, one-bath units on a 7,500 SF lot with assigned parking and on-site laundry.
Where is this apartment building located?
The property is located at 641 NW 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Six 2‑bedroom, 1‑bath units in a multifamily building; All units have assigned parking; parking included as part of the offering; On‑site laundry available for tenants
