Four-Unit Quadplex with Separate
For Sale
$689,500
2930 Northwest 14th Avenue, Miami, FL 33142
Three-building residential income property with all units currently leased and separately metered utilities.
Property Size2,189 SF
Price / SF$314.98
Days on Market313
Property Features for 2930 Northwest 14th Avenue
General Information
Standard status
Active
Size
2,189 SF
Property subtype
Multi-Family Income / Fourplex
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,082
Building Details
Year Built
1936
Buildings
3
Tenancy
Multi
Listing Agency:
Belhouse Real Estate, LLC
(305) 921-9789
Listed By:
Nacire Eid · License #3366933
(305) 921-9789
Source:
Compass
Added: Oct 22, 2025
Changed: Aug 29
Last Checked: Aug 29 at 7:39PM
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 Belhouse Real Estate, LLC
Investment Insights
Based on property information with market context.
Located at 2930 Northwest 14th Avenue in Miami, Florida, this quadplex property comprises three buildings containing four income-producing residential units. The units are currently rented, with rents identified as below market. The property was built in 1936 and has a roof replaced six years ago.
Separate utility meters serve the property. Electricity for the main building is currently included in the rent. The reported NOI is 10%, providing an established income profile across the four-unit configuration.
Separate utility meters serve the property. Electricity for the main building is currently included in the rent. The reported NOI is 10%, providing an established income profile across the four-unit configuration.
Key Highlights
- Four income‑producing units across three buildings
- All units are currently rented below market value
- Roof replacement completed six years ago
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
$43,902
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
6.37%
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%
$878,040
$878.0K
Cap Rate 7%
$627,171
$627.2K
Cap Rate 9%
$487,800
$487.8K
Market Conditions
NOI Build-Up for 2,189 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
$67.0K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$62.7K $28.65/SF
− OpEx
−$18.8K −$8.60/SF
NOI
$43.9K $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%
$878,040
Cap Rate 7%
$627,171
Cap Rate 9%
$487,800
Alternative Uses
Best Use
Multifamily LT 5
$627.2K
$548.8K – $731.7K
NOI $43,902 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$577.7K
$505.5K – $674.0K
NOI $40,438 @ 7.0% cap · market cap 5.86%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,431 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
520
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 - Three-building residential income property with all units currently leased and separately metered utilities.
Where is this quadplex located?
The property is located at 2930 Northwest 14th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $689,500.
What are key features of this property?
This property features: Four income‑producing units across three buildings; All units are currently rented below market value; Roof replacement completed six years ago
