Tenant-Occupied Duplex With Two Unit
For Sale
$800,000
Pending
7358 - 7360 SW 23rd St, Miami, FL 33155
MULTI_FAMILY - Miami, FL
Property Size2,369 SF
Days on Market32
Property Features for 7358 - 7360 SW 23rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1
Parking
6
Subdivision
CORAL TERRACE SEC 2
Lot features
< 1/4 Acre
Standard status
Pending
APN
30-40-11-020-0990
Size
2,369 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
11 54 40 CORAL TERR SEC NO 2 PB 14-58 LOT 57 & 57-A BLK F LOT SIZE 50.000 X 175 OR 12047-2552 0284 4 25258-1784
Tax Annual Amount
12144
Legal Description
11 54 40 CORAL TERR SEC NO 2 PB 14-58 LOT 57 & 57-A BLK F LOT SIZE 50.000 X 175 OR 12047-2552 0284 4 25258-1784
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1977
Floors in Building
1
Building materials
Block
Roof type
Concrete
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Antonio Cristobal · License #3253230
(786) 457-3211
Added: Jul 17
Changed: Aug 3
Last Checked: Aug 17 at 3:06AM
MLS# A12015788
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story duplex offers two separate tenant-occupied units. The larger unit is a 3-bedroom, 2-bath layout, and the second unit is a 2-bedroom, 1-bath layout, each described as having functional arrangements and ample natural light. The property is approximately 2,369 square feet and was built in 1977 with block construction.
The duplex is served by public sewer and includes electric heating and central air conditioning. The roof is concrete, supporting a durable exterior for day-to-day operations.
On-site parking is provided for residents. With both units currently occupied, the property supports immediate rental activity for an investor seeking a residential income asset.
The duplex is served by public sewer and includes electric heating and central air conditioning. The roof is concrete, supporting a durable exterior for day-to-day operations.
On-site parking is provided for residents. With both units currently occupied, the property supports immediate rental activity for an investor seeking a residential income asset.
Key Highlights
- Two tenant‑occupied units: 3‑bedroom/2‑bath and 2‑bedroom/1‑bath
- Single‑story duplex totaling about 2,369 square feet
- Built in 1977 with block construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,512
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$950,240
$950.2K
Cap Rate 7%
$678,743
$678.7K
Cap Rate 9%
$527,911
$527.9K
Market Conditions
NOI Build-Up for 2,369 SF
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.
Gross rent
$72.5K $30.60/SF
− Vacancy
−$4.6K −$1.95/SF
EGI
$67.9K $28.65/SF
− OpEx
−$20.4K −$8.60/SF
NOI
$47.5K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$950,240
Cap Rate 7%
$678,743
Cap Rate 9%
$527,911
Alternative Uses
Best Use
Multifamily LT 5
$678.7K
$593.9K – $791.9K
NOI $47,512 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$625.2K
$547.0K – $729.4K
NOI $43,763 @ 7.0% cap · market cap 5.47%
Theoretical Best
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $111,936 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Single-story duplex with two tenant-occupied units: one 3-bedroom, 2-bath and one 2-bedroom, 1-bath.
Where is this duplex located?
The property is located at 7358 - 7360 SW 23rd St Miami, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two tenant‑occupied units: 3‑bedroom/2‑bath and 2‑bedroom/1‑bath; Single‑story duplex totaling about 2,369 square feet; Built in 1977 with block construction
