Four-Unit Quadplex with
New
For Sale
$1,400,000
27 NE 60th Ter, Miami, FL 33137
Residential Income, Miami, FL
Property Size2,804 SF
Price / SF$499.29
Days on Market2
Property Features for 27 NE 60th Ter
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
5700
Bedrooms
9
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bedroom 9, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 7, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 8
Parking
8
Subdivision
ROCKMOOR PLACE
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
01-31-13-049-0233
Size
2,804 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
ROCKMOOR PLACE PB 4-180 LOT 10 BLK 3 LOT SIZE 50.000 X 90 OR 20972-1185 01 2003 1 COC 25843-4753 05 2006 4
Tax Annual Amount
14575
Legal Description
ROCKMOOR PLACE PB 4-180 LOT 10 BLK 3 LOT SIZE 50.000 X 90 OR 20972-1185 01 2003 1 COC 25843-4753 05 2006 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1929
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Flat
Architectural style
Other
Listing Agency:
Canvas Real Estate
(754) 704-4242
Listed By:
Niky Nammur · License #3493037
(786) 201-9728
Added: Aug 29
Last Checked: Aug 30 at 6:06PM
MLS# A12079952
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 Miami quadplex contains four apartments, each configured with two bedrooms, one bathroom, and a den. The 2,804-square-foot property was built in 1929 and features block construction, tile flooring, flat roofing, wall or window cooling, window units, and ceiling fans. Public sewer service and cable availability are also reported. The property is offered as-is, and its 40-year certification has been completed.
The asset is located at 27 NE 60th Ter in Miami, near Magic City Casino, Midtown, Wynwood, and the Miami Design District. It is also situated within an Opportunity Zone, providing an additional location-based characteristic for purchasers to evaluate. The four-unit configuration and repeated two-bedroom layouts create a consistent residential income profile across the property.
The asset is located at 27 NE 60th Ter in Miami, near Magic City Casino, Midtown, Wynwood, and the Miami Design District. It is also situated within an Opportunity Zone, providing an additional location-based characteristic for purchasers to evaluate. The four-unit configuration and repeated two-bedroom layouts create a consistent residential income profile across the property.
Key Highlights
- Four apartments, each with 2 bedrooms, 1 bathroom, and a den
- 2,804 square feet on a 0.06‑acre parcel
- 40‑year certification completed
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
$56,236
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
4.02%
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%
$1,124,720
$1.1M
Cap Rate 7%
$803,371
$803.4K
Cap Rate 9%
$624,844
$624.8K
Market Conditions
NOI Build-Up for 2,804 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
$85.8K $30.60/SF
− Vacancy
−$5.5K −$1.95/SF
EGI
$80.3K $28.65/SF
− OpEx
−$24.1K −$8.60/SF
NOI
$56.2K $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%
$1,124,720
Cap Rate 7%
$803,371
Cap Rate 9%
$624,844
Alternative Uses
Best Use
Multifamily LT 5
$803.4K
$703.0K – $937.3K
NOI $56,236 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$740.0K
$647.5K – $863.3K
NOI $51,799 @ 7.0% cap · market cap 3.70%
Theoretical Best
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,490 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,354
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
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 - Income-producing residential property with four apartments, individual dens, and proximity to Miami’s Magic City Casino and creative districts.
Where is this quadplex located?
The property is located at 27 NE 60th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms, 1 bathroom, and a den; 2,804 square feet on a 0.06‑acre parcel; 40‑year certification completed
