Concrete Fourplex with Large
For Sale
$1,200,000
Pending
450 SW 9th St, Miami, FL 33130
Four residential units include a first-floor owner’s residence and three upstairs apartments.
Property Size4,484 SF
Days on Market120
Property Features for 450 SW 9th St
General Information
Standard status
Pending
Size
4,484 SF
Property subtype
Investment
Units
Unit Mix
1 x 4BR/2.5BA, 3 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,771
Building Details
Building Size
4,484 SF
Year Built
1975
Buildings
1
Stories
2
Construction
concrete
Listing Agency:
Douglas Elliman
Listed By:
Miguel Solis PA · License #0624178
(305) 343-9554
Source:
Elliman
Added: Jun 17
Changed: Oct 5
Last Checked: Oct 12 at 8:50PM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
Built in 1975, this 4,484-square-foot fourplex contains a first-floor owner’s residence with 4 bedrooms, 2.5 bathrooms, formal living and dining rooms, a family room, and an eat-in kitchen. The upper level adds three 2-bedroom, 1-bath apartments with substantial living and dining areas. Concrete construction, a concrete second floor, and terrazzo flooring are among the building’s physical features. The property also provides more than 9 parking spaces.
Located at 450 SW 9th St in Miami, the property is in the West Brickell area, south of Calle Ocho. Brickell, Downtown Miami, Coral Gables, and major transportation corridors are described as minutes away. Zoning is listed as 3900.
Located at 450 SW 9th St in Miami, the property is in the West Brickell area, south of Calle Ocho. Brickell, Downtown Miami, Coral Gables, and major transportation corridors are described as minutes away. Zoning is listed as 3900.
Key Highlights
- 4,484 SF fourplex built in 1975
- Unit mix includes one 4‑bedroom, 2.5‑bath residence and three 2‑bedroom, 1‑bath apartments
- Concrete construction with a concrete second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,929
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,798,580
$1.8M
Cap Rate 7%
$1,284,700
$1.3M
Cap Rate 9%
$999,211
$999.2K
Market Conditions
NOI Build-Up for 4,484 SF
Gross rent
$137.2K $30.60/SF
− Vacancy
−$8.7K −$1.95/SF
EGI
$128.5K $28.65/SF
− OpEx
−$38.5K −$8.60/SF
NOI
$89.9K $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 Rate 5%
$1,798,580
Cap Rate 7%
$1,284,700
Cap Rate 9%
$999,211
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.50M
NOI $89,929 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$1.18M
$1.04M – $1.38M
NOI $82,835 @ 7.0% cap · market cap 6.90%
Theoretical Best
Specialty Retail
$3.03M
$2.65M – $3.53M
NOI $211,871 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
14,203
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include a first-floor owner’s residence and three upstairs apartments.
Where is this quadplex located?
The property is located at 450 SW 9th St Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,484 SF fourplex built in 1975; Unit mix includes one 4‑bedroom, 2.5‑bath residence and three 2‑bedroom, 1‑bath apartments; Concrete construction with a concrete second floor
