Turnkey Fourplex with Central
For Sale
$1,455,000
1419 SW 22nd Ave, Miami, FL 33145
Built in 1995, this turnkey fourplex offers off-street parking and units with washer/dryer hookups and central A/C.
Property Size2,755 SF
Days on Market103
Property Features for 1419 SW 22nd Ave
General Information
Standard status
Active
Size
2,755 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,374
Building Details
Building Size
2,755 SF
Year Built
1995
Stories
2
Tenancy
Multi
Listing Agency:
Select International Realty, LLC.
Listed By:
Julio Hernandez · License #0498322
(305) 632-3144
Source:
Elliman
Added: Jun 21
Changed: Sep 17
Last Checked: Oct 1 at 12:53PM
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 Select International Realty, LLC.
Investment Insights
Based on property information with market context.
This turnkey fourplex was built in 1995 and is offered in excellent condition. The property includes off-street parking and residential units equipped with washer/dryer hookups and central air conditioning. Most kitchen and bathroom areas have been upgraded, and the overall unit finishes reflect the building’s current maintained condition. Building certification was completed in 2026, adding clarity for the buyer’s due diligence process.
The property is located in the Shenandoah area near Coral Way. Public-facing mobility indicators include a walk score of 90 and a bike score of 59, with a transit score of 47.
For buyers seeking a ready-to-operate rental asset, this fourplex provides an immediately usable configuration with in-unit laundry hookups and central A/C across the building. Appointments are limited and require proof of funds prior to scheduling, with viewings available Monday through Friday and 24-hour notice. Tenants should not be disturbed.
The property is located in the Shenandoah area near Coral Way. Public-facing mobility indicators include a walk score of 90 and a bike score of 59, with a transit score of 47.
For buyers seeking a ready-to-operate rental asset, this fourplex provides an immediately usable configuration with in-unit laundry hookups and central A/C across the building. Appointments are limited and require proof of funds prior to scheduling, with viewings available Monday through Friday and 24-hour notice. Tenants should not be disturbed.
Key Highlights
- Turnkey fourplex built in 1995 with off‑street parking
- All units include washer/dryer hookups and central A/C
- Most kitchens and bathrooms have been upgraded
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
$55,253
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
3.80%
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%
$1,105,060
$1.1M
Cap Rate 7%
$789,329
$789.3K
Cap Rate 9%
$613,922
$613.9K
Market Conditions
NOI Build-Up for 2,755 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
$84.3K $30.60/SF
− Vacancy
−$5.4K −$1.95/SF
EGI
$78.9K $28.65/SF
− OpEx
−$23.7K −$8.60/SF
NOI
$55.3K $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 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%
$1,105,060
Cap Rate 7%
$789,329
Cap Rate 9%
$613,922
Alternative Uses
Best Use
Multifamily LT 5
$789.3K
$690.7K – $920.9K
NOI $55,253 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$727.1K
$636.2K – $848.2K
NOI $50,894 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,175 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,481
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Built in 1995, this turnkey fourplex offers off-street parking and units with washer/dryer hookups and central A/C.
Where is this quadplex located?
The property is located at 1419 SW 22nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,455,000.
What are key features of this property?
This property features: Turnkey fourplex built in 1995 with off‑street parking; All units include washer/dryer hookups and central A/C; Most kitchens and bathrooms have been upgraded
