Renovated 6-Unit Apartment
For Sale
$1,600,000
2190 SW 14th Ter, Miami, FL 33145
Residential Income, Miami, FL
Property Size3,290 SF
Price / SF$486.32
Days on Market42
Property Features for 2190 SW 14th Ter
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Bedrooms
1
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2
Parking
6
Subdivision
WESTMOOR
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-059-0311
Size
3,290 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
WESTMOOR PB 16-13 LOT 3 LESS W5FT FOR R/W BLK 4 LOT SIZE 46 X 103 OR 14648-1868 0790 1 COC 26159-0883 12 2007 1
Tax Annual Amount
15900
Legal Description
WESTMOOR PB 16-13 LOT 3 LESS W5FT FOR R/W BLK 4 LOT SIZE 46 X 103 OR 14648-1868 0790 1 COC 26159-0883 12 2007 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Electric, Zoned
Amenities
coinless laundry
Building Details
Year built
1957
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Jesse Spencer · License #3282789
(305) 632-7195
Added: Jul 18
Changed: Aug 27
Last Checked: Aug 28 at 7:06PM
MLS# A12018760
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 3,290-square-foot apartment property contains six units: two studios of approximately 450 SF and four one-bedroom, one-bath apartments of approximately 600 SF each. Every residence has an assigned on-site parking space. The building was comprehensively renovated in 2020 with new tile flooring, kitchens, bathrooms, electrical service, perimeter fencing, a shingle roof, hurricane-rated impact windows and doors, and tankless water heaters. Cooling is provided by individual mini-split systems, with central AC in one unit. The property also includes an owned coinless laundry facility.
Located at 2190 SW 14th Ter in Miami’s Shenandoah corridor, the property is minutes from Brickell, the Health District, Coral Gables, Coconut Grove, and Calle Ocho. Public sewer and cable availability serve the site, while block construction supports the building’s durable physical profile. Leases extend through mid-2027, and the property is fully leased.
Located at 2190 SW 14th Ter in Miami’s Shenandoah corridor, the property is minutes from Brickell, the Health District, Coral Gables, Coconut Grove, and Calle Ocho. Public sewer and cable availability serve the site, while block construction supports the building’s durable physical profile. Leases extend through mid-2027, and the property is fully leased.
Key Highlights
- 3,290‑square‑foot multifamily building with 6 units
- Unit mix includes 2 studios at approximately 450 SF and 4 one‑bedroom apartments at approximately 600 SF
- Comprehensive 2020 renovation included roof, electrical, interiors, windows, doors, and plumbing‑related improvements
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
$60,777
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
3.80%
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%
$1,215,540
$1.2M
Cap Rate 7%
$868,243
$868.2K
Cap Rate 9%
$675,300
$675.3K
Market Conditions
NOI Build-Up for 3,290 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
$118.4K $36.00/SF
− Vacancy
−$7.9K −$2.41/SF
EGI
$110.5K $33.59/SF
− OpEx
−$49.7K −$15.11/SF
NOI
$60.8K $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%
$1,215,540
Cap Rate 7%
$868,243
Cap Rate 9%
$675,300
Alternative Uses
Best Use
Apartment 5plus
$868.2K
$759.7K – $1.01M
NOI $60,777 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.22M
$1.94M – $2.59M
NOI $155,454 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
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 leased multifamily asset with assigned parking, updated systems, and individually controlled cooling.
Where is this apartment building located?
The property is located at 2190 SW 14th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 3,290‑square‑foot multifamily building with 6 units; Unit mix includes 2 studios at approximately 450 SF and 4 one‑bedroom apartments at approximately 600 SF; Comprehensive 2020 renovation included roof, electrical, interiors, windows, doors, and plumbing‑related improvements
