Quadplex Portfolio Near The
For Sale
$2,650,000
1920 Biarritz Drive, Miami Beach, FL 33141
Two contiguous properties provide a multifamily configuration with one-bedroom apartments and established residential improvements.
Property Size5,764 SF
Lot Size0.31 Acres
Price / SF$459.75
Days on Market1417
Property Features for 1920 Biarritz Drive
General Information
Standard status
Active
Size
5,764 SF
Lot size
0.31 Acres
Property subtype
Commercial/Industrial / Fourplex
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$29,486
Building Details
Year Built
1948
Buildings
2
Listing Agency:
Howard Chase Real Estate, LLC
Listed By:
Howard Chase · License #3175255
(305) 532-7470
Source:
Compass
Added: Dec 5, 2022
Changed: Oct 12
Last Checked: Oct 20 at 11:27PM
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 Howard Chase Real Estate, LLC
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Investment Insights
Based on property information with market context.
This multifamily offering combines two contiguous parcels with two separate four-unit buildings, totaling eight apartments. Each residence is configured with one bedroom and one bathroom. The improvements comprise 5,764 square feet and date to 1948, providing an established residential layout across the combined property.
The property is located at 1920 Biarritz Drive in Miami Beach’s Normandy Isle, one block from the bay. Normandy Isle Park, the golf course, waterfront residences, Walgreens, the beach, Publix, and mainland connections are identified among the surrounding destinations. The combined site measures 13,324 square feet and presents two existing quadplex buildings within one assembled holding.
The property is located at 1920 Biarritz Drive in Miami Beach’s Normandy Isle, one block from the bay. Normandy Isle Park, the golf course, waterfront residences, Walgreens, the beach, Publix, and mainland connections are identified among the surrounding destinations. The combined site measures 13,324 square feet and presents two existing quadplex buildings within one assembled holding.
Key Highlights
- Two contiguous lots totaling 13,324 square feet
- Two four‑unit buildings with 8 units total
- All units are configured as 1 bed/1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,085
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two contiguous properties provide a multifamily configuration with one-bedroom apartments and established residential improvements.
Where is this quadplex located?
The property is located at 1920 Biarritz Drive 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 lots totaling 13,324 square feet; Two four‑unit buildings with 8 units total; All units are configured as 1 bed/1 bath
