2024-Built Fourplex with Separate
205 Northwest 159th Street Miami, FL 33169
205 Northwest 159th Street, Miami, FL, 33169
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For Sale
Contact for pricing
Four large, separately metered units totaling 6,756 SF on a corner lot, built in 2024 and fully leased.
Property Size6,756 SF
Price / SF$324.16
Days on Market23
Property Features for 205 Northwest 159th Street
General Information
- Standard status
- Active
- Size
- 6,756 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing agency
Fausto Commercial
(786) 261-5393
Listed by
Robin Perez · License #3613905
Source
Crexi
Added: Jun 30 Updated: Jul 21 at 5:03PM Checked: Jul 21 at 5:03PM
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 Fausto Commercial
Investment Insights
Based on property information with market context.
A 2024-built fourplex featuring four large 4-bedroom, 3-bath units totaling 6,756 square feet. The building is constructed of concrete block and is separately metered so tenants pay their own utilities. The property is fully leased to Section 8 tenants, and it is still under builder warranty.
Set on a 16,489-square-foot corner lot in North Miami-Dade, with convenient access to I-95 and the Florida Turnpike, and minutes from Aventura and Hard Rock Stadium. Current reported income is $180,888 annually with steady, government-backed rent.
For sale at $2,190,000 ($547,500 per unit), representing a 7.13% cap today per the seller’s figures, with an indicated path to a 7.49% cap by adjusting two units to Section 8 rents.
Set on a 16,489-square-foot corner lot in North Miami-Dade, with convenient access to I-95 and the Florida Turnpike, and minutes from Aventura and Hard Rock Stadium. Current reported income is $180,888 annually with steady, government-backed rent.
For sale at $2,190,000 ($547,500 per unit), representing a 7.13% cap today per the seller’s figures, with an indicated path to a 7.49% cap by adjusting two units to Section 8 rents.
Key Highlights
- 2024‑built fourplex with four large units totaling 6,756 SF on a 16,489 SF corner lot
- All four units are 100% leased to Section 8 tenants, generating $180,888 in annual rent
- Each unit is separately metered so tenants pay their own utilities
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $206.7k | $30.60 |
| − Vacancy | −$13.2k | −$1.95 |
| EGI | $193.6k | $28.65 |
| − OpEx | −$58.1k | −$8.60 |
| NOI | $135.5k | $20.06 |
6,756 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.94M
$1.69M – $2.26M
NOI $135,495 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,806 @ 7.0% cap · market cap 5.70%
Theoretical Best
Specialty Retail
$4.56M
$3.99M – $5.32M
NOI $319,224 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four large, separately metered units totaling 6,756 SF on a corner lot, built in 2024 and fully leased.
Where is this quadplex located?
The property is located at 205 Northwest 159th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: 2024‑built fourplex with four large units totaling 6,756 SF on a 16,489 SF corner lot; All four units are 100% leased to Section 8 tenants, generating $180,888 in annual rent; Each unit is separately metered so tenants pay their own utilities
