641 NW 2nd St Miami, FL 33128
4,688 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,688 sqft
Price per Sqft $426
MLS Listing ID A11989831
HOA Y/N No
Year Built 1972
Annual Tax Amount $26,931
Tax Year 2025
Lot Size 7,500 Sqft
Property Sub-Type Multi Family
Property Description
The property has been significantly upgraded with a new roof, updated electrical and plumbing systems, and completed 40-year recertification, providing a strong, low-risk foundation for any investor. Each unit includes assigned parking, and the building features on-site laundry, supporting tenant retention and operational efficiency.
Currently generating approximately $138,000 annually, with a clear path to ~$168,000 through rent adjustments, this asset offers both in-place income and immediate upside.
T6-8-O zoning allows for high-density multifamily or mixed-use development up to 8 stories, making this a true covered land play with long-term redevelopment potential.
Strategically located minutes from Wynwood, the Design District, and Downtown Miami, with easy access to major highways and strong rental demand.
A flexible investment that delivers income today and scales for the future.
Location
State FL
County Miami-dade
Area 41
Interior
Heating Window Unit, Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate
Exterior
Roof Type Shingle
Private Pool Yes
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Block
Others
Tax ID 01-02-00-040-1100
Security Features Fenced,Smoke Detector(s)
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11989831
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