Renovated 5-Unit Apartment
For Sale
$1,200,000
1021 NW 30th St, Miami, FL 33127
Each apartment has its own electric meter, with residents responsible for their consumption.
Property Size2,800 SF
Lot Size0.11 Acres
Price / SF$428.57
Days on Market10
Property Features for 1021 NW 30th St
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.11 Acres
Property subtype
Quadruplex
Units
Unit Mix
3 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
5
Additional Details
Gross Income
$121,200
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,182
Building Details
Building Size
2,800 SF
Year Built
1936
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 443-7423
Listed By:
Miguel Fuentes · License #3403804
Source:
Marcelosteinmander
Added: Aug 19
Changed: Aug 24
Last Checked: Aug 26 at 1:15PM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This renovated five-unit apartment building contains approximately 2,800 square feet of living area on a 5,005-square-foot lot. The unit mix includes three 2-bedroom/1-bath apartments and two 1-bedroom/1-bath apartments. Built in 1936, the property has updated interiors, fresh exterior paint, and a renovated driveway. Separate electric metering assigns each unit’s electricity consumption to its occupants.
The property is located at 1021 NW 30th St in Miami’s Allapattah area, with Wynwood and the Rubell Museum described as minutes away. WalkScore is 98, BikeScore is 84, and TransitScore is 50. Two units are occupied by Section 8 tenants.
The property is located at 1021 NW 30th St in Miami’s Allapattah area, with Wynwood and the Rubell Museum described as minutes away. WalkScore is 98, BikeScore is 84, and TransitScore is 50. Two units are occupied by Section 8 tenants.
Key Highlights
- Five‑unit apartment building with three 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units
- Approximately 2,800 square feet of living area on a 5,005‑square‑foot lot
- Renovated interiors, fresh exterior paint, and a renovated driveway
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
$51,726
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
4.31%
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%
$1,034,520
$1.0M
Cap Rate 7%
$738,943
$738.9K
Cap Rate 9%
$574,733
$574.7K
Market Conditions
NOI Build-Up for 2,800 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
$100.8K $36.00/SF
− Vacancy
−$6.8K −$2.41/SF
EGI
$94.0K $33.59/SF
− OpEx
−$42.3K −$15.11/SF
NOI
$51.7K $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%
$1,034,520
Cap Rate 7%
$738,943
Cap Rate 9%
$574,733
Alternative Uses
Best Use
Apartment 5plus
$738.9K
$646.6K – $862.1K
NOI $51,726 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.89M
$1.65M – $2.21M
NOI $132,301 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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 - Each apartment has its own electric meter, with residents responsible for their consumption.
Where is this apartment building located?
The property is located at 1021 NW 30th St Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Five‑unit apartment building with three 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units; Approximately 2,800 square feet of living area on a 5,005‑square‑foot lot; Renovated interiors, fresh exterior paint, and a renovated driveway
