Four-Unit Quadplex on Corner
1992 NW 56th St, Miami, FL 33142
For Sale
$650,000
Residential Income, Miami, FL
Property Size1,672 SF
Price / SF$388.76
Days on Market116
Property Features for 1992 NW 56th St
General Information
Property type
Property subtype
Zoning description
Bedrooms
Full bathrooms
Rooms
Parking
Subdivision
Lot features
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(305) 662-7325
Listed By:
Christina Mosquera · License FL #3489514
(305) 778-1880
Added: Jul 18
Changed: Nov 10
Last Checked: Nov 10 at 8:06PM
MLS# A12041165
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.
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Investment Insights
Based on property information with market context.
This 1,672-square-foot quadplex contains four separate one-bedroom, one-bathroom units. The 1948 building is constructed of block and includes vinyl flooring, wall-furnace heating, and wall or window unit cooling. A shingle roof completes the existing improvements, while the corner-lot configuration provides a distinct site layout.
The property is located at 1992 NW 56th St in Miami, Florida 33142. Public water and public sewer serve the building. The asset is Section 8 approved, adding a documented program designation to its multifamily profile. The four-unit arrangement offers a straightforward residential-income configuration within a compact building footprint.
The property is located at 1992 NW 56th St in Miami, Florida 33142. Public water and public sewer serve the building. The asset is Section 8 approved, adding a documented program designation to its multifamily profile. The four-unit arrangement offers a straightforward residential-income configuration within a compact building footprint.
Key Highlights
- Four one‑bedroom, one‑bathroom units
- 1672 square feet of building area
- Section 8 approved
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,533
Cap Rate
5.16%
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 5.16%
Second Best
Apartment 5plus
$441.3K
$386.1K – $514.8K
NOI $30,888 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$1.13M
$987.5K – $1.32M
NOI $79,003 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
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Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
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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
$298,000
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Miami, FL
Properties on Market for Quadplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - The property contains four one-bedroom, one-bathroom units with public water and sewer service.
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 $650,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom units; 1672 square feet of building area; Section 8 approved
