Remodeled Four-Unit
For Sale
$1,399,000
1765 Normandy Dr, Miami Beach, FL 33141
Fully renovated multifamily property with varied unit layouts, in-unit laundry, updated appliances, and central air conditioning and heat.
Property Size3,024 SF
Price / SF$461.11
Days on Market187
Property Features for 1765 Normandy Dr
General Information
Standard status
Active
Size
3,024 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Gross Income
$104,000
Taxes and HOA fees
Annual Taxes
$15,492
Amenities
washer and dryer
central A/C & heat
impact glass windows and doors
stainless steel appliances
ceramic floors
Building Details
Building Size
3,024 SF
Year Built
1949
Year Renovated
2020
Tenancy
Multi
Listing Agency:
London Foster Realty
(305) 776-6011
Listed By:
Sergio Evora · License #3108028
Source:
Vanessafrankmiami
Added: Jan 31
Changed: Aug 2
Last Checked: Aug 5 at 4:04AM
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 London Foster Realty
Investment Insights
Based on property information with market context.
This four-unit quadplex contains 3,034 SF and was comprehensively remodeled in 2020. The unit mix includes two 2-bedroom, 1-bath residences and two 1-bedroom, 1-bath residences. Each unit has a washer and dryer, newer central A/C and heat, impact glass windows and doors, stainless steel appliances, and ceramic tile flooring. All four units are occupied under 12-month leases.
The property is located on Normandy Dr in Miami Beach, near the community pool, Normandy Shores Golf Course, and the beach. A 40-year recertification was completed in 2020, and the roof was replaced in February 2026. The 1949-built property combines updated interiors with a four-unit residential configuration in an established rental area.
The property is located on Normandy Dr in Miami Beach, near the community pool, Normandy Shores Golf Course, and the beach. A 40-year recertification was completed in 2020, and the roof was replaced in February 2026. The 1949-built property combines updated interiors with a four-unit residential configuration in an established rental area.
Key Highlights
- Four‑unit quadplex with 3,034 SF
- Unit mix includes two 2/1 units and two 1/1 units
- Fully remodeled in 2020 with 40‑year recertification completed
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.5k | $25.20 |
| − Vacancy | −$4.2k | −$1.39 |
| EGI | $72.3k | $23.81 |
| − OpEx | −$21.7k | −$7.14 |
| NOI | $50.6k | $16.67 |
3,034 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$722.5K
$632.2K – $842.9K
NOI $50,576 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$666.6K
$583.3K – $777.7K
NOI $46,661 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,749 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,156
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
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 renovated multifamily property with varied unit layouts, in-unit laundry, updated appliances, and central air conditioning and heat.
Where is this quadplex located?
The property is located at 1765 Normandy Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,034 SF; Unit mix includes two 2/1 units and two 1/1 units; Fully remodeled in 2020 with 40‑year recertification completed
