Renovated Fourplex With Impact
For Sale
$1,300,000
1814 Northwest 2nd Court, Miami, FL 33136
Fully renovated fourplex with four 2-bedroom, 1-bath units, new kitchens and baths, plus a brand-new roof and impact windows.
Property Size2,752 SF
Price / SF$472.38
Days on Market275
Property Features for 1814 Northwest 2nd Court
General Information
Standard status
Active
Size
2,752 SF
Property subtype
Multi-Family Income / Fourplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,931
Building Details
Year Built
2024
Tenancy
Multi
Listing Agency:
The Real Estate Lab, Inc.
Listed By:
Abraham A Elbaz · License #3484615
(844) 299-3499
Source:
Compass
Added: Dec 7, 2025
Changed: Aug 8
Last Checked: Jul 23 at 1:58PM
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 The Real Estate Lab, Inc.
Investment Insights
Based on property information with market context.
This fully renovated fourplex offers four separate residential units, each configured with 2 bedrooms and 1 bathroom. Improvements include new kitchens and bathrooms with stainless steel appliances and modern finishes, completed with permits. The property also features a brand-new roof and impact windows, designed for long-term durability.
The building is located near Wynwood and Downtown in Miami. It is positioned for rental demand in a strong local market.
As presented, the property provides a turnkey setup for either investment use or owner occupancy, with all units updated to the same renovated standard.
The building is located near Wynwood and Downtown in Miami. It is positioned for rental demand in a strong local market.
As presented, the property provides a turnkey setup for either investment use or owner occupancy, with all units updated to the same renovated standard.
Key Highlights
- Fully renovated fourplex built in 2024 with four 2‑bedroom, 1‑bath units
- Each unit includes new kitchens and bathrooms with stainless steel appliances
- New roof plus impact windows for added durability and protection
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
$55,193
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
4.25%
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%
$1,103,860
$1.1M
Cap Rate 7%
$788,471
$788.5K
Cap Rate 9%
$613,256
$613.3K
Market Conditions
NOI Build-Up for 2,752 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
$84.2K $30.60/SF
− Vacancy
−$5.4K −$1.95/SF
EGI
$78.8K $28.65/SF
− OpEx
−$23.7K −$8.60/SF
NOI
$55.2K $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%
$1,103,860
Cap Rate 7%
$788,471
Cap Rate 9%
$613,256
Alternative Uses
Best Use
Multifamily LT 5
$788.5K
$689.9K – $919.9K
NOI $55,193 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$726.3K
$635.5K – $847.3K
NOI $50,839 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,033 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,967
Businesses Nearby
Explore this area
Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
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?
Quadplex - Fully renovated fourplex with four 2-bedroom, 1-bath units, new kitchens and baths, plus a brand-new roof and impact windows.
Where is this quadplex located?
The property is located at 1814 Northwest 2nd Court Miami, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Fully renovated fourplex built in 2024 with four 2‑bedroom, 1‑bath units; Each unit includes new kitchens and bathrooms with stainless steel appliances; New roof plus impact windows for added durability and protection
