Five-Unit Apartment
For Sale
$2,600,000
840 SW 13th Ave, Miami, FL 33135
Residential Income, Miami, FL
Property Size4,097 SF
Price / SF$634.61
Days on Market99
Property Features for 840 SW 13th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Parking
3
Subdivision
1ST WESTMORELAND ADDN
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-11-013-0390
Size
4,097 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FIRST WESTMORELAND ADD PB 3-33 LOT 5 BLK 3 LOT SIZE 60.000 X 130 OR 9353-84
Tax Annual Amount
14000
Legal Description
FIRST WESTMORELAND ADD PB 3-33 LOT 5 BLK 3 LOT SIZE 60.000 X 130 OR 9353-84
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1921
Floors in Building
2
Flooring type
Hardwood, Tile, Wood
Architectural style
Other
Listing Agency:
One Stop Shop Realty LLC
(786) 800-0610
Listed By:
Wendy Alvarez Sanchez · License #3635819
(305) 205-1124
Added: Jun 14
Changed: Sep 16
Last Checked: Sep 20 at 2:06PM
MLS# A12035121
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 4,097-square-foot residential income property combines a two-story main house with four additional apartments, creating five income-producing units. The primary residence contains five bedrooms and two bathrooms. Wood, hardwood, and tile flooring are installed throughout, with central heating, electric heat, and central air conditioning. Public water and sewer serve the property, and cable is available.
The property is located at 840 SW 13th Ave in Miami’s Little Havana area, near Calle 8 and Cuban Memorial Boulevard. The surrounding central Miami location provides proximity to the Jackson Medical District, Downtown Miami, Brickell, Coconut Grove, Coral Gables, Key Biscayne, the Design District, and Miami Beach. The property is zoned T4-R. The main house and one apartment have an active short-term rental history, while the other apartments are rented month-to-month.
The property is located at 840 SW 13th Ave in Miami’s Little Havana area, near Calle 8 and Cuban Memorial Boulevard. The surrounding central Miami location provides proximity to the Jackson Medical District, Downtown Miami, Brickell, Coconut Grove, Coral Gables, Key Biscayne, the Design District, and Miami Beach. The property is zoned T4-R. The main house and one apartment have an active short-term rental history, while the other apartments are rented month-to-month.
Key Highlights
- 5 income‑producing units: a 2‑story 5BD/2BA main house plus 4 additional apartments
- 4,097 square feet of residential property
- T4‑R zoning
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
$75,686
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
2.91%
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%
$1,513,720
$1.5M
Cap Rate 7%
$1,081,229
$1.1M
Cap Rate 9%
$840,956
$841.0K
Market Conditions
NOI Build-Up for 4,097 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
$147.5K $36.00/SF
− Vacancy
−$9.9K −$2.41/SF
EGI
$137.6K $33.59/SF
− OpEx
−$61.9K −$15.11/SF
NOI
$75.7K $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%
$1,513,720
Cap Rate 7%
$1,081,229
Cap Rate 9%
$840,956
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$946.1K – $1.26M
NOI $75,686 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.77M
$2.42M – $3.23M
NOI $193,585 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,360
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
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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 - T4-R-zoned property with short-term and month-to-month rental use.
Where is this apartment building located?
The property is located at 840 SW 13th Ave Miami, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 5 income‑producing units: a 2‑story 5BD/2BA main house plus 4 additional apartments; 4,097 square feet of residential property; T4‑R zoning
