Turnkey Four-Unit Corner
590 Southwest 23rd Avenue Miami, FL 33135
For Sale
$2,300,000
Fully renovated four-unit multifamily property on a corner lot with updated kitchens and bathrooms.
Property Size4,136 SF
Price / SF$556.09
Days on Market82
Property Features for 590 Southwest 23rd Avenue
General Information
- Standard status
- Active
- Size
- 4,136 SF
- Property subtype
- Multi-Family Income / Fourplex
Building Details
- Year Built
- 1929
Listing Agency:
One Stop Realty
(305) 594-0900
Listed By:
Byron Navarro · License #3466549
(305) 594-0900
Source:
Compass
Added: May 3
Changed: Jul 21
Last Checked: Jul 23 at 7:07AM
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 One Stop Realty
Investment Insights
Based on property information with market context.
This fully renovated four-unit multifamily property is offered as a turnkey, income-producing asset. The interiors feature beautifully updated kitchens and bathrooms, modern finishes, stylish flooring, and spacious, light-filled layouts.
The property sits on a prominent corner lot, which supports strong curb appeal and provides tenants convenient access. The asset is described as being in the heart of Little Havana, just minutes from Downtown Miami, major highways, shopping, dining, and cultural attractions.
Each unit benefits from the renovation updates throughout the property, positioning it as a move-in-ready residential income option for an investor or an owner-occupant.
The property sits on a prominent corner lot, which supports strong curb appeal and provides tenants convenient access. The asset is described as being in the heart of Little Havana, just minutes from Downtown Miami, major highways, shopping, dining, and cultural attractions.
Each unit benefits from the renovation updates throughout the property, positioning it as a move-in-ready residential income option for an investor or an owner-occupant.
Key Highlights
- Fully renovated four‑unit multifamily property on a corner lot
- Updated kitchens and bathrooms throughout the four units
- Modern finishes and stylish flooring in spacious, light‑filled interiors
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.6k | $30.60 |
| − Vacancy | −$8.1k | −$1.95 |
| EGI | $118.5k | $28.65 |
| − OpEx | −$35.5k | −$8.60 |
| NOI | $82.9k | $20.06 |
4,136 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $82,950 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$1.09M
$955.1K – $1.27M
NOI $76,406 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$2.79M
$2.44M – $3.26M
NOI $195,428 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully renovated four-unit multifamily property on a corner lot with updated kitchens and bathrooms.
Where is this quadplex located?
The property is located at 590 Southwest 23rd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Fully renovated four‑unit multifamily property on a corner lot; Updated kitchens and bathrooms throughout the four units; Modern finishes and stylish flooring in spacious, light‑filled interiors
