Apartment Buildings with 26
New
For Sale
$5,600,000
953 SW 4th St, Miami, FL 33130
Two apartment buildings offer one-bedroom residences, updated electrical systems, laundry facilities, and select private balconies.
Property Size16,370 SF
Lot Size0.35 Acres
Days on Market4
Property Features for 953 SW 4th St
General Information
Standard status
Active
Size
16,370 SF
Lot size
0.35 Acres
Property subtype
Multifamily
Zoning
T4-R
Occupancy
95%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
26 x 1BR/1BA
Multifamily Units
26
Amenities
laundry room
balconies
mini split air-conditioning
Well located Little Havana Submarket
Very strong rental market
Updated Electric
Mini split air conditioning
Upside in rental income
Impact windows
Double lot with room for parking
Building Details
Building Size
16,370 SF
Buildings
2
Units
26
Listing Agency:
Fort Lauderdale Office
(954) 245-3444
Listed By:
Felipe Echarte · License #License(s): FL: SL696115
(954) 245-3444
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:40AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
The property consists of 26 residential units across two apartment buildings. The principal structure at 953 SW 4th Street contains 24 units in a three-story building, while 959 SW 4th Street has two units in a two-story building. Each residence is configured with one bedroom and one bathroom, averaging 630 SF. Improvements at 953 include mini-split air-conditioning, impact windows, new stucco, and updated electrical service. The property also includes a laundry room, and select units have balconies.
The buildings occupy a .35-acre lot in Little Havana on SW 4th Street between SW 8th and 12th Avenues. The surrounding area includes low- and medium-density apartment buildings and single-family homes. Tenants pay electric service, while ownership covers water, sewer, and trash removal. The 959 SW 4th Street parcel includes a vacant duplex and additional lot area that may be renovated or used for a new building or parking lot, as described in the property information.
The buildings occupy a .35-acre lot in Little Havana on SW 4th Street between SW 8th and 12th Avenues. The surrounding area includes low- and medium-density apartment buildings and single-family homes. Tenants pay electric service, while ownership covers water, sewer, and trash removal. The 959 SW 4th Street parcel includes a vacant duplex and additional lot area that may be renovated or used for a new building or parking lot, as described in the property information.
Key Highlights
- 26 residential units across two apartment buildings
- Unit mix consists entirely of one‑bedroom, one‑bathroom residences averaging 630 SF
- 953 SW 4th Street has 24 units in a 3 story building; 959 has two units in a two‑story building
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
$302,410
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
5.40%
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%
$6,048,200
$6.0M
Cap Rate 7%
$4,320,143
$4.3M
Cap Rate 9%
$3,360,111
$3.4M
Market Conditions
NOI Build-Up for 16,370 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
$589.3K $36.00/SF
− Vacancy
−$39.5K −$2.41/SF
EGI
$549.8K $33.59/SF
− OpEx
−$247.4K −$15.11/SF
NOI
$302.4K $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%
$6,048,200
Cap Rate 7%
$4,320,143
Cap Rate 9%
$3,360,111
Alternative Uses
Best Use
Apartment 5plus
$4.32M
$3.78M – $5.04M
NOI $302,410 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.05M
$9.67M – $12.89M
NOI $773,490 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,822
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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 - Two apartment buildings offer one-bedroom residences, updated electrical systems, laundry facilities, and select private balconies.
Where is this apartment building located?
The property is located at 953 SW 4th St Miami, FL.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 26 residential units across two apartment buildings; Unit mix consists entirely of one‑bedroom, one‑bathroom residences averaging 630 SF; 953 SW 4th Street has 24 units in a 3 story building; 959 has two units in a two‑story building
