4-Unit
New
For Sale
Under Contract
$750,000
2041 SW 4th St, Miami, FL 33135
Residential Income, Miami, FL
Property Size2,481 SF
Price / SF$302.30
Days on Market3
Property Features for 2041 SW 4th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking
5
Subdivision
IDLEWILD PARK
Lot features
< 1/4 Acre
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active Under Contract
APN
01-41-03-014-2000
Size
2,481 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
3 54 41 IDLEWILD PARK PB 2-87 S84FT LOT 10 BLK 44 LOT SIZE 4200 SQUARE FEET OR 13294-3721 0587 1
Tax Annual Amount
8565
Legal Description
3 54 41 IDLEWILD PARK PB 2-87 S84FT LOT 10 BLK 44 LOT SIZE 4200 SQUARE FEET OR 13294-3721 0587 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1955
Floors in Building
2
Flooring type
Tile
Building materials
Block
Architectural style
Other
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Alejandro Alvarez Montero · License #3631925
(786) 834-7248
Added: Sep 4
Last Checked: Sep 6 at 12:06AM
MLS# A12083797
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 4-unit quadplex contains four one-bedroom, one-bathroom apartments within 2,481 square feet. Built in 1955, the block construction property includes tile flooring, electric heat, central air, and public sewer service. Separate electric and water meters serve each apartment.
The property is located at 2041 SW 4th St in Miami’s Little Havana neighborhood, with access to Downtown Miami, Brickell, Coral Gables, major highways, dining, shopping, and public transportation. The asset currently generates approximately $73,800 in annual gross income.
The property is located at 2041 SW 4th St in Miami’s Little Havana neighborhood, with access to Downtown Miami, Brickell, Coral Gables, major highways, dining, shopping, and public transportation. The asset currently generates approximately $73,800 in annual gross income.
Key Highlights
- Four 1‑bedroom, 1‑bathroom units
- 2,481 square feet across a 4‑unit quadplex
- Separate electric and water meters for each unit
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
$49,758
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
6.63%
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%
$995,160
$995.2K
Cap Rate 7%
$710,829
$710.8K
Cap Rate 9%
$552,867
$552.9K
Market Conditions
NOI Build-Up for 2,481 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
$75.9K $30.60/SF
− Vacancy
−$4.8K −$1.95/SF
EGI
$71.1K $28.65/SF
− OpEx
−$21.3K −$8.60/SF
NOI
$49.8K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$995,160
Cap Rate 7%
$710,829
Cap Rate 9%
$552,867
Alternative Uses
Best Use
Multifamily LT 5
$710.8K
$622.0K – $829.3K
NOI $49,758 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$654.8K
$572.9K – $763.9K
NOI $45,833 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$1.67M
$1.47M – $1.95M
NOI $117,228 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,661
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments with individual electric and water meters in Miami’s Little Havana neighborhood.
Where is this quadplex located?
The property is located at 2041 SW 4th St Miami, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bathroom units; 2,481 square feet across a 4‑unit quadplex; Separate electric and water meters for each unit
