Four-Unit Income
For Sale
Contact for pricing
26 NW 24th Ct, Miami, FL 33125
Four-unit quadplex with a vacant front house at closing and three rear rental units for immediate income.
Property Size3,535 SF
Price / SF$202.26
Days on Market59
Property Features for 26 NW 24th Ct
General Information
Standard status
Active
Size
3,535 SF
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
0100
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
London Foster Realty
(786) 303-0653
Listed By:
Tayana Campos · License #3352052
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Jul 16 at 11:39AM
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 London Foster Realty
Investment Insights
Based on property information with market context.
This four-unit quadplex includes a spacious 3BD/2BA main house in the front plus three separate rear income-producing units. The property is currently configured with one 1/1 unit, another 1/1 unit with a kitchenette, and a studio-style 1/1 unit. The main house is owner-occupied and will be delivered vacant at closing, providing flexibility for an owner-occupant while retaining rental income from the rear units. The sale is offered strictly AS-IS.
Located at 26 NW 24th Ct in Miami, Florida 33125, the property benefits from nearby access to major employment and entertainment areas, including Marlins Park, Downtown Miami, Brickell, Coral Gables, and MIA Airport. Public remarks note convenient access to I-95 and SR-836 Dolphin Expressway, as well as proximity to Little Havana.
For investors or owner-occupants, the current setup offers defined, rent-producing units alongside a front residence that can be lived in or upgraded after closing. Public remarks indicate the rear units are generating $2,100 per month gross rental income and that rents are below market value, supporting a practical renovation-and-repositioning approach. Showings require 24-hour notice and tenants should not be disturbed.
Located at 26 NW 24th Ct in Miami, Florida 33125, the property benefits from nearby access to major employment and entertainment areas, including Marlins Park, Downtown Miami, Brickell, Coral Gables, and MIA Airport. Public remarks note convenient access to I-95 and SR-836 Dolphin Expressway, as well as proximity to Little Havana.
For investors or owner-occupants, the current setup offers defined, rent-producing units alongside a front residence that can be lived in or upgraded after closing. Public remarks indicate the rear units are generating $2,100 per month gross rental income and that rents are below market value, supporting a practical renovation-and-repositioning approach. Showings require 24-hour notice and tenants should not be disturbed.
Key Highlights
- 4‑unit quadplex with 3 rear rental units generating $2,100/month gross rental income
- Front main house is 3BD/2BA and delivered vacant at closing
- Rear unit mix: 1/1 full kitchen ($800/mo), 1/1 kitchenette ($650/mo), and studio‑style unit ($650/mo)
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
$65,303
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
9.13%
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%
$1,306,060
$1.3M
Cap Rate 7%
$932,900
$932.9K
Cap Rate 9%
$725,589
$725.6K
Market Conditions
NOI Build-Up for 3,535 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
$127.3K $36.00/SF
− Vacancy
−$8.5K −$2.41/SF
EGI
$118.7K $33.59/SF
− OpEx
−$53.4K −$15.11/SF
NOI
$65.3K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,306,060
Cap Rate 7%
$932,900
Cap Rate 9%
$725,589
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$886.2K – $1.18M
NOI $70,896 @ 7.0% cap · market cap 9.92%
Second Best
Apartment 5plus
$932.9K
$816.3K – $1.09M
NOI $65,303 @ 7.0% cap · market cap 9.13%
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.78M
NOI $167,030 @ 7.0% cap · market cap 23.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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-unit quadplex with a vacant front house at closing and three rear rental units for immediate income.
Where is this quadplex located?
The property is located at 26 NW 24th Ct Miami, FL.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 4‑unit quadplex with 3 rear rental units generating $2,100/month gross rental income; Front main house is 3BD/2BA and delivered vacant at closing; Rear unit mix: 1/1 full kitchen ($800/mo), 1/1 kitchenette ($650/mo), and studio‑style unit ($650/mo)
