Renovated Quadplex
1940 NW 31 St. Miami, FL 33142
For Sale
Contact for pricing
Pending
Five one-story four-unit buildings offer renovated 1-bedroom, 1-bath residences with current rental income.
Property Size10,377 SF
Days on Market105
Property Features for 1940 NW 31 St.
General Information
- Standard status
- Pending
- Size
- 10,377 SF
- Property subtype
- Industrial
Listing Agency:
Eleven Trust Real Estate Services
(305) 244-3880
Listed By:
Sharif Bula · License #3057657
Source:
Crexi
Added: Apr 11
Changed: Jul 23
Last Checked: Jul 23 at 11:06AM
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 Eleven Trust Real Estate Services
Investment Insights
Based on property information with market context.
The portfolio includes five one-story buildings, each comprised of four 1-bedroom, 1-bath units, constructed in 1956 and 1957. The buildings were completely gutted and renovated in the spring of 2018, with total rentable square footage of 10,377. The offering is positioned as a turn-key, stabilized investment with reported low foreseeable future maintenance costs.
The portfolio is currently generating $272,640 in gross rental income, with a Net Operating Income of $181,677 and a 5.63% capitalization rate. Property 1930 and 1910 are under renovations and are scheduled to be ready before closing, or the buyer may elect to purchase prior to renovation completion.
As presented, pro-forma results include potential gross rental income of $300,000 and a pro-forma Net Operating Income of $207,154, operating at a 6.37% capitalization rate.
The portfolio is currently generating $272,640 in gross rental income, with a Net Operating Income of $181,677 and a 5.63% capitalization rate. Property 1930 and 1910 are under renovations and are scheduled to be ready before closing, or the buyer may elect to purchase prior to renovation completion.
As presented, pro-forma results include potential gross rental income of $300,000 and a pro-forma Net Operating Income of $207,154, operating at a 6.37% capitalization rate.
Key Highlights
- Portfolio of five one‑story buildings, each with four 1‑bedroom/1‑bath units, built in 1956 and 1957
- Total 10,377 rentable SF; each building was completely gutted and renovated in spring 2018
- Current gross rental income of $272,640 with Net Operating Income of $181,677 (5.63% cap rate)
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Five one-story four-unit buildings offer renovated 1-bedroom, 1-bath residences with current rental income.
Where is this quadplex located?
The property is located at 1940 NW 31 St. Miami, FL.
What are key features of this property?
This property features: Portfolio of five one‑story buildings, each with four 1‑bedroom/1‑bath units, built in 1956 and 1957; Total 10,377 rentable SF; each building was completely gutted and renovated in spring 2018; Current gross rental income of $272,640 with Net Operating Income of $181,677 (5.63% cap rate)
