Stabilized 12-Unit Multifamily
651 Southwest 4th Avenue Homestead, FL 33030
651 Southwest 4th Avenue, Homestead, FL, 33030
$1,985,000
For Sale
$1,985,000
Stabilized 12-unit multifamily property with renovated 1BR/1BA units and separately metered utilities supporting efficient ownership.
Property Size5,856 SF
Lot Size0.34 Acres
Price / SF$338.97
Days on Market93
Property Features for 651 Southwest 4th Avenue
General Information
- Standard status
- Active
- Size
- 5,856 SF
- Lot size
- 0.34 Acres
- Property subtype
- Residential Income / Fourplex
Building Details
- Year Built
- 1958
Listing Agency
South Florida Real Estate Grp
(305) 254-4545
Listed by
Valentina Verdia · License #3512870
(305) 254-4545
Source
Compass
Added: Apr 18 Checked: Jul 19 at 5:04 am
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 South Florida Real Estate Grp
Investment Insights
Based on property information with market context.
This stabilized 12-unit multifamily property is configured across three buildings on an approximately 15,000 SF corner assemblage. The units are updated 1BR/1BA apartments, featuring renovated interiors with quartz countertops, white shaker-style kitchens, tile flooring, and updated bathrooms.
The property is serviced by separately metered electric and city water/sewer, supporting straightforward day-to-day operations. Ample on-site parking is available, and the assemblage is well positioned near major roadways, transit, shopping, and Historic Downtown Homestead.
For investors seeking a turn-key residential income opportunity, the in-place, renovated unit mix and utility setup are practical for long-term ownership and ongoing management. The three-building layout also provides a manageable configuration within a single corner site in South Miami-Dade.
The property is serviced by separately metered electric and city water/sewer, supporting straightforward day-to-day operations. Ample on-site parking is available, and the assemblage is well positioned near major roadways, transit, shopping, and Historic Downtown Homestead.
For investors seeking a turn-key residential income opportunity, the in-place, renovated unit mix and utility setup are practical for long-term ownership and ongoing management. The three-building layout also provides a manageable configuration within a single corner site in South Miami-Dade.
Key Highlights
- Stabilized 12‑unit multifamily property with updated 1BR/1BA units across three buildings
- Approximately 15,000 SF corner assemblage
- Renovated interiors including quartz countertops, white shaker‑style kitchens, tile flooring, and updated bathrooms
Local Financial Insights For Apartment 5plus
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 | $171.5k | $29.28 |
| − Vacancy | −$7.7k | −$1.32 |
| EGI | $163.7k | $27.96 |
| − OpEx | −$73.7k | −$12.58 |
| NOI | $90.1k | $15.38 |
5,856 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.50M
NOI $90,061 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $207,970 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Stabilized 12-unit multifamily property with renovated 1BR/1BA units and separately metered utilities supporting efficient ownership.
Where is this apartment building located?
The property is located at 651 Southwest 4th Avenue Homestead, FL.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: Stabilized 12‑unit multifamily property with updated 1BR/1BA units across three buildings; Approximately 15,000 SF corner assemblage; Renovated interiors including quartz countertops, white shaker‑style kitchens, tile flooring, and updated bathrooms
