Renovated 9-Unit Apartment
For Sale
$1,750,000
6743 Northwest 2nd Court, Miami, FL 33150
Income-producing multifamily property with updated interiors, gated parking, and a varied one- and two-bedroom unit mix.
Property Size3,872 SF
Price / SF$451.96
Days on Market932
Property Features for 6743 Northwest 2nd Court
General Information
Standard status
Active
Size
3,872 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Taxes and HOA fees
Annual Taxes
$13,763
Building Details
Year Built
1941
Listing Agency:
London Foster Realty
Listed By:
Ian Lazaro Osorio · License #3442018
(305) 514-0100
Source:
Compass
Added: Apr 2, 2024
Changed: Oct 11
Last Checked: Oct 19 at 9:12AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9-unit apartment property contains 3,872 SF and was built in 1941. The unit mix includes one 2BD/2BA apartment, two 2BD/1BA apartments, and six 1BD/1BA apartments. Renovations include new flooring, bathrooms, kitchens, and stainless steel appliances. The property also has a newer roof and a passed 40-year recertification.
Located at 6743 Northwest 2nd Court in Miami, the property is 5 minutes from the MiMo District, Design District, and Wynwood, 10 minutes from Downtown Miami and Miami Beach, and 4 minutes from the Magic City Innovation District. On-site parking is provided within a gated lot. The stated cap rate is 6.12%.
Located at 6743 Northwest 2nd Court in Miami, the property is 5 minutes from the MiMo District, Design District, and Wynwood, 10 minutes from Downtown Miami and Miami Beach, and 4 minutes from the Magic City Innovation District. On-site parking is provided within a gated lot. The stated cap rate is 6.12%.
Key Highlights
- 9‑unit multifamily property with a 6.12% cap rate
- 3,872 SF building constructed in 1941
- Unit mix: 1 - 2BD/2BA, 2 - 2BD/1BA, and 6 - 1BD/1BA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,529
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,430,580
$1.4M
Cap Rate 7%
$1,021,843
$1.0M
Cap Rate 9%
$794,767
$794.8K
Market Conditions
NOI Build-Up for 3,872 SF
Gross rent
$139.4K $36.00/SF
− Vacancy
−$9.3K −$2.41/SF
EGI
$130.1K $33.59/SF
− OpEx
−$58.5K −$15.11/SF
NOI
$71.5K $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%
$1,430,580
Cap Rate 7%
$1,021,843
Cap Rate 9%
$794,767
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$894.1K – $1.19M
NOI $71,529 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.61M
$2.29M – $3.05M
NOI $182,954 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing multifamily property with updated interiors, gated parking, and a varied one- and two-bedroom unit mix.
Where is this apartment building located?
The property is located at 6743 Northwest 2nd Court Miami, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 9‑unit multifamily property with a 6.12% cap rate; 3,872 SF building constructed in 1941; Unit mix: 1 - 2BD/2BA, 2 - 2BD/1BA, and 6 - 1BD/1BA
