Turnkey 4-Unit Multifamily
1958 Northeast 172nd Street North Miami Beach, FL 33162
For Sale
$1,079,000
Fully renovated quadplex with three 1-bedroom units and one 2-bedroom unit, all long-term leased.
Property Size2,142 SF
Price / SF$503.73
Days on Market432
Property Features for 1958 Northeast 172nd Street
General Information
- Standard status
- Active
- Size
- 2,142 SF
- Property subtype
- Multi-Family Income / Fourplex
Building Details
- Year Built
- 1958
Listing Agency:
JDM Realty Group, Inc
(786) 301-1050
Listed By:
David Egozi · License #3207504
(786) 301-1050
Source:
Compass
Added: May 18, 2025
Changed: Jul 22
Last Checked: Jul 22 at 12:41PM
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 JDM Realty Group, Inc
Investment Insights
Based on property information with market context.
This fully renovated 4-unit multifamily property features three 1-bedroom units and one 2-bedroom unit. All units are leased long-term, and the current rental mix supports gross scheduled income of over $88,140 annually. Upgrades include new kitchens and bathrooms, new flooring, plumbing improvements, mini-split A/C systems, and hurricane impact windows.
Located in North Miami Beach, the property is minutes from Aventura Mall and Greynolds Park, offering convenient access to major shopping and recreation.
From a unit configuration standpoint, it presents a straightforward, stabilized layout for tenants seeking 1-bedroom living with an additional larger 2-bedroom option on site.
Located in North Miami Beach, the property is minutes from Aventura Mall and Greynolds Park, offering convenient access to major shopping and recreation.
From a unit configuration standpoint, it presents a straightforward, stabilized layout for tenants seeking 1-bedroom living with an additional larger 2-bedroom option on site.
Key Highlights
- Fully renovated 4‑unit multifamily built in 1958 with 3× 1‑bedroom units and 1× 2‑bedroom unit
- All 4 units are leased long‑term at $1,650–$2,350 per month
- Over $88,140 in gross scheduled annual income
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.0k | $25.20 |
| − Vacancy | −$3.0k | −$1.39 |
| EGI | $51.0k | $23.81 |
| − OpEx | −$15.3k | −$7.14 |
| NOI | $35.7k | $16.67 |
2,142 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$510.1K
$446.3K – $595.1K
NOI $35,707 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$470.6K
$411.8K – $549.1K
NOI $32,943 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$1.09M
$950.9K – $1.27M
NOI $76,071 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully renovated quadplex with three 1-bedroom units and one 2-bedroom unit, all long-term leased.
Where is this quadplex located?
The property is located at 1958 Northeast 172nd Street North Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,079,000.
What are key features of this property?
This property features: Fully renovated 4‑unit multifamily built in 1958 with 3× 1‑bedroom units and 1× 2‑bedroom unit; All 4 units are leased long‑term at $1,650–$2,350 per month; Over $88,140 in gross scheduled annual income
