Renovated Fourplex with In-Unit
New
For Sale
$1,550,000
1459 NW 2nd St, Miami, FL 33125
Residential Income, Miami, FL
Property Size3,320 SF
Price / SF$466.87
Days on Market2
Property Features for 1459 NW 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
6107
Bedrooms
12
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 7, Bathroom 5, Bathroom 2, Bathroom 3, Bedroom 11, Bedroom 12, Bedroom 10, Bedroom 9, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Parking
5
Subdivision
LAWRENCE ESTATE LAND CO
Lot features
< 1/4 Acre
Directions
Google
Standard status
Active
APN
01-41-02-005-8080
Size
3,320 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
2 54 41 PB 2-46 LAWRENCE ESTATE LAND COS SUB LOT 13 LESS S10FT BLK 53 LOT SIZE 7000 SQUARE FEET OR 19090-2003 02 2000 4 COC 25541-1412 04 20
Tax Annual Amount
20062
Legal Description
2 54 41 PB 2-46 LAWRENCE ESTATE LAND COS SUB LOT 13 LESS S10FT BLK 53 LOT SIZE 7000 SQUARE FEET OR 19090-2003 02 2000 4 COC 25541-1412 04 20
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
impact-rated doors & windows
key-card & code entry
washer and dryer inside unit
Wifi internet included
individual water and power meters
Building Details
Year built
1984
Floors in Building
2
Flooring type
Tile, Vinyl
Building materials
Block
Roof type
Concrete
Architectural style
Other
Listing Agency:
Carlton International
(305) 735-1221
Listed By:
Bruno Piotrowski · License #3215399
(305) 771-9428
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 4:06PM
MLS# A12082920
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,320-square-foot fourplex was built in 1984 and recently renovated. Block construction, impact-rated doors and windows, concrete roofing, central heating, and central air support the physical improvements. Each unit includes a washer and dryer, newer kitchen cabinets and flooring, and access through key-card or code entry. Vinyl and tile flooring are used throughout, with cable available and public sewer service.
The property is located at 1459 NW 2nd St in Miami, one block from Marlin Park Stadium. Interior parking is provided, while individual water and power meters support separate utility tracking. The configuration is presented as suitable for short- or long-term rental, co-living, or Airbnb use, with Wi-Fi internet included.
The property is located at 1459 NW 2nd St in Miami, one block from Marlin Park Stadium. Interior parking is provided, while individual water and power meters support separate utility tracking. The configuration is presented as suitable for short- or long-term rental, co-living, or Airbnb use, with Wi-Fi internet included.
Key Highlights
- 3,320‑square‑foot fourplex on a 0.08‑acre site
- Recently fully renovated with newer kitchens, cabinets, and flooring
- Impact‑rated doors and windows with key‑card and code entry
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
$66,584
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
4.30%
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%
$1,331,680
$1.3M
Cap Rate 7%
$951,200
$951.2K
Cap Rate 9%
$739,822
$739.8K
Market Conditions
NOI Build-Up for 3,320 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
$101.6K $30.60/SF
− Vacancy
−$6.5K −$1.95/SF
EGI
$95.1K $28.65/SF
− OpEx
−$28.5K −$8.60/SF
NOI
$66.6K $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%
$1,331,680
Cap Rate 7%
$951,200
Cap Rate 9%
$739,822
Alternative Uses
Best Use
Multifamily LT 5
$951.2K
$832.3K – $1.11M
NOI $66,584 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$876.2K
$766.7K – $1.02M
NOI $61,332 @ 7.0% cap · market cap 3.96%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,871 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,802
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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 - Updated four-unit property offers controlled entry, interior parking, and individually metered water and power.
Where is this quadplex located?
The property is located at 1459 NW 2nd St Miami, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 3,320‑square‑foot fourplex on a 0.08‑acre site; Recently fully renovated with newer kitchens, cabinets, and flooring; Impact‑rated doors and windows with key‑card and code entry
