Four-Unit Residential Income
1865 NW 16th St Miami, FL 33125
For Sale
$1,350,000
Four-unit multifamily building with updated interiors, a 2019 roof, and off-street parking on a fenced, gated lot.
Property Size2,638 SF
Price / SF$511.75
Days on Market546
Property Features for 1865 NW 16th St
General Information
- Standard status
- Active
- Size
- 2,638 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1925
Listing Agency:
Keter Estates LLC
(305) 761-1612
Listed By:
Erica Mizrahi · License #3239938
(305) 761-1612
Source:
Exitrealty
Added: Jan 24, 2025
Changed: Jul 23
Last Checked: Jul 23 at 8:03AM
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 Keter Estates LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property offers updated living spaces across all units, including updated AC units, flooring, bathrooms, and kitchens. The building also features private patios or balconies, a new roof installed in 2019, and a fenced and gated site with off-street parking. Utilities are separately metered with four electric meters and one water meter.
Located in the Medical District/Allapatta area, the property is approximately three blocks from the Miami River. Access is described as convenient to major corridors including 395, 195, and I-95, as well as Downtown, Brickell, Mid-Town, Wynwood, and the airport.
The current rent roll is noted at $8,500 per month ($102,000 annually). The building is reported to be in good condition with solid tenants.
Located in the Medical District/Allapatta area, the property is approximately three blocks from the Miami River. Access is described as convenient to major corridors including 395, 195, and I-95, as well as Downtown, Brickell, Mid-Town, Wynwood, and the airport.
The current rent roll is noted at $8,500 per month ($102,000 annually). The building is reported to be in good condition with solid tenants.
Key Highlights
- Four‑unit multifamily building (built 1925) in the Medical District/Allapattah
- All units have updated AC units, flooring, bathrooms, and kitchens
- New roof installed in 2019
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 | $80.7k | $30.60 |
| − Vacancy | −$5.1k | −$1.95 |
| EGI | $75.6k | $28.65 |
| − OpEx | −$22.7k | −$8.60 |
| NOI | $52.9k | $20.06 |
2,638 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$755.8K
$661.3K – $881.8K
NOI $52,907 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$696.2K
$609.2K – $812.2K
NOI $48,733 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,647 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Henequen Industries Corporation
Industrial Manufacturer
FAQs
What type of property is this?
Quadplex - Four-unit multifamily building with updated interiors, a 2019 roof, and off-street parking on a fenced, gated lot.
Where is this quadplex located?
The property is located at 1865 NW 16th St Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑unit multifamily building (built 1925) in the Medical District/Allapattah; All units have updated AC units, flooring, bathrooms, and kitchens; New roof installed in 2019
