Four-Unit Multifamily
For Sale
$1,600,000
7610 Dickens Avenue, Miami Beach, FL 33141
Two-story income property with a mix of one- and two-bedroom residences.
Property Size3,655 SF
Price / SF$437.76
Days on Market11
Property Features for 7610 Dickens Avenue
General Information
Standard status
Active
Size
3,655 SF
Property subtype
Quadruplex
Building Details
Year Built
1951
Stories
2
Tenancy
Multi
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Patricia Agudelo · License #3266560
Source:
Lehmannflorida
Added: Jul 29
Changed: Aug 2
Last Checked: Aug 7 at 1:11AM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This two-story quadplex contains four residential units totaling 3,655 square feet. The configuration includes two apartments with two bedrooms and one bathroom each, along with two one-bedroom, one-bath apartments. Constructed in 1951, the property offers a defined unit mix within a compact multifamily format.
The property is located at 7610 Dickens Avenue in North Beach, Miami Beach, and is positioned just blocks from the beach. Its four-unit layout provides a straightforward multifamily configuration for ownership or rental operations, subject to the buyer’s independent review of physical, zoning, and permitting matters.
The property is located at 7610 Dickens Avenue in North Beach, Miami Beach, and is positioned just blocks from the beach. Its four-unit layout provides a straightforward multifamily configuration for ownership or rental operations, subject to the buyer’s independent review of physical, zoning, and permitting matters.
Key Highlights
- Four‑unit quadplex with 3,655 square feet
- Two 2‑bedroom, 1‑bath units
- Two 1‑bedroom, 1‑bath units
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
$60,928
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
3.81%
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%
$1,218,560
$1.2M
Cap Rate 7%
$870,400
$870.4K
Cap Rate 9%
$676,978
$677.0K
Market Conditions
NOI Build-Up for 3,655 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
$92.1K $25.20/SF
− Vacancy
−$5.1K −$1.39/SF
EGI
$87.0K $23.81/SF
− OpEx
−$26.1K −$7.14/SF
NOI
$60.9K $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%
$1,218,560
Cap Rate 7%
$870,400
Cap Rate 9%
$676,978
Alternative Uses
Best Use
Multifamily LT 5
$870.4K
$761.6K – $1.02M
NOI $60,928 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$803.0K
$702.6K – $936.9K
NOI $56,211 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,803 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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 - Two-story income property with a mix of one- and two-bedroom residences.
Where is this quadplex located?
The property is located at 7610 Dickens Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,655 square feet; Two 2‑bedroom, 1‑bath units; Two 1‑bedroom, 1‑bath units
