Turnkey Fourplex
For Sale
$970,000
11775 SW 223rd St, Miami, FL 33170
Fully renovated fourplex with updated interiors, permitted roof and impact windows, upgraded systems, and separate utilities.
Property Size2,478 SF
Days on Market197
Property Features for 11775 SW 223rd St
General Information
Standard status
Active
Size
2,478 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,328
Building Details
Building Size
2,478 SF
Year Built
1957
Tenancy
Multi
Listing Agency:
Synergy Realty Advisors
Listed By:
Rosaura Sandoval Guevara · License #3552947
(786) 302-5726
Source:
Relinkre
Added: Apr 15
Changed: Oct 27
Last Checked: Oct 27 at 1:08AM
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 Synergy Realty Advisors
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Investment Insights
Based on property information with market context.
This fully renovated fourplex offers a turnkey setup with major capital improvements already completed throughout the building and all units. Interiors have been updated with tile flooring, brand-new kitchens featuring stainless steel appliances, and fully renovated bathrooms. Washer units are included in each unit for added convenience. Significant system upgrades include new electrical and plumbing, along with a permitted new roof and permitted impact windows.
The property provides 4 parking spaces and has separate meters for water and electricity per unit, helping simplify utility allocation. Overall, the updates are designed to reduce near-term maintenance and support long-term reliability.
Each unit is configured with its own dedicated utility metering, and the refreshed finishes and in-unit laundry add practical day-to-day functionality for residents.
The property provides 4 parking spaces and has separate meters for water and electricity per unit, helping simplify utility allocation. Overall, the updates are designed to reduce near-term maintenance and support long-term reliability.
Each unit is configured with its own dedicated utility metering, and the refreshed finishes and in-unit laundry add practical day-to-day functionality for residents.
Key Highlights
- Fully renovated 4‑plex (4 units), with all units updated with tile flooring throughout
- Permitted new roof and permitted impact windows
- Major systems upgraded, including new electrical and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,698
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,960
$994.0K
Cap Rate 7%
$709,971
$710.0K
Cap Rate 9%
$552,200
$552.2K
Market Conditions
NOI Build-Up for 2,478 SF
Gross rent
$75.8K $30.60/SF
− Vacancy
−$4.8K −$1.95/SF
EGI
$71.0K $28.65/SF
− OpEx
−$21.3K −$8.60/SF
NOI
$49.7K $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 Rate 5%
$993,960
Cap Rate 7%
$709,971
Cap Rate 9%
$552,200
Alternative Uses
Best Use
Multifamily LT 5
$710.0K
$621.2K – $828.3K
NOI $49,698 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$654.0K
$572.2K – $763.0K
NOI $45,777 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $117,087 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
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Business Placement
Demographics for 33170, FL
14,908
Population
4,839
Households
3.1
Avg Household Size
37
Median Age
22%
College-Educated
79%
High-School Grad
12.4 sq mi
ZIP Area
1,202
Density / Sq Mi
$68,953
Median Household Income
$40,052
Median Earnings
$1,511
Median Rent
$426,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully renovated fourplex with updated interiors, permitted roof and impact windows, upgraded systems, and separate utilities.
Where is this quadplex located?
The property is located at 11775 SW 223rd St Miami, FL.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Fully renovated 4‑plex (4 units), with all units updated with tile flooring throughout; Permitted new roof and permitted impact windows; Major systems upgraded, including new electrical and plumbing
