4-Unit Multifamily
New
For Sale
$625,000
3121 NW 133RD Street #1-4, Opa Locka, FL 33054
Four one-bedroom residences with recent building-system updates and flexible month-to-month occupancy.
Property Size2,948 SF
Price / SF$212.01
Days on Market4
Property Features for 3121 NW 133RD Street #1-4
General Information
Standard status
Active
Size
2,948 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
0100
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$15,700
Building Details
Building Size
2,948 SF
Year Built
1971
Stories
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Corbin Mitchell · License #3291178
(954) 593-0181
Source:
Laerrealty
Added: Sep 5
Changed: Sep 8
Last Checked: Sep 8 at 4:53AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 4-unit multifamily property contains four 1-bedroom, 1-bath residences. Three units are occupied under month-to-month arrangements, providing an existing rental component with lease flexibility. Property improvements include a new permitted roof and new water heaters serving all 4 units.
The property is located in Opa-locka with access to NW 135th St, Gratigny Pkwy, and major Miami-Dade corridors. Built in 1971, it is also rated Somewhat Bikeable with a bike score of 49 and Car-Dependent with a walk score of 39.
The property is located in Opa-locka with access to NW 135th St, Gratigny Pkwy, and major Miami-Dade corridors. Built in 1971, it is also rated Somewhat Bikeable with a bike score of 49 and Car-Dependent with a walk score of 39.
Key Highlights
- 4‑unit multifamily property with four 1BR/1BA residences
- 3 of 4 units currently rented month‑to‑month
- New permitted roof
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
$54,460
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
8.71%
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%
$1,089,200
$1.1M
Cap Rate 7%
$778,000
$778.0K
Cap Rate 9%
$605,111
$605.1K
Market Conditions
NOI Build-Up for 2,948 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
$106.1K $36.00/SF
− Vacancy
−$7.1K −$2.41/SF
EGI
$99.0K $33.59/SF
− OpEx
−$44.6K −$15.11/SF
NOI
$54.5K $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%
$1,089,200
Cap Rate 7%
$778,000
Cap Rate 9%
$605,111
Alternative Uses
Best Use
Multifamily LT 5
$844.6K
$739.1K – $985.4K
NOI $59,124 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$778.0K
$680.8K – $907.7K
NOI $54,460 @ 7.0% cap · market cap 8.71%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,294 @ 7.0% cap · market cap 22.29%
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
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
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 - Four one-bedroom residences with recent building-system updates and flexible month-to-month occupancy.
Where is this quadplex located?
The property is located at 3121 NW 133RD Street #1-4 Opa Locka, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 4‑unit multifamily property with four 1BR/1BA residences; 3 of 4 units currently rented month‑to‑month; New permitted roof
