Four-Unit Multifamily
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 Market32
Property Features for 1170 71ST Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
4800
Bedrooms
6
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 2
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
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
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: Sep 20
Last Checked: Sep 20 at 11:06AM
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 four-unit multifamily property contains 3,759 square feet under air on a 0.15-acre lot. The layout includes one first-floor apartment with three bedrooms and two bathrooms, plus three second-floor one-bedroom, one-bathroom apartments. Separate electric meters serve the units, and a shared coin-operated laundry area adds practical functionality. The building has a roof that is 2 years old, along with tile flooring, CBS and stucco construction, central heating, central air, ceiling fans, storage, custom lighting, and fencing.
The property is located at 1170 71st Street in Miami Beach’s North Beach area, near Normandy Isle, beaches, shopping, restaurants, and public transportation. Three units are occupied under month-to-month leases, while the fourth is subject to an annual lease. The property has one water meter and is connected to public water and public sewer.
The property is located at 1170 71st Street in Miami Beach’s North Beach area, near Normandy Isle, beaches, shopping, restaurants, and public transportation. Three units are occupied under month-to-month leases, while the fourth is subject to an annual lease. The property has one water meter and is connected to public water and public sewer.
Key Highlights
- Four‑unit property totaling 3,759 square feet under air
- 0.15‑acre lot in Miami Beach’s North Beach area
- Unit mix includes one 3‑bedroom, 2‑bathroom apartment and three 1‑bedroom, 1‑bathroom apartments
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
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
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
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?
Quadplex - Four apartments with separate electric metering, shared coin laundry, and central heating and cooling systems.
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 property totaling 3,759 square feet under air; 0.15‑acre lot in Miami Beach’s North Beach area; Unit mix includes one 3‑bedroom, 2‑bathroom apartment and three 1‑bedroom, 1‑bathroom apartments
