Remodeled 4-Unit
For Sale
$1,495,000
329 Southwest 9th Avenue, Miami, FL 33130
Four two-bedroom apartments feature updated interiors, impact windows, central air, and on-site parking.
Property Size3,380 SF
Price / SF$442.31
Days on Market212
Property Features for 329 Southwest 9th Avenue
General Information
Standard status
Active
Size
3,380 SF
Total Parking Spaces
6
Property subtype
Multi-Family Income / Fourplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Cap Rate
5.5%
Taxes and HOA fees
Annual Taxes
$13,795
Amenities
on-site laundry
central air conditioning
Building Details
Year Built
1975
Listing Agency:
Pellego, LLC
Listed By:
Richard Collar · License #3544220
(561) 414-4614
Source:
Compass
Added: Feb 5
Changed: Aug 30
Last Checked: Mar 25 at 7:35PM
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 Pellego, LLC
Investment Insights
Based on property information with market context.
This 4-unit multifamily property in Little Havana was built in 1975 and contains four two-bedroom, one-bath apartments. Each unit has remodeled interiors, impact windows, and central air conditioning. Exterior improvements include a new roof, asphalt paving, fencing with a dumpster enclosure, and new railings, with work completed under permits.
The property provides six on-site parking spaces and coin-operated laundry with 1 new washer and 1 dryer. Three units are leased annually, while one is on a month-to-month arrangement. The in-place cap rate is 5.5%, and the property is identified with zoning code 3900.
The property provides six on-site parking spaces and coin-operated laundry with 1 new washer and 1 dryer. Three units are leased annually, while one is on a month-to-month arrangement. The in-place cap rate is 5.5%, and the property is identified with zoning code 3900.
Key Highlights
- 4‑unit property with four 2‑bedroom, 1‑bath apartments
- 5.5% in‑place cap rate
- Remodeled interiors, impact windows, and central air in all units
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
$67,788
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
4.53%
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%
$1,355,760
$1.4M
Cap Rate 7%
$968,400
$968.4K
Cap Rate 9%
$753,200
$753.2K
Market Conditions
NOI Build-Up for 3,380 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
$103.4K $30.60/SF
− Vacancy
−$6.6K −$1.95/SF
EGI
$96.8K $28.65/SF
− OpEx
−$29.1K −$8.60/SF
NOI
$67.8K $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%
$1,355,760
Cap Rate 7%
$968,400
Cap Rate 9%
$753,200
Alternative Uses
Best Use
Multifamily LT 5
$968.4K
$847.4K – $1.13M
NOI $67,788 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$892.0K
$780.5K – $1.04M
NOI $62,440 @ 7.0% cap · market cap 4.18%
Theoretical Best
Specialty Retail
$2.28M
$2.00M – $2.66M
NOI $159,707 @ 7.0% cap · market cap 10.68%
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
3,822
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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 two-bedroom apartments feature updated interiors, impact windows, central air, and on-site parking.
Where is this quadplex located?
The property is located at 329 Southwest 9th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 4‑unit property with four 2‑bedroom, 1‑bath apartments; 5.5% in‑place cap rate; Remodeled interiors, impact windows, and central air in all units
