Renovated Quadplex with Impact
For Sale
$1,379,000
2247 SW 9th St, Miami, FL 33135
Updated electrical service and impact-rated windows and doors complement this four-unit property.
Property Size2,100 SF
Price / SF$656.67
Days on Market32
Property Features for 2247 SW 9th St
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Quadruplex
Additional Details
Gross Income
$106,800
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,916
Building Details
Building Size
2,100 SF
Year Built
1955
Buildings
1
Listing Agency:
Assured Investments Realty, LLC
(305) 371-8459
Listed By:
Juan Santamaria · License #3308114
Source:
Miamibrokersgroup
Added: Jul 28
Changed: Aug 24
Last Checked: Aug 26 at 1:46PM
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 Assured Investments Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1955, this renovated quadplex contains four residential units within 2,100 square feet. Improvements include upgraded electrical service, impact windows and doors, and a finalized 40 year inspection. The property combines two operating formats: Units 1 and 2 are furnished room-by-room through PadSplit, while Units 3 and 4 are conventional one-bedroom apartments on month-to-month terms.
The property is in Miami’s Little Havana, one block from Calle Ocho and along the SW 22nd Avenue corridor. Reported mobility scores include a 67 WalkScore, 52 TransitScore, and 48 BikeScore, providing context for access by foot, transit, and bicycle.
The property is in Miami’s Little Havana, one block from Calle Ocho and along the SW 22nd Avenue corridor. Reported mobility scores include a 67 WalkScore, 52 TransitScore, and 48 BikeScore, providing context for access by foot, transit, and bicycle.
Key Highlights
- Renovated 4‑unit quadplex totaling 2,100 square feet
- Built in 1955 with a finalized 40 year inspection
- Upgraded electrical service
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
$42,117
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
3.05%
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%
$842,340
$842.3K
Cap Rate 7%
$601,671
$601.7K
Cap Rate 9%
$467,967
$468.0K
Market Conditions
NOI Build-Up for 2,100 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
$64.3K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.2K $28.65/SF
− OpEx
−$18.0K −$8.60/SF
NOI
$42.1K $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%
$842,340
Cap Rate 7%
$601,671
Cap Rate 9%
$467,967
Alternative Uses
Best Use
Multifamily LT 5
$601.7K
$526.5K – $702.0K
NOI $42,117 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$554.2K
$484.9K – $646.6K
NOI $38,794 @ 7.0% cap · market cap 2.81%
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.65M
NOI $99,226 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 - Updated electrical service and impact-rated windows and doors complement this four-unit property.
Where is this quadplex located?
The property is located at 2247 SW 9th St Miami, FL.
What is the asking price?
The asking price for this property is $1,379,000.
What are key features of this property?
This property features: Renovated 4‑unit quadplex totaling 2,100 square feet; Built in 1955 with a finalized 40 year inspection; Upgraded electrical service
