Biscayne Point Fourplex on
8031 HAWTHORNE AVE Miami Beach, FL 33141
8031 HAWTHORNE AVE, Miami Beach, FL, 33141
Contact for pricing
For Sale
Contact for pricing
Pending
Four-unit multifamily property with income and redevelopment potential.
Property Size4,429 SF
Lot Size0.14 Acres
Days on Market79
Property Features for 8031 HAWTHORNE AVE
General Information
- Standard status
- Pending
- Size
- 4,429 SF
- Lot size
- 0.14 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1947
Listing agency
KW Commercial Boca Raton East
Listed by
Stephen Molinari · License #3530706
Source
Crexi
Added: May 4 Updated: Jul 10 at 1:33PM Checked: Jul 21 at 5:13AM
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 KW Commercial Boca Raton East
Investment Insights
Based on property information with market context.
This multifamily property features four units, each with two bedrooms and one bathroom. All units are currently rented for $2,300 per month, generating an annual gross income of $110,400. The property is located in Biscayne Point on a 6,215 square foot corner lot. The property passed its 40-year recertification in 2019, and the elastomeric roof was redone in 2025. One unit is equipped with central air conditioning, while the remaining three units have wall units. There is a detached garage on the property currently used for storage, presenting an opportunity to generate additional income, potentially around $1,500 per month, if rented. Value-add potential exists through interior upgrades, which could potentially increase rents to approximately $2,600 per unit. The zoning allows for redevelopment up to five stories.
Key Highlights
- Strong Income: Property generates $110,400 annual gross income from four rented units.
- Upside Potential: Opportunity to increase rents to ~$2,600/unit through interior upgrades.
- Redevelopment Potential: Zoning allows for redevelopment up to 5 stories.
Local 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 | $111.6k | $25.20 |
| − Vacancy | −$6.1k | −$1.39 |
| EGI | $105.5k | $23.81 |
| − OpEx | −$31.6k | −$7.14 |
| NOI | $73.8k | $16.67 |
4,429 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.9K – $1.23M
NOI $73,831 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$973.1K
$851.4K – $1.14M
NOI $68,115 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$2.25M
$1.97M – $2.62M
NOI $157,291 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit multifamily property with income and redevelopment potential.
Where is this quadplex located?
The property is located at 8031 HAWTHORNE AVE Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Strong Income: Property generates $110,400 annual gross income from four rented units.; Upside Potential: Opportunity to increase rents to ~$2,600/unit through interior upgrades.; Redevelopment Potential: Zoning allows for redevelopment up to 5 stories.
