Four-Unit
For Sale
$660,000
1992 NW 56th St, Miami, FL 33142
The property has Section 8 approval, and all four residences are configured as one-bedroom, one-bathroom units.
Property Size1,672 SF
Price / SF$394.74
Days on Market129
Property Features for 1992 NW 56th St
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,177
Building Details
Building Size
1,672 SF
Year Built
1948
Listing Agency:
Emporio Real Estate
Listed By:
Ari Banegas · License #3242158
(305) 989-9794
Source:
Emporiore
Added: Jun 22
Changed: Oct 27
Last Checked: Oct 26 at 4:38PM
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 Emporio Real Estate
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Investment Insights
Based on property information with market context.
This four-unit quadplex contains four one-bedroom, one-bathroom residences within 1,672 square feet. The property was built in 1948 and occupies a corner lot. Section 8 approval is noted for the property.
Schools, shopping, employment centers, and major highways are identified among the nearby amenities. The building’s four units share the same bedroom and bathroom configuration.
Schools, shopping, employment centers, and major highways are identified among the nearby amenities. The building’s four units share the same bedroom and bathroom configuration.
Key Highlights
- Four units, each with one bedroom and one bathroom
- 1,672 square feet
- Built in 1948
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,533
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,660
$670.7K
Cap Rate 7%
$479,043
$479.0K
Cap Rate 9%
$372,589
$372.6K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$51.2K $30.60/SF
− Vacancy
−$3.3K −$1.95/SF
EGI
$47.9K $28.65/SF
− OpEx
−$14.4K −$8.60/SF
NOI
$33.5K $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 Rate 5%
$670,660
Cap Rate 7%
$479,043
Cap Rate 9%
$372,589
Alternative Uses
Best Use
Multifamily LT 5
$479.0K
$419.2K – $558.9K
NOI $33,533 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$441.3K
$386.1K – $514.8K
NOI $30,888 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$1.13M
$987.5K – $1.32M
NOI $79,003 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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 - The property has Section 8 approval, and all four residences are configured as one-bedroom, one-bathroom units.
Where is this quadplex located?
The property is located at 1992 NW 56th St Miami, FL.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Four units, each with one bedroom and one bathroom; 1,672 square feet; Built in 1948
