Four-Unit
For Sale
$1,810,000
1791 Marseille Dr, Miami Beach, FL 33141
Residential Income, Miami Beach, FL
Property Size3,872 SF
Lot Size0.13 Acres
Price / SF$467.46
Days on Market68
Property Features for 1791 Marseille Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 7, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 8, Bedroom 6, Bedroom 1, Bathroom 3
Subdivision
ISLE OF NORMANDY MIAMI VI
Lot features
< 1/4 Acre
Standard status
Active
APN
02-32-10-017-0360
Size
3,872 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ISLE OF NORMANDY MIAMI VIEW SEC PART 2 PB 41-75 LOT 2 BLK 32 LOT SIZE 50.000 X 110 OR 20569-0060 07 2002 1
Tax Annual Amount
16992
Legal Description
ISLE OF NORMANDY MIAMI VIEW SEC PART 2 PB 41-75 LOT 2 BLK 32 LOT SIZE 50.000 X 110 OR 20569-0060 07 2002 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1945
Floors in Building
2
Flooring type
Tile - Ceramic, Wood, Tile, Hardwood
Building materials
Block, Stucco
Architectural style
Other
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Marilina Apfelbaum · License #0662372
(786) 287-3633
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 10:06AM
MLS# A11987767
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 1945 quadplex contains four two-bedroom, one-bath residences totaling approximately 3,872 SF. The property occupies a 5,500 SF lot and is constructed with block and stucco. Interior finishes include tile, ceramic tile, hardwood, and wood flooring, while central heating and central air serve the units. Cable is available, and the property connects to public sewer.
The property is located at 1791 Marseille Dr in Miami Beach’s Normandy Isles area, near the beach, Normandy Fountain, shops, and dining. RM-1 zoning is identified for the site. The four-unit layout provides a defined multifamily configuration for residential income ownership.
The property is located at 1791 Marseille Dr in Miami Beach’s Normandy Isles area, near the beach, Normandy Fountain, shops, and dining. RM-1 zoning is identified for the site. The four-unit layout provides a defined multifamily configuration for residential income ownership.
Key Highlights
- Four 2BD/1BA units in a 4‑unit multifamily property
- Approximately 3,872 SF on a 5,500 SF lot
- RM‑1 zoning
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
$64,545
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
3.57%
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%
$1,290,900
$1.3M
Cap Rate 7%
$922,071
$922.1K
Cap Rate 9%
$717,167
$717.2K
Market Conditions
NOI Build-Up for 3,872 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
$97.6K $25.20/SF
− Vacancy
−$5.4K −$1.39/SF
EGI
$92.2K $23.81/SF
− OpEx
−$27.7K −$7.14/SF
NOI
$64.5K $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%
$1,290,900
Cap Rate 7%
$922,071
Cap Rate 9%
$717,167
Alternative Uses
Best Use
Multifamily LT 5
$922.1K
$806.8K – $1.08M
NOI $64,545 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$850.7K
$744.4K – $992.5K
NOI $59,549 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,510 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,080
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 - Four two-bedroom, one-bath residences with central HVAC, tile and wood flooring, and public sewer service.
Where is this quadplex located?
The property is located at 1791 Marseille Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,810,000.
What are key features of this property?
This property features: Four 2BD/1BA units in a 4‑unit multifamily property; Approximately 3,872 SF on a 5,500 SF lot; RM‑1 zoning
