Updated
New
For Sale
$1,500,000
414 NW 53rd Street, Miami, FL 33127
Four leased residences provide a fully occupied multifamily asset near the Miami Design District.
Property Size1,763 SF
Price / SF$545.06
Days on Market7
Property Features for 414 NW 53rd Street
General Information
Standard status
Active
Size
1,763 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Occupancy
100%
Site & Location
Neighborhood
Edison
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,600
Building Details
Building Size
1,763 SF
Year Built
1926
Stories
2
Listing Agency:
Realty One Group Royal Oaks
Listed By:
Luis C Padilla · License #SL699832
(305) 785-7805
Source:
Laerrealty
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 28 at 5:04AM
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 Realty One Group Royal Oaks
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Investment Insights
Based on property information with market context.
This fourplex contains four residences across 2,752 square feet. The building was constructed in 1926 and has been remodeled, with updated kitchens and bathrooms in each unit. All four units are leased, with 100% occupancy.
The property is at 414 NW 53rd Street in Miami, near the Miami Design District. Zoning is designated 5700.
The property is at 414 NW 53rd Street in Miami, near the Miami Design District. Zoning is designated 5700.
Key Highlights
- Four units, all leased and 100% occupied
- 2,752 square feet of building area
- Remodeled property with updated kitchens and bathrooms in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,193
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,103,860
$1.1M
Cap Rate 7%
$788,471
$788.5K
Cap Rate 9%
$613,256
$613.3K
Market Conditions
NOI Build-Up for 2,752 SF
Gross rent
$84.2K $30.60/SF
− Vacancy
−$5.4K −$1.95/SF
EGI
$78.8K $28.65/SF
− OpEx
−$23.7K −$8.60/SF
NOI
$55.2K $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 Rate 5%
$1,103,860
Cap Rate 7%
$788,471
Cap Rate 9%
$613,256
Alternative Uses
Best Use
Multifamily LT 5
$788.5K
$689.9K – $919.9K
NOI $55,193 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$726.3K
$635.5K – $847.3K
NOI $50,839 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,033 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four leased residences provide a fully occupied multifamily asset near the Miami Design District.
Where is this quadplex located?
The property is located at 414 NW 53rd Street Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four units, all leased and 100% occupied; 2,752 square feet of building area; Remodeled property with updated kitchens and bathrooms in each unit
