Renovated 10-Unit Apartment
For Sale
$2,500,000
1630 SW 10th St, Miami, FL 33135
Residential Income, Miami, FL
Property Size6,207 SF
Price / SF$402.77
Days on Market65
Property Features for 1630 SW 10th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
0100
Bedrooms
14
Full bathrooms
8
Rooms
Bathroom 8, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 7, Bedroom 12, Bedroom 9, Bathroom 1, Bedroom 6, Bedroom 11, Bedroom 10, Bathroom 6, Bedroom 7, Bathroom 5, Bedroom 14, Bedroom 1, Bedroom 3, Bedroom 8, Bathroom 2, Bedroom 5, Bedroom 13
Subdivision
SHENANDOAH
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-063-0650
Size
6,207 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
10 11 54 41 SHENANDOAH PB 8-90 LOT 9 BLK 5 LOT SIZE 50.000 X 118 OR 20575-3281 07 2002 1
Tax Annual Amount
33334
Legal Description
10 11 54 41 SHENANDOAH PB 8-90 LOT 9 BLK 5 LOT SIZE 50.000 X 118 OR 20575-3281 07 2002 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1922
Floors in Building
2
Flooring type
Vinyl
Building materials
Block
Roof type
Flat
Architectural style
Other
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Keith Terrel · License #3379396
(786) 469-1718
Added: Jul 18
Changed: Sep 12
Last Checked: Sep 20 at 2:06PM
MLS# A11959197
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,207-square-foot apartment property contains 10 units and was originally built in 1922. The units have undergone comprehensive renovations that include refreshed kitchens, updated bathrooms, and vinyl flooring, while a new flat roof adds to the building improvements. Block construction, electric heating, electric cooling, public water, and public sewer serve the property.
Located at 1630 SW 10th St in Miami, the building is near major highways, Downtown Miami, Brickell, Coral Gables, and public transportation. The property is fully occupied and offers a renovated multifamily configuration in an established Miami setting.
Located at 1630 SW 10th St in Miami, the building is near major highways, Downtown Miami, Brickell, Coral Gables, and public transportation. The property is fully occupied and offers a renovated multifamily configuration in an established Miami setting.
Key Highlights
- 10‑unit apartment property with full occupancy
- 6,207 square feet of building area
- Renovated kitchens, bathrooms, and vinyl flooring throughout the units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,664
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,293,280
$2.3M
Cap Rate 7%
$1,638,057
$1.6M
Cap Rate 9%
$1,274,044
$1.3M
Market Conditions
NOI Build-Up for 6,207 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$223.5K $36.00/SF
− Vacancy
−$15.0K −$2.41/SF
EGI
$208.5K $33.59/SF
− OpEx
−$93.8K −$15.11/SF
NOI
$114.7K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,293,280
Cap Rate 7%
$1,638,057
Cap Rate 9%
$1,274,044
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,664 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.19M
$3.67M – $4.89M
NOI $293,284 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated multifamily asset with a new roof, updated kitchens and bathrooms, and full occupancy.
Where is this apartment building located?
The property is located at 1630 SW 10th St Miami, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 10‑unit apartment property with full occupancy; 6,207 square feet of building area; Renovated kitchens, bathrooms, and vinyl flooring throughout the units
