Multifamily Property in Little
For Sale
$1,850,000
1236 SW 4th St, Miami, FL 33135
Income-producing multifamily property with 8 units near Calle Ocho.
Property Size4,641 SF
Lot Size0.17 Acres
Days on Market275
Property Features for 1236 SW 4th St
General Information
Standard status
Active
Size
4,641 SF
Lot size
0.17 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,000
Building Details
Building Size
4,641 SF
Year Built
1923
Listing Agency:
Ugarit Realty
(305) 744-6930
Listed By:
Domingo Hernandez · License #3155727
(305) 744-6930
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 23
Last Checked: Aug 26 at 10:50AM
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 Ugarit Realty
Investment Insights
Based on property information with market context.
This multifamily property features 8 fully rented units located in Little Havana, near Calle Ocho and minutes from Brickell, Downtown, and the Health District. The property is an income-producing asset with long-term tenants and additional laundry income. It features impact windows and a new roof. The location is walkable with consistent rental demand. The T5-0 zoning in Miami allows a range of uses including residential, commercial, entertainment, and lodging.
Key Highlights
- 8 fully rented units providing strong cash flow.
- Prime Little Havana location, steps from Calle Ocho and minutes from Brickell, Downtown, and the Health District.
- T5‑0 zoning allows for a wide range of uses including residential, commercial, entertainment, and lodging.
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
$85,735
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
4.63%
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%
$1,714,700
$1.7M
Cap Rate 7%
$1,224,786
$1.2M
Cap Rate 9%
$952,611
$952.6K
Market Conditions
NOI Build-Up for 4,641 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
$167.1K $36.00/SF
− Vacancy
−$11.2K −$2.41/SF
EGI
$155.9K $33.59/SF
− OpEx
−$70.1K −$15.11/SF
NOI
$85.7K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,714,700
Cap Rate 7%
$1,224,786
Cap Rate 9%
$952,611
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,735 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.13M
$2.74M – $3.65M
NOI $219,289 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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?
Apartment building - Income-producing multifamily property with 8 units near Calle Ocho.
Where is this apartment building located?
The property is located at 1236 SW 4th St Miami, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 8 fully rented units providing strong cash flow.; Prime Little Havana location, steps from Calle Ocho and minutes from Brickell, Downtown, and the Health District.; T5‑0 zoning allows for a wide range of uses including residential, commercial, entertainment, and lodging.
