Miami Beach Quadplex Corner
For Sale
$1,791,000
1460 E West Ave, Miami Beach, FL 33139
Four-unit corner residential income property with impact windows, central AC, and private front and rear entrances for each unit.
Property Size4,952 SF
Days on Market103
Property Features for 1460 E West Ave
General Information
Standard status
Active
Size
4,952 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,027
Building Details
Building Size
4,952 SF
Year Built
1947
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Elissa Lithman · License #3292973
Source:
Vanessafrankmiami
Added: May 28
Changed: Aug 23
Last Checked: Sep 7 at 7:20AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This boutique four-unit quadplex features 1947 Miami Modern (MiMo) inspired architecture and oversized two-bedroom, two-bath residences. Each unit offers expansive living space with large dine-in kitchens, a flexible Florida room with banks of windows, and private front and rear entrances. Corner configurations include two top-floor units and one first-floor unit, and the property also includes a communal garden at the rear. On-site parking is provided at approximately one space per unit.
Improvements include a roof installed about 10 years ago, 40-year recertification, impact windows throughout, updated electrical and plumbing, tankless water heaters, and central AC in each unit. One comparable unit in the building recently leased for $3,150 per month, and two units are currently occupied on month-to-month terms with one unit vacant.
The property is located on East West Ave in Miami Beach and is positioned minutes from the beach, parks, cafés, restaurants, and shopping. Showings are available by appointment only with 24 hours’ notice, and units may be available for individual sale.
Improvements include a roof installed about 10 years ago, 40-year recertification, impact windows throughout, updated electrical and plumbing, tankless water heaters, and central AC in each unit. One comparable unit in the building recently leased for $3,150 per month, and two units are currently occupied on month-to-month terms with one unit vacant.
The property is located on East West Ave in Miami Beach and is positioned minutes from the beach, parks, cafés, restaurants, and shopping. Showings are available by appointment only with 24 hours’ notice, and units may be available for individual sale.
Key Highlights
- 1947‑built, four‑unit corner MiMo building with three oversized 2 bed/2 bath residences (each just under 1,200 SF)
- Impact windows throughout plus central AC in each unit and tankless water heaters
- Each residence has large dine‑in kitchen space and private front and rear entrances
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
$82,549
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
4.61%
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%
$1,650,980
$1.7M
Cap Rate 7%
$1,179,271
$1.2M
Cap Rate 9%
$917,211
$917.2K
Market Conditions
NOI Build-Up for 4,952 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
$124.8K $25.20/SF
− Vacancy
−$6.9K −$1.39/SF
EGI
$117.9K $23.81/SF
− OpEx
−$35.4K −$7.14/SF
NOI
$82.5K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,650,980
Cap Rate 7%
$1,179,271
Cap Rate 9%
$917,211
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,549 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$1.09M
$952.0K – $1.27M
NOI $76,158 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,865 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
Median Home Value
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 - Four-unit corner residential income property with impact windows, central AC, and private front and rear entrances for each unit.
Where is this quadplex located?
The property is located at 1460 E West Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,791,000.
What are key features of this property?
This property features: 1947‑built, four‑unit corner MiMo building with three oversized 2 bed/2 bath residences (each just under 1,200 SF); Impact windows throughout plus central AC in each unit and tankless water heaters; Each residence has large dine‑in kitchen space and private front and rear entrances
