Renovated
For Sale
$1,500,000
418 NW 47th St, Miami, FL 33127
Four-unit residential property with reported full occupancy and utilities paid by the landlord.
Property Size3,050 SF
Price / SF$491.80
Days on Market842
Property Features for 418 NW 47th St
General Information
Standard status
Active
Size
3,050 SF
Property subtype
Quadruplex
Occupancy
100%
Site & Location
Neighborhood
Buena Vista West
Additional Details
Multifamily Units
1
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$16,294
Building Details
Building Size
3,050 SF
Year Built
1952
Listing Agency:
EXP Realty LLC
Listed By:
Claudienne Hibbert · License #3022949
(786) 229-6567
Source:
Casacollectiongroup
Added: Jul 10, 2024
Changed: Oct 29
Last Checked: Oct 28 at 10:19AM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
This 3,050-square-foot quadplex was built in 1952 and has undergone renovation. The property is fully rented, with the landlord responsible for electric and water service.
The property is located at 418 NW 47th St in Miami, with Midtown, Miami Beach, South Beach and Downtown Miami identified as nearby destinations.
The property is located at 418 NW 47th St in Miami, with Midtown, Miami Beach, South Beach and Downtown Miami identified as nearby destinations.
Key Highlights
- Four‑unit residential property
- 3,050 square feet; built in 1952
- Renovated and fully rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,169
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,223,380
$1.2M
Cap Rate 7%
$873,843
$873.8K
Cap Rate 9%
$679,656
$679.7K
Market Conditions
NOI Build-Up for 3,050 SF
Gross rent
$93.3K $30.60/SF
− Vacancy
−$5.9K −$1.95/SF
EGI
$87.4K $28.65/SF
− OpEx
−$26.2K −$8.60/SF
NOI
$61.2K $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%
$1,223,380
Cap Rate 7%
$873,843
Cap Rate 9%
$679,656
Alternative Uses
Best Use
Multifamily LT 5
$873.8K
$764.6K – $1.02M
NOI $61,169 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$804.9K
$704.3K – $939.1K
NOI $56,344 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $144,114 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,102
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with reported full occupancy and utilities paid by the landlord.
Where is this quadplex located?
The property is located at 418 NW 47th St 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‑unit residential property; 3,050 square feet; built in 1952; Renovated and fully rented
