Remodeled Quadplex with
For Sale
$1,700,000
2120 Biarritz Dr, Miami Beach, FL 33141
Residential Income, Miami Beach, FL
Property Size3,492 SF
Price / SF$486.83
Days on Market71
Property Features for 2120 Biarritz Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Bedrooms
6
Full bathrooms
5
Rooms
Bathroom 4, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 3, Bathroom 5, Bedroom 1, Bedroom 6
Parking
5
Exterior features
Lighting, Shed
Subdivision
ISLE OF NORMANDY MIAMI VI
Lot features
< 1/4 Acre
Directions
Please use GPS for easy arrival.
Standard status
Active
APN
02-32-10-011-0790
Size
3,492 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
9-10 53 42 MIAMI VIEW SEC-ISLE OF NORMANDY PART 3 PB 40-33 LOT 14 BLK 41 LOT SIZE 51.800 X 125
Tax Annual Amount
18497
Legal Description
9-10 53 42 MIAMI VIEW SEC-ISLE OF NORMANDY PART 3 PB 40-33 LOT 14 BLK 41 LOT SIZE 51.800 X 125
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Wall Furnace
Cooling system
Window Unit(s), Ceiling Fan(s), Wall/Window Unit(s), Zoned, Electric
Water source
Public
Amenities
pool
landscaping
onsite laundry room
Building Details
Year built
1956
Floors in Building
1
Flooring type
Tile, Laminate
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Enrique Metauten · License #3276257
(786) 553-9199
Added: Jul 18
Changed: Sep 26
Last Checked: Sep 26 at 10:06AM
MLS# A12039498
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.
Investment Insights
Based on property information with market context.
This 3,492-square-foot quadplex at 2120 Biarritz Dr. was built in 1956 with concrete-block construction and includes four remodeled units. The configuration comprises two one-bedroom, one-bath residences measuring 796 square feet each, plus two two-bedroom residences of approximately 950 square feet, configured as one 2/2 and one 2/1. Improvements include new appliances, bathrooms, flooring, impact windows, water heaters, and mini-split AC systems. The units also feature modern kitchens, large living and dining areas, ample closets, and private terraces with pool access.
Shared property features include a renovated pool, landscaped grounds, an onsite laundry room, and five dedicated parking spaces. Public water and public sewer serve the property, which also has a shingle roof and cable availability. The quadplex is located in Normandy Isles, Miami Beach, near beaches, intracoastal waterways, parks, schools, supermarkets, and dining. City-required certifications and inspections are current, and the property is offered with a stated 4.73% cap rate.
Shared property features include a renovated pool, landscaped grounds, an onsite laundry room, and five dedicated parking spaces. Public water and public sewer serve the property, which also has a shingle roof and cable availability. The quadplex is located in Normandy Isles, Miami Beach, near beaches, intracoastal waterways, parks, schools, supermarkets, and dining. City-required certifications and inspections are current, and the property is offered with a stated 4.73% cap rate.
Key Highlights
- 3,492‑square‑foot quadplex built in 1956
- Unit mix includes two 1BR/1BA units at 796 sq ft each and two approximately 950 sq ft 2BR units
- All four units remodeled with new appliances, bathrooms, flooring, impact windows, water heaters, and mini‑split AC systems
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,211
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,164,220
$1.2M
Cap Rate 7%
$831,586
$831.6K
Cap Rate 9%
$646,789
$646.8K
Market Conditions
NOI Build-Up for 3,492 SF
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.
Gross rent
$88.0K $25.20/SF
− Vacancy
−$4.8K −$1.39/SF
EGI
$83.2K $23.81/SF
− OpEx
−$24.9K −$7.14/SF
NOI
$58.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,164,220
Cap Rate 7%
$831,586
Cap Rate 9%
$646,789
Alternative Uses
Best Use
Multifamily LT 5
$831.6K
$727.6K – $970.2K
NOI $58,211 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$767.2K
$671.3K – $895.1K
NOI $53,705 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,015 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four updated rental units with shared pool access, private terraces, onsite laundry, and dedicated parking in Miami Beach.
Where is this quadplex located?
The property is located at 2120 Biarritz Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 3,492‑square‑foot quadplex built in 1956; Unit mix includes two 1BR/1BA units at 796 sq ft each and two approximately 950 sq ft 2BR units; All four units remodeled with new appliances, bathrooms, flooring, impact windows, water heaters, and mini‑split AC systems
