Fourplex Investment Opportunity For
For Sale
$1,100,000
5520 NE 1st Ct, Miami, FL 33137
Fourplex with updated units and hurricane impact windows.
Property Size2,180 SF
Days on Market679
Property Features for 5520 NE 1st Ct
General Information
Standard status
Active
Size
2,180 SF
Property subtype
Quadruplex
Site & Location
Neighborhood
Lemon City/Little Haiti
Taxes and HOA fees
Annual Taxes
$6,764
Building Details
Building Size
2,180 SF
Year Built
1955
Listing Agency:
JMC Real Estate Miami, Inc
Listed By:
Jorge Martinez de Castro Jr · License #3410393
(305) 510-5589
Source:
Relinkre
Added: Dec 18, 2024
Changed: Oct 25
Last Checked: Oct 27 at 12:42AM
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 JMC Real Estate Miami, Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a fourplex, presenting an investment opportunity. Each of the four units includes one bedroom and one bathroom, and all units have been updated. The building is equipped with hurricane impact glass windows throughout. Individual electrical meters are located in a dedicated meter room. The property is currently occupied by month-to-month tenants and has recently passed re-certification. It is located in an opportunity zone.
Key Highlights
- Excellent fourplex investment opportunity
- Updated 1 bedroom and 1 bathroom units
- Hurricane impact glass windows throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,721
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$874,420
$874.4K
Cap Rate 7%
$624,586
$624.6K
Cap Rate 9%
$485,789
$485.8K
Market Conditions
NOI Build-Up for 2,180 SF
Gross rent
$66.7K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$62.5K $28.65/SF
− OpEx
−$18.7K −$8.60/SF
NOI
$43.7K $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%
$874,420
Cap Rate 7%
$624,586
Cap Rate 9%
$485,789
Alternative Uses
Best Use
Multifamily LT 5
$624.6K
$546.5K – $728.7K
NOI $43,721 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$575.3K
$503.4K – $671.2K
NOI $40,272 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,006 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with updated units and hurricane impact windows.
Where is this quadplex located?
The property is located at 5520 NE 1st Ct 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: Excellent fourplex investment opportunity; Updated 1 bedroom and 1 bathroom units; Hurricane impact glass windows throughout
