Four-Unit Multifamily
For Sale
$1,300,000
7821 Byron Ave, Miami Beach, FL 33141
MULTI_FAMILY - Miami Beach, FL
Property Size3,382 SF
Lot Size0.13 Acres
Price / SF$384.39
Days on Market38
Property Features for 7821 Byron Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
3900
Subdivision
32
Standard status
Active
APN
02-32-02-007-1120
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
ALTOS DEL MAR NO 3 PB 8-41 LOT 4 BLK 16 LOT SIZE 50.000 X 113 OR 16053-2536 0993 4
Legal Description
ALTOS DEL MAR NO 3 PB 8-41 LOT 4 BLK 16 LOT SIZE 50.000 X 113 OR 16053-2536 0993 4
Building Details
Year built
1952
Number of units
4
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Marilina Apfelbaum · License #0662372
(786) 287-3633
Added: Jul 6
Last Checked: Aug 12 at 8:06AM
MLS# A12043851
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 four-unit multifamily property features a total building area of 3,382 SF situated on a 5,650 SF lot. The asset is being offered for sale with tenants in place. It also offers the type of flexibility that can support future renovation, repositioning, or redevelopment plans, depending on a buyer’s objectives.
The property is located in the heart of North Beach, within the Altos Del Mar / North Shore submarket. The site is described as being near Collins Avenue, the beach, and a mix of restaurants and shops, with the surrounding area noted for neighborhood redevelopment.
For buyers seeking a Miami Beach multifamily asset, this configuration provides an immediate income base through the existing tenants while allowing for potential value creation through updates and strategic property changes. Its small-lot setup and four-unit layout may appeal to investors or owner-operators looking to manage a compact residential income asset in a retail and lifestyle-oriented part of the city. Please see the offering materials for additional details.
The property is located in the heart of North Beach, within the Altos Del Mar / North Shore submarket. The site is described as being near Collins Avenue, the beach, and a mix of restaurants and shops, with the surrounding area noted for neighborhood redevelopment.
For buyers seeking a Miami Beach multifamily asset, this configuration provides an immediate income base through the existing tenants while allowing for potential value creation through updates and strategic property changes. Its small-lot setup and four-unit layout may appeal to investors or owner-operators looking to manage a compact residential income asset in a retail and lifestyle-oriented part of the city. Please see the offering materials for additional details.
Key Highlights
- 4‑unit multifamily property in North Beach, Miami Beach
- Built in 1952
- 3,382 SF building area on a 5,650 SF lot
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
$56,377
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
4.34%
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%
$1,127,540
$1.1M
Cap Rate 7%
$805,386
$805.4K
Cap Rate 9%
$626,411
$626.4K
Market Conditions
NOI Build-Up for 3,382 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
$85.2K $25.20/SF
− Vacancy
−$4.7K −$1.39/SF
EGI
$80.5K $23.81/SF
− OpEx
−$24.2K −$7.14/SF
NOI
$56.4K $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%
$1,127,540
Cap Rate 7%
$805,386
Cap Rate 9%
$626,411
Alternative Uses
Best Use
Multifamily LT 5
$805.4K
$704.7K – $939.6K
NOI $56,377 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$743.0K
$650.2K – $866.9K
NOI $52,013 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,108 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,558
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 - Four-unit North Beach income property with tenants in place and room for renovation, repositioning, or redevelopment.
Where is this quadplex located?
The property is located at 7821 Byron Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4‑unit multifamily property in North Beach, Miami Beach; Built in 1952; 3,382 SF building area on a 5,650 SF lot
