Four-Unit
For Sale
$780,000
2124 NW 27th St, Miami, FL 33142
Fully rented residential income property with completed 40-year recertification.
Property Size1,750 SF
Days on Market9
Property Features for 2124 NW 27th St
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,941
Building Details
Building Size
1,750 SF
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 340-8901
Listed By:
Mauricio Villasuso · License #3254982
(305) 340-8901
Source:
Elliman
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 26 at 10:37AM
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 Realty Consultants Inc
Investment Insights
Based on property information with market context.
Built in 1960, this quadplex contains four residential units, each configured with one bedroom and one bathroom. The 40-year recertification has been completed, and all units are currently rented.
The property is located at 2124 NW 27th St in Miami, Florida 33142. Walk Score is 68, indicating a somewhat walkable setting, while Transit Score is 60 and Bike Score is 53.
The property is located at 2124 NW 27th St in Miami, Florida 33142. Walk Score is 68, indicating a somewhat walkable setting, while Transit Score is 60 and Bike Score is 53.
Key Highlights
- Four‑unit residential building with one‑bedroom, one‑bath units
- All units rented
- 40‑year recertification complete
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
$35,097
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
4.50%
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%
$701,940
$701.9K
Cap Rate 7%
$501,386
$501.4K
Cap Rate 9%
$389,967
$390.0K
Market Conditions
NOI Build-Up for 1,750 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
$53.6K $30.60/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$50.1K $28.65/SF
− OpEx
−$15.0K −$8.60/SF
NOI
$35.1K $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 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%
$701,940
Cap Rate 7%
$501,386
Cap Rate 9%
$389,967
Alternative Uses
Best Use
Multifamily LT 5
$501.4K
$438.7K – $585.0K
NOI $35,097 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$461.8K
$404.1K – $538.8K
NOI $32,328 @ 7.0% cap · market cap 4.14%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,688 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,965
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented residential income property with completed 40-year recertification.
Where is this quadplex located?
The property is located at 2124 NW 27th St Miami, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Four‑unit residential building with one‑bedroom, one‑bath units; All units rented; 40‑year recertification complete
