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6142 SW 40th Ct 2 Unit Apartment Building $479,000 ($239,500/Unit) 6.74% Cap Rate Miramar, FL 33023
Investment Highlights
- Owner Financing Available
Executive Summary
OWNER FINANCING AVAILABLE!!! Fantastic Find In The Heart Of Miramar! This Large Duplex Features A Spacious 3-Bedroom, 2-Bath Unit And A 1-Bedroom, 1-Bath Unit. The Property Needs Updating But Is Priced Accordingly. Current Rents Are Below Market, Offering Plenty Of Room For Growth. Current Gross Annual Income Is $38,400, With Potential Gross Income Exceeding $50,000. Annual Expenses Include Property Taxes Of $6,914, Estimated Insurance Of $4,000, Water And Trash Of Approximately $1,800, And Lawn Maintenance Of Approximately $600, For Total Annual Expenses Of $12,714. Priced To Sell!
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$45,000
|
$29.96
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$45,000
|
$29.96
|
| Taxes |
$6,914
|
$4.60
|
| Operating Expenses |
$5,800
|
$3.86
|
| Total Expenses |
$12,714
|
$8.46
|
| Net Operating Income |
$32,286
|
$21.50
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $45,000 |
| Annual Per SF | $29.96 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $45,000 |
| Annual Per SF | $29.96 |
| Taxes | |
|---|---|
| Annual | $6,914 |
| Annual Per SF | $4.60 |
| Operating Expenses | |
|---|---|
| Annual | $5,800 |
| Annual Per SF | $3.86 |
| Total Expenses | |
|---|---|
| Annual | $12,714 |
| Annual Per SF | $8.46 |
| Net Operating Income | |
|---|---|
| Annual | $32,286 |
| Annual Per SF | $21.50 |
Property Facts
| Price | $479,000 | Apartment Style | Low-Rise |
| Price Per Unit | $239,500 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 1,502 SF |
| Cap Rate | 6.74% | Average Occupancy | 50% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM4 | ||
| Price | $479,000 |
| Price Per Unit | $239,500 |
| Sale Type | Investment |
| Cap Rate | 6.74% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.12 AC |
| Building Size | 1,502 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built | 1965 |
| Opportunity Zone |
Yes |
| Zoning | RM4 |
Amenities
Unit Amenities
- Air Conditioning
- Lawn
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $2,000 | - |
| 1+1 | 1 | $1,500 | - |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 51-41-25-13-0270 | Total Assessment | $284,570 |
| Land Assessment | $0 | Annual Taxes | $6,914 ($4.60/SF) |
| Improvements Assessment | $0 | Tax Year | 2026 |
Property Taxes
Parcel Number
51-41-25-13-0270
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$284,570
Annual Taxes
$6,914 ($4.60/SF)
Tax Year
2026
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6142 SW 40th Ct