Renovated Fourplex in
For Sale
Contact for pricing
8321 NE Miami Ct, Miami, FL 33138
Turnkey fourplex with strong cash flow potential in Miami.
Property Size2,091 SF
Price / SF$621.71
Days on Market697
Property Features for 8321 NE Miami Ct
General Information
Standard status
Active
Size
2,091 SF
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
6101
Building Details
Year Built
2020
Listing Agency:
The Real Estate Lab, Inc.
Listed By:
Abraham Elbaz · License #3484615
(919) 931-7079
Source:
Crexi
Added: Nov 15, 2024
Changed: Oct 10
Last Checked: Oct 12 at 4:57PM
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 The Real Estate Lab, Inc.
Investment Insights
Based on property information with market context.
This is a fully renovated fourplex located in Miami. The property features three 1-bedroom, 1-bathroom units and one 2-bedroom, 1-bathroom unit. The building has a new roof, impact windows, updated plumbing and electrical systems. The kitchens, bathrooms, and flooring have been modernized. All renovations were completed with permits. Each unit is equipped with separate electric meters; the owner is responsible for water. A shared laundry area is available. The property is located in a growing area of Miami and offers strong cash flow potential.
Key Highlights
- Turnkey and Income‑Producing Fourplex: Immediate cash flow with a fully renovated property.
- Fully Renovated with Permits: Ensures quality and compliance with new roof, impact windows, updated plumbing & electrical, modern kitchens, baths, and flooring.
- Located in Miami's Fastest‑Growing Area: High rental demand and potential for appreciation.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,936
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,720
$838.7K
Cap Rate 7%
$599,086
$599.1K
Cap Rate 9%
$465,956
$466.0K
Market Conditions
NOI Build-Up for 2,091 SF
Gross rent
$64.0K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$59.9K $28.65/SF
− OpEx
−$18.0K −$8.60/SF
NOI
$41.9K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,720
Cap Rate 7%
$599,086
Cap Rate 9%
$465,956
Alternative Uses
Best Use
Multifamily LT 5
$599.1K
$524.2K – $698.9K
NOI $41,936 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$551.8K
$482.9K – $643.8K
NOI $38,628 @ 7.0% cap · market cap 2.97%
Theoretical Best
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $98,801 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Turnkey fourplex with strong cash flow potential in Miami.
Where is this quadplex located?
The property is located at 8321 NE Miami Ct Miami, 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: Turnkey and Income‑Producing Fourplex: Immediate cash flow with a fully renovated property.; Fully Renovated with Permits: Ensures quality and compliance with new roof, impact windows, updated plumbing & electrical, modern kitchens, baths, and flooring.; Located in Miami's Fastest‑Growing Area: High rental demand and potential for appreciation.
