Renovated Four-Unit Residential
53 NE 56th St, Miami, FL 33137
For Sale
$1,290,000
Fully rented residential property with updated unit interiors, parking, and recent building-system improvements.
Property Size2,486 SF
Days on Market54
Property Features for 53 NE 56th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Pack Real Estate Advisors LLC
Listed By:
Demian Pack · License FL #3323781
(305) 767-8766
Source:
Elliman
Added: Sep 18
Changed: Oct 27
Last Checked: Nov 10 at 6:44AM
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 Pack Real Estate Advisors LLC
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Investment Insights
Based on property information with market context.
Built in 1954, this four-unit residential property includes four one-bedroom, one-bathroom apartments within approximately 2,486 square feet of building area on a 5,750-square-foot lot. The units are fully rented and supported by four parking spaces. A 2026 renovation addressed HVAC, plumbing, electrical systems, kitchens, bathrooms, flooring, appliances, laundry facilities, impact windows and doors, fencing, and exterior areas. The property also has completed 40-year recertification per available records.
Located at 53 NE 56th St in Miami, the property is positioned near Buena Vista, the Design District, Midtown, Wynwood, Biscayne Blvd, the Upper East Side, and Downtown Miami. T4-R zoning and Flood Zone X designation are included in the property information. Walk Score is 78, Bike Score is 57, and Transit Score is 48.
Located at 53 NE 56th St in Miami, the property is positioned near Buena Vista, the Design District, Midtown, Wynwood, Biscayne Blvd, the Upper East Side, and Downtown Miami. T4-R zoning and Flood Zone X designation are included in the property information. Walk Score is 78, Bike Score is 57, and Transit Score is 48.
Key Highlights
- Four fully rented 1‑bedroom/1‑bathroom units
- Approximately 2,486 SF building on a 5,750 SF lot
- 2026 renovation included HVAC, plumbing, electrical, interiors, and exterior improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,858
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$997,160
$997.2K
Cap Rate 7%
$712,257
$712.3K
Cap Rate 9%
$553,978
$554.0K
Market Conditions
NOI Build-Up for 2,486 SF
Gross rent
$76.1K $30.60/SF
− Vacancy
−$4.8K −$1.95/SF
EGI
$71.2K $28.65/SF
− OpEx
−$21.4K −$8.60/SF
NOI
$49.9K $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%
$997,160
Cap Rate 7%
$712,257
Cap Rate 9%
$553,978
Alternative Uses
Best Use
Multifamily LT 5
$712.3K
$623.2K – $831.0K
NOI $49,858 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$656.1K
$574.1K – $765.4K
NOI $45,925 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,465 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
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Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Miami, FL
Properties on Market for Quadplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented residential property with updated unit interiors, parking, and recent building-system improvements.
Where is this quadplex located?
The property is located at 53 NE 56th St Miami, FL.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Four fully rented 1‑bedroom/1‑bathroom units; Approximately 2,486 SF building on a 5,750 SF lot; 2026 renovation included HVAC, plumbing, electrical, interiors, and exterior improvements
