Renovated Six-Unit Apartment
For Sale
$2,399,000
1684 SW 10th St, Miami, FL 33135
Residential Income, Miami, FL
Property Size5,318 SF
Price / SF$451.11
Days on Market65
Property Features for 1684 SW 10th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
0100
Bedrooms
13
Full bathrooms
7
Rooms
Bedroom 8, Bathroom 6, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 5, Bedroom 7, Bedroom 5, Bedroom 4, Bathroom 4, Bedroom 13, Bedroom 10, Bathroom 7, Bedroom 11, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 12, Bedroom 9
Parking
6
Subdivision
SHENANDOAH
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-063-0590
Size
5,318 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
SHENANDOAH PB 8-90 LOT 2 BLK 5 LOT SIZE 5900 SQ FT OR 20734-1280 10 2002 6
Tax Annual Amount
18433
Legal Description
SHENANDOAH PB 8-90 LOT 2 BLK 5 LOT SIZE 5900 SQ FT OR 20734-1280 10 2002 6
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
in-unit laundry
Building Details
Year built
1926
Floors in Building
2
Flooring type
Tile - Ceramic
Building materials
Brick, Block
Roof type
Concrete
Architectural style
Other
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Monica Malpica · License #3282829
(407) 968-3856
Added: Jul 18
Changed: Sep 16
Last Checked: Sep 20 at 12:06PM
MLS# A12034646
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 5,318-square-foot multifamily property includes two buildings configured as a fourplex and a duplex, with six legal units in total. Five apartments offer a two-bedroom, one-bath layout, while the remaining unit provides three bedrooms and two baths. The improvements have been fully renovated and include ceramic tile flooring, central heating, central air, in-unit laundry, concrete roofing, and separate electric meters. A 40-year recertification has been completed.
The property is located at 1684 SW 10th St in Miami’s Little Havana, two blocks from restaurants and bars along Calle 8. The site includes six parking spaces and four additional storage areas. It is currently operated as a short-term rental property and is served by public sewer, with cable available.
The property is located at 1684 SW 10th St in Miami’s Little Havana, two blocks from restaurants and bars along Calle 8. The site includes six parking spaces and four additional storage areas. It is currently operated as a short-term rental property and is served by public sewer, with cable available.
Key Highlights
- 6 legal units across 2 buildings: 1 fourplex and 1 duplex
- 5,318 SF multifamily property with 5 two‑bedroom/one‑bath units and 1 three‑bedroom/two‑bath unit
- Fully renovated with central heating, central air, and ceramic tile flooring
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
$98,242
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
4.10%
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%
$1,964,840
$2.0M
Cap Rate 7%
$1,403,457
$1.4M
Cap Rate 9%
$1,091,578
$1.1M
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
$191.4K $36.00/SF
− Vacancy
−$12.8K −$2.41/SF
EGI
$178.6K $33.59/SF
− OpEx
−$80.4K −$15.11/SF
NOI
$98.2K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,964,840
Cap Rate 7%
$1,403,457
Cap Rate 9%
$1,091,578
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,242 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.59M
$3.14M – $4.19M
NOI $251,278 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,213
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with in-unit laundry, storage, and separately metered electricity.
Where is this apartment building located?
The property is located at 1684 SW 10th St Miami, FL.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 6 legal units across 2 buildings: 1 fourplex and 1 duplex; 5,318 SF multifamily property with 5 two‑bedroom/one‑bath units and 1 three‑bedroom/two‑bath unit; Fully renovated with central heating, central air, and ceramic tile flooring
