Remodeled Quadplex with
For Sale
$1,970,000
251 NW 57th Ave, Miami, FL 33126
Residential Income, Miami, FL
Property Size3,768 SF
Price / SF$522.82
Days on Market48
Property Features for 251 NW 57th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
6107
Bedrooms
8
Full bathrooms
6
Rooms
Bedroom 5, Bathroom 1, Bathroom 5, Bedroom 8, Bedroom 4, Bathroom 4, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 6, Bathroom 6, Bedroom 2, Bathroom 2
Parking
6
Subdivision
LIVINGSTONE PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-06-017-0420
Size
3,768 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
6 54 41 LIVINGSTONE PARK PB 39-29 LOT 17 BLK 3 LOT SIZE 50.000 X 113 OR 9203-951
Tax Annual Amount
14990
Legal Description
6 54 41 LIVINGSTONE PARK PB 39-29 LOT 17 BLK 3 LOT SIZE 50.000 X 113 OR 9203-951
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Rejoice Realty Group, Inc.
(305) 207-5777
Listed By:
Abel Diaz Baracaldo · License #3403297
(786) 716-2254
Added: Jul 21
Changed: Sep 4
Last Checked: Sep 6 at 8:06AM
MLS# A12057635
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 four-unit residential income property contains 3,768 square feet and was built in 1960. The building is constructed with block materials and features laminate flooring, a shingle roof, wall-furnace heating, and wall or window unit cooling. A new roof is backed by a 15-year warranty.
The sale includes furniture, appliances, decorative items, and operating resources currently used at the property. Public water and public sewer serve the building, with cable available. The property has eight bedrooms and six bathrooms and is located at 251 NW 57th Ave in Miami, Florida.
The property currently produces monthly income and has consistent occupancy. Its existing furnishings and operating materials support continued use as a residential rental property.
The sale includes furniture, appliances, decorative items, and operating resources currently used at the property. Public water and public sewer serve the building, with cable available. The property has eight bedrooms and six bathrooms and is located at 251 NW 57th Ave in Miami, Florida.
The property currently produces monthly income and has consistent occupancy. Its existing furnishings and operating materials support continued use as a residential rental property.
Key Highlights
- Four‑unit property with 3,768 square feet
- Eight bedrooms and six bathrooms
- New shingle roof with a 15‑year warranty
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
$75,569
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
3.84%
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%
$1,511,380
$1.5M
Cap Rate 7%
$1,079,557
$1.1M
Cap Rate 9%
$839,656
$839.7K
Market Conditions
NOI Build-Up for 3,768 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
$115.3K $30.60/SF
− Vacancy
−$7.3K −$1.95/SF
EGI
$108.0K $28.65/SF
− OpEx
−$32.4K −$8.60/SF
NOI
$75.6K $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%
$1,511,380
Cap Rate 7%
$1,079,557
Cap Rate 9%
$839,656
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$944.6K – $1.26M
NOI $75,569 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$994.4K
$870.1K – $1.16M
NOI $69,608 @ 7.0% cap · market cap 3.53%
Theoretical Best
Specialty Retail
$2.54M
$2.23M – $2.97M
NOI $178,040 @ 7.0% cap · market cap 9.04%
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
1,733
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
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 - Four updated units are offered with furniture, appliances, decor, and operating materials for continued rental use.
Where is this quadplex located?
The property is located at 251 NW 57th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,970,000.
What are key features of this property?
This property features: Four‑unit property with 3,768 square feet; Eight bedrooms and six bathrooms; New shingle roof with a 15‑year warranty
