Four-Unit Multifamily
For Sale
$625,000
1-4-3121 Nw 133rd St, Opa Locka, FL 33161
New permitted roof and water heaters across the property support near-term capital planning.
Property Size2,948 SF
Price / SF$212.01
Days on Market8
Property Features for 1-4-3121 Nw 133rd St
General Information
Standard status
Active
Size
2,948 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$15,700
Listing Agency:
Coldwell Banker Realty
(954) 527-5900
Listed By:
Corbin Mitchell · License #3291178
(954) 593-0181
Source:
Exprealty
Added: Sep 4
Changed: Sep 10
Last Checked: Sep 10 at 3:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2948 SF quadplex contains four one-bedroom, one-bath residences. Three units are leased on a month-to-month basis, while the fourth provides additional occupancy flexibility. Property improvements include a new permitted roof and new water heaters serving all four units.
The property is located at 1-4-3121 NW 133rd St in Opa Locka, with access to NW 135th St, Gratigny Pkwy, and major Miami-Dade corridors. Its four-unit configuration, recent building-system improvements, and flexible month-to-month occupancy profile create a straightforward multifamily operating format.
The property is located at 1-4-3121 NW 133rd St in Opa Locka, with access to NW 135th St, Gratigny Pkwy, and major Miami-Dade corridors. Its four-unit configuration, recent building-system improvements, and flexible month-to-month occupancy profile create a straightforward multifamily operating format.
Key Highlights
- Four one‑bedroom, one‑bath units in a quadplex configuration
- 2948 SF multifamily property
- Three of four units currently rented month‑to‑month
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
$54,460
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
8.71%
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%
$1,089,200
$1.1M
Cap Rate 7%
$778,000
$778.0K
Cap Rate 9%
$605,111
$605.1K
Market Conditions
NOI Build-Up for 2,948 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
$106.1K $36.00/SF
− Vacancy
−$7.1K −$2.41/SF
EGI
$99.0K $33.59/SF
− OpEx
−$44.6K −$15.11/SF
NOI
$54.5K $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%
$1,089,200
Cap Rate 7%
$778,000
Cap Rate 9%
$605,111
Alternative Uses
Best Use
Multifamily LT 5
$844.6K
$739.1K – $985.4K
NOI $59,124 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$778.0K
$680.8K – $907.7K
NOI $54,460 @ 7.0% cap · market cap 8.71%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,294 @ 7.0% cap · market cap 22.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
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 - New permitted roof and water heaters across the property support near-term capital planning.
Where is this quadplex located?
The property is located at 1-4-3121 Nw 133rd St Opa Locka, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units in a quadplex configuration; 2948 SF multifamily property; Three of four units currently rented month‑to‑month
