Log In/Sign Up
Your email has been sent.
Allapattah 23 2311-2325 NW 22nd Ave 23 Unit Apartment Building $9,500,000 ($413,043/Unit) 5.06% Cap Rate Miami, FL 33142
Investment Highlights
- Allapattah area just northwest of Downtown Miami excellent connectivity to Dolphin Expressway, I-95 and Miami International Airport
Executive Summary
An exceptional opportunity to acquire a newly constructed, 23- unit multifamily (plus 12 storage units) property located at 2311 NW 22nd Avenue in Miami, Florida. The property offers immediate cash flow with stable in-place NOI of $480,918 (96% occupancy) and additional upside potential. Strategically positioned in one of Miami's rapidly evolving neighborhood and adjacent to Wynwood, Jackson Health System, Miami Design District, Miami International Airport, Downtown/Brickell and Miami Beach. The property is being offered at $238 by SF, which represents a considerably discount to repositioning cost, creating an attractive basis for investors.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$894,300
|
$22.44
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$44,715
|
$1.12
|
| Effective Gross Income |
$849,585
|
$21.32
|
| Taxes |
$134,602
|
$3.38
|
| Operating Expenses |
$104,702
|
$2.63
|
| Total Expenses |
$239,304
|
$6.00
|
| Net Operating Income |
$610,281
|
$15.31
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $894,300 |
| Annual Per SF | $22.44 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $44,715 |
| Annual Per SF | $1.12 |
| Effective Gross Income | |
|---|---|
| Annual | $849,585 |
| Annual Per SF | $21.32 |
| Taxes | |
|---|---|
| Annual | $134,602 |
| Annual Per SF | $3.38 |
| Operating Expenses | |
|---|---|
| Annual | $104,702 |
| Annual Per SF | $2.63 |
| Total Expenses | |
|---|---|
| Annual | $239,304 |
| Annual Per SF | $6.00 |
| Net Operating Income | |
|---|---|
| Annual | $610,281 |
| Annual Per SF | $15.31 |
Property Facts
Amenities
Unit Amenities
- Storage Space
Site Amenities
- 24 Hour Access
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,000 | 705 - 772 |
| 2+1 | 7 | $2,389 | 871 - 1,039 |
| 2+2 | 3 | $2,597 | 1,106 - 1,231 |
| 3+2 | 9 | $2,997 | 1,420 |
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01-3127-018-0142 | Total Assessment | $5,500,000 (2025) |
| Land Assessment | $872,135 (2025) | Annual Taxes | $134,602 ($3.38/SF) |
| Improvements Assessment | $4,627,865 (2025) | Tax Year | 2026 Payable 2027 |
Property Taxes
Parcel Number
01-3127-018-0142
Land Assessment
$872,135 (2025)
Improvements Assessment
$4,627,865 (2025)
Total Assessment
$5,500,000 (2025)
Annual Taxes
$134,602 ($3.38/SF)
Tax Year
2026 Payable 2027
1 of 31
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
