Renovated Quadplex
For Sale
Contact for pricing
Pending
1940 NW 31 St., Miami, FL 33142
Five one-story four-unit buildings offer renovated 1-bedroom, 1-bath residences with current rental income.
Property Size10,377 SF
Days on Market148
Property Features for 1940 NW 31 St.
General Information
Standard status
Pending
Size
10,377 SF
Property subtype
Industrial
Additional Details
Cap Rate
6.37%
Multifamily Units
20
Building Details
Year Renovated
2018
Stories
1
Listing Agency:
Eleven Trust Real Estate Services
Listed By:
Sharif Bula · License #3057657
(305) 244-3880
Source:
Crexi
Added: Apr 11
Changed: Aug 16
Last Checked: Sep 4 at 8:25AM
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 Eleven Trust Real Estate Services
Investment Insights
Based on property information with market context.
The portfolio includes five one-story buildings, each comprised of four 1-bedroom, 1-bath units, constructed in 1956 and 1957. The buildings were completely gutted and renovated in the spring of 2018, with total rentable square footage of 10,377. The offering is positioned as a turn-key, stabilized investment with reported low foreseeable future maintenance costs.
The portfolio is currently generating $272,640 in gross rental income, with a Net Operating Income of $181,677 and a 5.63% capitalization rate. Property 1930 and 1910 are under renovations and are scheduled to be ready before closing, or the buyer may elect to purchase prior to renovation completion.
As presented, pro-forma results include potential gross rental income of $300,000 and a pro-forma Net Operating Income of $207,154, operating at a 6.37% capitalization rate.
The portfolio is currently generating $272,640 in gross rental income, with a Net Operating Income of $181,677 and a 5.63% capitalization rate. Property 1930 and 1910 are under renovations and are scheduled to be ready before closing, or the buyer may elect to purchase prior to renovation completion.
As presented, pro-forma results include potential gross rental income of $300,000 and a pro-forma Net Operating Income of $207,154, operating at a 6.37% capitalization rate.
Key Highlights
- Portfolio of five one‑story buildings, each with four 1‑bedroom/1‑bath units, built in 1956 and 1957
- Total 10,377 rentable SF; each building was completely gutted and renovated in spring 2018
- Current gross rental income of $272,640 with Net Operating Income of $181,677 (5.63% cap rate)
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
2,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Quadplex - Five one-story four-unit buildings offer renovated 1-bedroom, 1-bath residences with current rental income.
Where is this quadplex located?
The property is located at 1940 NW 31 St. Miami, FL.
What are key features of this property?
This property features: Portfolio of five one‑story buildings, each with four 1‑bedroom/1‑bath units, built in 1956 and 1957; Total 10,377 rentable SF; each building was completely gutted and renovated in spring 2018; Current gross rental income of $272,640 with Net Operating Income of $181,677 (5.63% cap rate)
