Renovated Quadplex with
For Sale
$950,000
3126 NW 28th St, Miami, FL 33142
Residential Income, Miami, FL
Property Size2,409 SF
Price / SF$394.35
Days on Market114
Property Features for 3126 NW 28th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
5100
Parking
8
Subdivision
RIVERSIDE MANOR
Lot features
< 1/4 Acre
Standard status
Active
APN
30-31-28-006-1440
Size
2,409 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
RIVERSIDE MANOR PB 20-80 LOT 14 BLK 8 73R-6477 LOT SIZE 50.000 X 140 OR 18064-3042 0498 4
Tax Annual Amount
10668
Legal Description
RIVERSIDE MANOR PB 20-80 LOT 14 BLK 8 73R-6477 LOT SIZE 50.000 X 140 OR 18064-3042 0498 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1966
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Javier Ubeda · License #3358462
(305) 766-1864
Added: May 15
Changed: Sep 4
Last Checked: Sep 5 at 9:06AM
MLS# A12018716
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 2,409-square-foot quadplex in Miami contains four renovated units: two two-bedroom apartments, one one-bedroom apartment, and one studio. The 1966 building is constructed of block and features terrazzo flooring, central air conditioning, and electric heating. A shingle roof, public sewer, and cable availability are also in place.
The property is located at 3126 NW 28th St in Miami, Miami-Dade County, with eight parking spaces. The required 40/50 years recertification was completed in 2026, adding a documented compliance milestone to the property record.
The property is located at 3126 NW 28th St in Miami, Miami-Dade County, with eight parking spaces. The required 40/50 years recertification was completed in 2026, adding a documented compliance milestone to the property record.
Key Highlights
- Four renovated units: two 2‑bedroom, one 1‑bedroom, and one studio
- 2,409 square feet across the quadplex
- Eight parking spaces included
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
$48,314
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
5.09%
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%
$966,280
$966.3K
Cap Rate 7%
$690,200
$690.2K
Cap Rate 9%
$536,822
$536.8K
Market Conditions
NOI Build-Up for 2,409 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
$73.7K $30.60/SF
− Vacancy
−$4.7K −$1.95/SF
EGI
$69.0K $28.65/SF
− OpEx
−$20.7K −$8.60/SF
NOI
$48.3K $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%
$966,280
Cap Rate 7%
$690,200
Cap Rate 9%
$536,822
Alternative Uses
Best Use
Multifamily LT 5
$690.2K
$603.9K – $805.2K
NOI $48,314 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$635.7K
$556.3K – $741.7K
NOI $44,502 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,826 @ 7.0% cap · market cap 11.98%
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
1,853
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Quadplex - Four-unit residential property with a varied apartment mix, central air, and on-site parking.
Where is this quadplex located?
The property is located at 3126 NW 28th St Miami, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four renovated units: two 2‑bedroom, one 1‑bedroom, and one studio; 2,409 square feet across the quadplex; Eight parking spaces included
