Four-Unit Residential Income
For Sale
$1,100,000
1021 SW 5TH Street, Miami, FL 33130
Two duplex buildings provide a four-apartment residential income configuration with separately metered electricity.
Property Size1,609 SF
Days on Market8
Property Features for 1021 SW 5TH Street
General Information
Standard status
Active
Size
1,609 SF
Property subtype
Quadruplex
Units
Unit Mix
1 x 1BR, 2 x 2BR, 1 x 3BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,492
Building Details
Building Size
1,609 SF
Year Built
1925
Buildings
2
Listing Agency:
Lance Olson
Listed By:
Lance S Olson · License #3384885
Source:
Luxeknows
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 20 at 4:58AM
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 Lance Olson
Investment Insights
Based on property information with market context.
This residential income property comprises two duplex buildings with four apartments in total. The unit mix includes one one-bedroom apartment, two two-bedroom apartments, and one three-bedroom apartment. The property was built in 1925, and each apartment has a separate electric meter, with tenants responsible for their own electricity.
The property is located near Brickell and the Calle Ocho corridor, placing it close to the restaurants and commercial activity associated with those areas.
The property is located near Brickell and the Calle Ocho corridor, placing it close to the restaurants and commercial activity associated with those areas.
Key Highlights
- Two duplex buildings containing four apartments
- Unit mix includes one 1‑bedroom, two 2‑bedroom, and one 3‑bedroom apartments
- Four separate electric meters; tenants pay their own electricity
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
$32,269
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
2.93%
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%
$645,380
$645.4K
Cap Rate 7%
$460,986
$461.0K
Cap Rate 9%
$358,544
$358.5K
Market Conditions
NOI Build-Up for 1,609 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
$49.2K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$46.1K $28.65/SF
− OpEx
−$13.8K −$8.60/SF
NOI
$32.3K $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%
$645,380
Cap Rate 7%
$460,986
Cap Rate 9%
$358,544
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.4K – $537.8K
NOI $32,269 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$424.6K
$371.6K – $495.4K
NOI $29,724 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$1.09M
$950.3K – $1.27M
NOI $76,026 @ 7.0% cap · market cap 6.91%
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
3,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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?
Quadplex - Two duplex buildings provide a four-apartment residential income configuration with separately metered electricity.
Where is this quadplex located?
The property is located at 1021 SW 5TH Street Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two duplex buildings containing four apartments; Unit mix includes one 1‑bedroom, two 2‑bedroom, and one 3‑bedroom apartments; Four separate electric meters; tenants pay their own electricity
