4-Unit Miami
New
For Sale
$1,350,000
922 NW 2nd St, Miami, FL 33128
The unit mix includes two- and three-bedroom apartments, each with one bathroom and assigned on-site parking.
Property Size2,354 SF
Lot Size0.14 Acres
Days on Market6
Property Features for 922 NW 2nd St
General Information
Standard status
Active
Size
2,354 SF
Lot size
0.14 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,212
Building Details
Building Size
2,354 SF
Year Built
1925
Buildings
1
Stories
2
Tenancy
Multi
Listed By:
Theresa Jacome PA
(305) 505-3840
Source:
Elliman
Added: Oct 16
Last Checked: Oct 19 at 7:50AM
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 Theresa Jacome PA
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.
Built in 1925, this four-unit multifamily property sits on a 6,000-square-foot lot in Miami’s Little Havana. The apartment mix comprises two 2-bedroom/1-bath units and two 3-bedroom/1-bath units. Improvements include updated electrical panels, a remodeled kitchen and bathrooms, new flooring, and a tankless water heater. Each apartment has assigned on-site parking, with additional street parking available.
The property is near Brickell, the Financial District, Marlins Stadium, Coral Gables, Coconut Grove, and Downtown. Major roadways, employment centers, and Miami International Airport are also accessible from the area. Existing violations and fines are to be assumed by the buyer.
The property is near Brickell, the Financial District, Marlins Stadium, Coral Gables, Coconut Grove, and Downtown. Major roadways, employment centers, and Miami International Airport are also accessible from the area. Existing violations and fines are to be assumed by the buyer.
Key Highlights
- Four apartments: two 2‑bedroom/1‑bath units and two 3‑bedroom/1‑bath units
- 6,000 SF lot; property built in 1925
- Assigned on‑site parking for each unit, plus street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,211
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,220
$944.2K
Cap Rate 7%
$674,443
$674.4K
Cap Rate 9%
$524,567
$524.6K
Market Conditions
NOI Build-Up for 2,354 SF
Gross rent
$72.0K $30.60/SF
− Vacancy
−$4.6K −$1.95/SF
EGI
$67.4K $28.65/SF
− OpEx
−$20.2K −$8.60/SF
NOI
$47.2K $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 Rate 5%
$944,220
Cap Rate 7%
$674,443
Cap Rate 9%
$524,567
Alternative Uses
Best Use
Multifamily LT 5
$674.4K
$590.1K – $786.9K
NOI $47,211 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$621.2K
$543.6K – $724.8K
NOI $43,486 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,228 @ 7.0% cap · market cap 8.24%
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
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 33128, FL
8,213
Population
4,533
Households
1.8
Avg Household Size
41
Median Age
22%
College-Educated
66%
High-School Grad
0.4 sq mi
ZIP Area
20,533
Density / Sq Mi
$36,308
Median Household Income
$32,082
Median Earnings
$1,316
Median Rent
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?
Quadplex - The unit mix includes two- and three-bedroom apartments, each with one bathroom and assigned on-site parking.
Where is this quadplex located?
The property is located at 922 NW 2nd St Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four apartments: two 2‑bedroom/1‑bath units and two 3‑bedroom/1‑bath units; 6,000 SF lot; property built in 1925; Assigned on‑site parking for each unit, plus street parking
