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Allapattah 23 2311-2325 NW 22nd Ave 23 Unit Apartment Building $13,253,450 CAD ($576,237 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,247,638
|
$31.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$62,382
|
$1.57
|
| Effective Gross Income |
$1,185,256
|
$29.74
|
| Taxes |
$187,783
|
$4.71
|
| Operating Expenses |
$146,070
|
$3.67
|
| Total Expenses |
$333,853
|
$8.38
|
| Net Operating Income |
$851,403
|
$21.36
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,247,638 |
| Annual Per SF | $31.30 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $62,382 |
| Annual Per SF | $1.57 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,185,256 |
| Annual Per SF | $29.74 |
| Taxes (CAD) | |
|---|---|
| Annual | $187,783 |
| Annual Per SF | $4.71 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $146,070 |
| Annual Per SF | $3.67 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $333,853 |
| Annual Per SF | $8.38 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $851,403 |
| Annual Per SF | $21.36 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Storage Space
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,790 CAD | 705 - 772 |
| 2+1 | 7 | $3,333 CAD | 871 - 1,039 |
| 2+2 | 3 | $3,623 CAD | 1,106 - 1,231 |
| 3+2 | 9 | $4,181 CAD | 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 | $7,708,855 CAD (2025) |
| Land Assessment | $1,222,393 CAD (2025) | Annual Taxes | $187,783 CAD ($4.71 CAD/SF) |
| Improvements Assessment | $6,486,462 CAD (2025) | Tax Year | 2026 Payable 2027 |
Property Taxes
Parcel Number
01-3127-018-0142
Land Assessment
$1,222,393 CAD (2025)
Improvements Assessment
$6,486,462 CAD (2025)
Total Assessment
$7,708,855 CAD (2025)
Annual Taxes
$187,783 CAD ($4.71 CAD/SF)
Tax Year
2026 Payable 2027
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Allapattah 23 | 2311-2325 NW 22nd Ave
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