4-Unit
For Sale
$880,000
1500 Northwest 69th Terrace, Miami, FL 33147
Fully occupied multifamily property with four two-bedroom, one-bathroom residences near highways, shopping, schools, and employment centers.
Property Size2,920 SF
Price / SF$301.37
Days on Market175
Property Features for 1500 Northwest 69th Terrace
General Information
Standard status
Active
Size
2,920 SF
Property subtype
Residential Income / Fourplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$13,163
Building Details
Year Built
1962
Buildings
1
Listing Agency:
Realty One Group Evolution
Listed By:
Juan Cortes · License #3596452
(786) 477-4715
Source:
Compass
Added: Mar 13
Changed: Sep 3
Last Checked: Sep 2 at 11:31PM
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 Realty One Group Evolution
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains four two-bedroom, one-bathroom residences within 2,920 square feet. Built in 1962, the quadplex is fully occupied and configured as a residential rental asset.
The property is located near major highways, shopping, schools, and employment centers in Miami, Florida. Its four-unit layout and existing occupancy provide a straightforward multifamily configuration for continued rental use.
The property is located near major highways, shopping, schools, and employment centers in Miami, Florida. Its four-unit layout and existing occupancy provide a straightforward multifamily configuration for continued rental use.
Key Highlights
- Four 2BR/1BA units
- Fully occupied quadplex
- 2,920 SF property size
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
$58,562
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
6.65%
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%
$1,171,240
$1.2M
Cap Rate 7%
$836,600
$836.6K
Cap Rate 9%
$650,689
$650.7K
Market Conditions
NOI Build-Up for 2,920 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
$89.4K $30.60/SF
− Vacancy
−$5.7K −$1.95/SF
EGI
$83.7K $28.65/SF
− OpEx
−$25.1K −$8.60/SF
NOI
$58.6K $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%
$1,171,240
Cap Rate 7%
$836,600
Cap Rate 9%
$650,689
Alternative Uses
Best Use
Multifamily LT 5
$836.6K
$732.0K – $976.0K
NOI $58,562 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$770.6K
$674.3K – $899.0K
NOI $53,942 @ 7.0% cap · market cap 6.13%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,971 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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 - Fully occupied multifamily property with four two-bedroom, one-bathroom residences near highways, shopping, schools, and employment centers.
Where is this quadplex located?
The property is located at 1500 Northwest 69th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Four 2BR/1BA units; Fully occupied quadplex; 2,920 SF property size
