Two-Property Quadplex
For Sale
$2,650,000
1910 and 1920 Biarritz Dr, Miami Beach, FL 33141
Residential Income, Miami Beach, FL
Property Size5,764 SF
Lot Size13,324.00 Acres
Price / SF$459.75
Days on Market62
Property Features for 1910 and 1920 Biarritz Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Bedrooms
8
Full bathrooms
8
Rooms
Bathroom 8, Bathroom 4, Bedroom 6, Bathroom 7, Bedroom 8, Bedroom 4, Bedroom 7, Bathroom 2, Bathroom 6, Bathroom 3, Bathroom 5, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1
Window features
Blinds
Patio and Porch features
Patio
Exterior features
Balcony, Patio, Room For Pool
Subdivision
ISLE OF NORMANDY MIAMI VI
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
02-32-10-002-0960
Size
5,764 SF
Lot size
13,324.00 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
02-3210-002-0960 AND 02-3210-002-0950
Tax Annual Amount
29486
Legal Description
02-3210-002-0960 AND 02-3210-002-0950
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Wall Furnace
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1948
Floors in Building
2
Flooring type
Hardwood, Tile, Wood
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Howard Chase Real Estate, LLC
(305) 532-7470
Listed By:
Howard Chase · License #3175255
(786) 566-3505
Added: Jul 18
Changed: Sep 16
Last Checked: Sep 17 at 12:06AM
MLS# A11319397
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 offering combines two contiguous quadplex properties totaling eight residential units. Each apartment is configured as a one-bedroom, one-bath unit, and all units are currently rented. Seven of the eight apartments have been renovated, while both buildings have new roofs. The improvements total 5,764 square feet and were built in 1948, with block construction, patios, balconies, public sewer, and cable availability. Interior systems include a mix of central and wall heating, along with central air and window or wall/window cooling.
The properties are located at 1910 and 1920 Biarritz Dr in Miami Beach’s Normandy Isle, one block from the bay. Normandy Isle Park, a golf course, waterfront residences, Walgreens, Publix, and beach access are identified in the surrounding area. The two lots together cover 13,324 square feet and include room for a pool. The offering can continue as an eight-unit rental property or be evaluated for future redevelopment, subject to design and applicable approvals.
The properties are located at 1910 and 1920 Biarritz Dr in Miami Beach’s Normandy Isle, one block from the bay. Normandy Isle Park, a golf course, waterfront residences, Walgreens, Publix, and beach access are identified in the surrounding area. The two lots together cover 13,324 square feet and include room for a pool. The offering can continue as an eight-unit rental property or be evaluated for future redevelopment, subject to design and applicable approvals.
Key Highlights
- Two contiguous quadplexes with 8 total units
- All 8 units are 1+1 layouts and fully rented
- 5,764 square feet across buildings constructed in 1948
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
$96,085
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
3.63%
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%
$1,921,700
$1.9M
Cap Rate 7%
$1,372,643
$1.4M
Cap Rate 9%
$1,067,611
$1.1M
Market Conditions
NOI Build-Up for 5,764 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
$145.3K $25.20/SF
− Vacancy
−$8.0K −$1.39/SF
EGI
$137.3K $23.81/SF
− OpEx
−$41.2K −$7.14/SF
NOI
$96.1K $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%
$1,921,700
Cap Rate 7%
$1,372,643
Cap Rate 9%
$1,067,611
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $96,085 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,646 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,702 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,005
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
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?
Quadplex - Eight fully rented one-bedroom units span two buildings, with seven apartments renovated and both roofs recently replaced.
Where is this quadplex located?
The property is located at 1910 and 1920 Biarritz Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Two contiguous quadplexes with 8 total units; All 8 units are 1+1 layouts and fully rented; 5,764 square feet across buildings constructed in 1948
