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1864 NW 28th St 5 Unit Apartment Building $1,499,999 ($300,000/Unit) 5.60% Cap Rate Miami, FL 33142
INVESTMENT HIGHLIGHTS
- Fenced Lot
- Impact Glass Throughout
- Updated Units - Kitchen, Bathrooms, Interiors
EXECUTIVE SUMMARY
Turnkey 5-unit multifamily in fast-growing Allapattah area. Property sits on a gated 9,975 SF lot with on-site parking and upgraded interiors. (3) 1BD + (2) 2BD units. Recent renovations include new kitchens, new bathrooms, impact windows, and updated interiors. Features separate electric meters, low operating expenses, and on-site laundry. Strong Section 8 rental potential and upside in rents. Zoning (T4-R) allows for value-add or redevelopment potential. Ideal for buy-and-hold investors, 1031 exchange buyers, or cash-flow seeking operators seeking a Miami multifamily asset. Located minutes to Wynwood, Midtown, Health District, and major highways. Great income-producing opportunity with long-term appreciation in Miami’s urban core.
Call listing agent or co-listing agent, for more details.
Co-Listing Agent: Brandon Sors - (305) 904 0974
Call listing agent or co-listing agent, for more details.
Co-Listing Agent: Brandon Sors - (305) 904 0974
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$120,600
|
$37.69
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$120,600
|
$37.69
|
| Taxes |
$26,999
|
$8.44
|
| Operating Expenses |
$9,740
|
$3.04
|
| Total Expenses |
$36,739
|
$11.48
|
| Net Operating Income |
$83,861
|
$26.21
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $120,600 |
| Annual Per SF | $37.69 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $120,600 |
| Annual Per SF | $37.69 |
| Taxes | |
|---|---|
| Annual | $26,999 |
| Annual Per SF | $8.44 |
| Operating Expenses | |
|---|---|
| Annual | $9,740 |
| Annual Per SF | $3.04 |
| Total Expenses | |
|---|---|
| Annual | $36,739 |
| Annual Per SF | $11.48 |
| Net Operating Income | |
|---|---|
| Annual | $83,861 |
| Annual Per SF | $26.21 |
PROPERTY FACTS
| Price | $1,499,999 | Building Class | C |
| Price Per Unit | $300,000 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 3,200 SF |
| Cap Rate | 5.60% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | Parking Ratio | 2.19/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | M-39 - Multiple Family | ||
| Price | $1,499,999 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 5.60% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 3,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1976 |
| Parking Ratio | 2.19/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | M-39 - Multiple Family |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Microwave
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Yard
- Freezer
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Gated
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $1,850 | 550 |
| 2+1 | 2 | $2,250 | 650 |
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 01-3127-038-0020 | Total Assessment | $784,626 (2025) |
| Land Assessment | $498,750 (2025) | Annual Taxes | $26,999 ($8.44/SF) |
| Improvements Assessment | $285,876 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
01-3127-038-0020
Land Assessment
$498,750 (2025)
Improvements Assessment
$285,876 (2025)
Total Assessment
$784,626 (2025)
Annual Taxes
$26,999 ($8.44/SF)
Tax Year
2024
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1864 NW 28th St
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