T4-R Zoned Multifamily Income
For Sale
Contact for pricing
840 SW 13th Ave, Miami, FL 33135
Five-unit multifamily property with a 2-story main house and four apartments, including active short-term rentals.
Property Size4,097 SF
Price / SF$634.61
Days on Market56
Property Features for 840 SW 13th Ave
General Information
Standard status
Active
Size
4,097 SF
Property subtype
Multifamily
Zoning
T4-R
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Year Built
1921
Stories
2
Tenancy
Multi
Listing Agency:
One Stop Shop Realty LLC
(305) 783-7911
Listed By:
Wendy Alvarez Sanchez · License #3635819
Source:
Crexi
Added: Jun 13
Changed: Jul 10
Last Checked: Aug 6 at 4:03AM
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 One Stop Shop Realty LLC
Investment Insights
Based on property information with market context.
This for-sale income property is a beautifully maintained multifamily asset built in 1901. The configuration includes a large two-story main house with 5 bedrooms and 2 bathrooms, plus four additional apartments for a total of five income-producing units. The main house and one apartment currently operate as Airbnb units with active short-term rental history. The remaining apartments are rented month-to-month, providing ongoing monthly income. This property is T4-R zoned, with redevelopment potential noted as part of the offering.
Located in Little Havana on Cuban Memorial Boulevard, the building is described as being just steps from Calle 8. Mature coconut trees and historic Miami charm are referenced as contributing to the property’s character. The remarks also cite convenient access to nearby destinations including Jackson Medical District, Downtown Miami, Brickell, Coconut Grove, Coral Gables, Key Biscayne, the Design District, and Miami Beach.
The tenant mix and current operating setup may appeal to investors, developers, or end users seeking a maintained multifamily building that already supports both short-term and month-to-month occupancy. The listing notes that no financing is available and cash offers only are requested. Occupants should not be disturbed.
Located in Little Havana on Cuban Memorial Boulevard, the building is described as being just steps from Calle 8. Mature coconut trees and historic Miami charm are referenced as contributing to the property’s character. The remarks also cite convenient access to nearby destinations including Jackson Medical District, Downtown Miami, Brickell, Coconut Grove, Coral Gables, Key Biscayne, the Design District, and Miami Beach.
The tenant mix and current operating setup may appeal to investors, developers, or end users seeking a maintained multifamily building that already supports both short-term and month-to-month occupancy. The listing notes that no financing is available and cash offers only are requested. Occupants should not be disturbed.
Key Highlights
- Five‑unit multifamily property: 2‑story main house plus 4 additional apartments (5 income‑producing units total)
- Main house is 5BD/2BA and plus 4 additional apartments—offering a mix of living and income‑producing units
- Current short‑term rental use: main house and 1 apartment operate as Airbnb units with active short‑term rental history
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
$75,686
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
2.91%
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%
$1,513,720
$1.5M
Cap Rate 7%
$1,081,229
$1.1M
Cap Rate 9%
$840,956
$841.0K
Market Conditions
NOI Build-Up for 4,097 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
$147.5K $36.00/SF
− Vacancy
−$9.9K −$2.41/SF
EGI
$137.6K $33.59/SF
− OpEx
−$61.9K −$15.11/SF
NOI
$75.7K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,513,720
Cap Rate 7%
$1,081,229
Cap Rate 9%
$840,956
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$946.1K – $1.26M
NOI $75,686 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.77M
$2.42M – $3.23M
NOI $193,585 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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?
Apartment building - Five-unit multifamily property with a 2-story main house and four apartments, including active short-term rentals.
Where is this apartment building located?
The property is located at 840 SW 13th Ave Miami, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Five‑unit multifamily property: 2‑story main house plus 4 additional apartments (5 income‑producing units total); Main house is 5BD/2BA and plus 4 additional apartments—offering a mix of living and income‑producing units; Current short‑term rental use: main house and 1 apartment operate as Airbnb units with active short‑term rental history
