Six-Unit Multifamily
For Sale
$2,499,900
1684 Southwest 10th Street, Miami, FL 33135
Renovated multifamily asset with two buildings, in-unit laundry, storage, and separately metered electricity.
Property Size5,318 SF
Price / SF$470.08
Days on Market253
Property Features for 1684 Southwest 10th Street
General Information
Standard status
Active
Size
5,318 SF
Total Parking Spaces
6
Property subtype
Multi-Family Income / Fourplex
Units
Unit Mix
5 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$18,433
Amenities
in-unit laundry
storage
Building Details
Year Built
1926
Buildings
2
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Monica Malpica · License #3282829
(877) 366-2213
Source:
Compass
Added: Dec 22, 2025
Changed: Aug 31
Last Checked: Aug 31 at 10:03PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This multifamily property contains 5,318 square feet across two buildings: one fourplex and one duplex. The six-unit configuration includes five 2-bedroom, 1-bath residences and one 3-bedroom, 2-bath residence. All units have in-unit laundry, while four additional storage areas provide separate income potential. The buildings were fully renovated, and the 40 Years Recertification has been completed.
The property includes six parking spaces and separate electric meters for the residences. Built in 1926, it is positioned in Miami, two blocks from Calle 8 restaurants and bars. The surrounding area attracts tourists throughout the year, adding an active pedestrian and visitor presence near the property.
The property includes six parking spaces and separate electric meters for the residences. Built in 1926, it is positioned in Miami, two blocks from Calle 8 restaurants and bars. The surrounding area attracts tourists throughout the year, adding an active pedestrian and visitor presence near the property.
Key Highlights
- Six legal multifamily units across one fourplex and one duplex
- Unit mix includes five 2/1 residences and one 3/2 residence
- 5,318 square feet; fully renovated
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
$106,655
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
4.27%
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%
$2,133,100
$2.1M
Cap Rate 7%
$1,523,643
$1.5M
Cap Rate 9%
$1,185,056
$1.2M
Market Conditions
NOI Build-Up for 5,318 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
$162.7K $30.60/SF
− Vacancy
−$10.4K −$1.95/SF
EGI
$152.4K $28.65/SF
− OpEx
−$45.7K −$8.60/SF
NOI
$106.7K $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%
$2,133,100
Cap Rate 7%
$1,523,643
Cap Rate 9%
$1,185,056
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.78M
NOI $106,655 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,242 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$3.59M
$3.14M – $4.19M
NOI $251,278 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,552
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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?
Multifamily property - Renovated multifamily asset with two buildings, in-unit laundry, storage, and separately metered electricity.
Where is this multifamily property located?
The property is located at 1684 Southwest 10th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,499,900.
What are key features of this property?
This property features: Six legal multifamily units across one fourplex and one duplex; Unit mix includes five 2/1 residences and one 3/2 residence; 5,318 square feet; fully renovated
