Four-Unit Multifamily
New
For Sale
$1,299,000
1170 71ST Street, Miami Beach, FL 33141
Residential Income, Miami Beach, FL
Property Size3,759 SF
Lot Size0.15 Acres
Price / SF$345.57
Days on Market5
Property Features for 1170 71ST Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
4800
Bedrooms
6
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 5, Bathroom 1
Pets allowed
Yes, No
Exterior features
Custom Lighting, Storage
Fencing
Fenced
Subdivision
OCEANSIDE SEC ISLE OF NORMANDY
Elementary school
Treasure Island
Middle school
Miami Beach Nautilus
High school
Miami Beach
Standard status
Active
APN
023200131630
Size
3,759 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OCEAN SIDE SEC ISLE OF NORMANDY PB 25-60 LOT 9 BLK 11 LOT SIZE 53.400 X 125 OR-9361-1447 COC 25559-0262 04 2007 5
Tax Annual Amount
16943
Legal Description
OCEAN SIDE SEC ISLE OF NORMANDY PB 25-60 LOT 9 BLK 11 LOT SIZE 53.400 X 125 OR-9361-1447 COC 25559-0262 04 2007 5
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
common coin operated laundry area
Building Details
Year built
1939
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
CBS, Stucco
Additional Structures
Outbuilding, Storage
Listing Agency:
RE/MAX Preferred · RE/MAX International
(954) 396-5900
Listed By:
Rachael A Barach · License #3095523
(954) 815-1418
Added: Aug 20
Changed: Aug 23
Last Checked: Aug 24 at 1:06PM
MLS# B26067032
Copyright © 2026 BeachesMLS. 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 quadplex contains 3,759 square feet under air and was built in 1939. The layout includes one three-bedroom, two-bathroom residence plus three one-bedroom, one-bathroom apartments. Separate electric meters serve the units, while a common coin-operated laundry area supports the property. A 2 year old roof, tile flooring, central air, central heating, ceiling fans, fencing, and storage are among the existing features. Public water and public sewer serve the building.
The property is at 1170 71ST Street in Miami Beach, within the North Beach neighborhood and near Normandy Isle. Beaches, shopping, restaurants, and public transportation are identified nearby. The 0.15-acre site is associated with zoning designation 4800. Three occupants have month-to-month leases, and one unit is subject to an annual lease.
The property is at 1170 71ST Street in Miami Beach, within the North Beach neighborhood and near Normandy Isle. Beaches, shopping, restaurants, and public transportation are identified nearby. The 0.15-acre site is associated with zoning designation 4800. Three occupants have month-to-month leases, and one unit is subject to an annual lease.
Key Highlights
- Four‑unit configuration with one 3‑bedroom, 2‑bathroom unit and three 1‑bedroom, 1‑bathroom apartments
- 3,759 square feet under air on a 0.15‑acre site
- 2 year old roof and separate electric meters for each unit
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
$62,662
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
4.82%
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%
$1,253,240
$1.3M
Cap Rate 7%
$895,171
$895.2K
Cap Rate 9%
$696,244
$696.2K
Market Conditions
NOI Build-Up for 3,759 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
$94.7K $25.20/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$89.5K $23.81/SF
− OpEx
−$26.9K −$7.14/SF
NOI
$62.7K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,253,240
Cap Rate 7%
$895,171
Cap Rate 9%
$696,244
Alternative Uses
Best Use
Multifamily LT 5
$895.2K
$783.3K – $1.04M
NOI $62,662 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$825.9K
$722.6K – $963.5K
NOI $57,811 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,497 @ 7.0% cap · market cap 10.28%
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
1,757
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
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 - Income-producing building with separately metered apartments, shared laundry, and a recently replaced roof.
Where is this quadplex located?
The property is located at 1170 71ST Street Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Four‑unit configuration with one 3‑bedroom, 2‑bathroom unit and three 1‑bedroom, 1‑bathroom apartments; 3,759 square feet under air on a 0.15‑acre site; 2 year old roof and separate electric meters for each unit
