Four-Unit Block
For Sale
$675,000
551-553 NE 133rd St, North Miami, FL 33161
Residential Income, North Miami, FL
Property Size2,000 SF
Price / SF$337.50
Days on Market58
Property Features for 551-553 NE 133rd St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3700
Parking
8
Subdivision
ALBERTA BISCAYNE 2ND REV
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
06-22-30-022-0130
Size
2,000 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
ALBERTA BISCAYNE 2ND REV PL PB 39-87 W1/2 LOT 5 & E25FT LOT 6 BLK 2 LOT SIZE 75.000 X 137 OR 10417-1157 0579 6
Tax Annual Amount
10058
Legal Description
ALBERTA BISCAYNE 2ND REV PL PB 39-87 W1/2 LOT 5 & E25FT LOT 6 BLK 2 LOT SIZE 75.000 X 137 OR 10417-1157 0579 6
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating)
Cooling system
Zoned, Electric
Building Details
Year built
1948
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Elite Sales Group
(305) 554-1544
Listed By:
Marcus Da Silveira · License #3497219
(954) 243-5450
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 11 at 1:06AM
MLS# A11988238
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex contains four fully rented units within a 2,000-square-foot residential income property. The building was constructed in 1948 with block construction, laminate flooring, a shingle roof, and zoned electric systems for both heating and cooling. Cable service is available, and the property connects to public sewer.
Located at 551-553 NE 133rd St in North Miami, the property is near shopping, dining, major highways, and local beaches. Its four-unit configuration and current occupancy provide a straightforward multifamily setup for evaluating residential income ownership.
Located at 551-553 NE 133rd St in North Miami, the property is near shopping, dining, major highways, and local beaches. Its four-unit configuration and current occupancy provide a straightforward multifamily setup for evaluating residential income ownership.
Key Highlights
- Four fully rented units
- 2,000 square feet of property size
- Block construction dating to 1948
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
$33,340
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
4.94%
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%
$666,800
$666.8K
Cap Rate 7%
$476,286
$476.3K
Cap Rate 9%
$370,444
$370.4K
Market Conditions
NOI Build-Up for 2,000 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
$50.4K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$47.6K $23.81/SF
− OpEx
−$14.3K −$7.14/SF
NOI
$33.3K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$666,800
Cap Rate 7%
$476,286
Cap Rate 9%
$370,444
Alternative Uses
Best Use
Multifamily LT 5
$476.3K
$416.8K – $555.7K
NOI $33,340 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$439.4K
$384.5K – $512.7K
NOI $30,759 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.01M
$887.9K – $1.18M
NOI $71,028 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully leased configuration with public sewer and zoned electric heating and cooling.
Where is this quadplex located?
The property is located at 551-553 NE 133rd St North Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four fully rented units; 2,000 square feet of property size; Block construction dating to 1948
