4-Unit Multifamily
New
For Sale
$1,600,000
7610 Dickens Avenue, Miami Beach, FL 33141
Two stories contain a mix of one- and two-bedroom apartments, each with one bathroom.
Property Size1,895 SF
Price / SF$437.76
Days on Market3
Property Features for 7610 Dickens Avenue
General Information
Standard status
Active
Size
1,895 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
3900
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$17,018
Building Details
Building Size
1,895 SF
Year Built
1951
Stories
2
Listing Agency:
Real Estate Sales Force
Listed By:
Karen Gomez · License #3343346
(305) 298-5991
Source:
Laerrealty
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 26 at 4:30AM
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 Real Estate Sales Force
Investment Insights
Based on property information with market context.
This two-story multifamily property contains 3,655 square feet and four apartments. Two units have two bedrooms and one bathroom apiece; the other two each offer one bedroom and one bathroom. The property was built in 1951 and is identified with zoning code 3900.
At 7610 Dickens Avenue in Miami Beach, the building is described as a few blocks from the beach, dining, and shopping. The location and apartment mix provide the defining physical and neighborhood details of the property.
At 7610 Dickens Avenue in Miami Beach, the building is described as a few blocks from the beach, dining, and shopping. The location and apartment mix provide the defining physical and neighborhood details of the property.
Key Highlights
- Four apartments: two with 2 bedrooms and 1 bathroom each, plus two with 1 bedroom and 1 bathroom each
- Two‑story building with 3,655 square feet
- Built in 1951
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
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Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two stories contain a mix of one- and two-bedroom apartments, each with one bathroom.
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 apartments: two with 2 bedrooms and 1 bathroom each, plus two with 1 bedroom and 1 bathroom each; Two‑story building with 3,655 square feet; Built in 1951
