5-Unit Apartment
New
For Sale
$1,350,000
Miami, FL 33127, Miami, FL 33127
Residential Income, Miami, FL
Property Size3,575 SF
Lot Size0.15 Acres
Price / SF$377.62
Days on Market4
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Bedrooms
8
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 8, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 7, Bathroom 1, Bedroom 3, Bathroom 5
Parking
10
Subdivision
EDEN PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-26-029-0200
Size
3,575 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
26 53 41 EDEN PARK PB 7-29 LOT 22 LESS S5FT TO CITY LOT SIZE 6650 SQUARE FEET OR 16240-4682 0294 1 COC 25209-1975 12 2006 1
Tax Annual Amount
12053
Legal Description
26 53 41 EDEN PARK PB 7-29 LOT 22 LESS S5FT TO CITY LOT SIZE 6650 SQUARE FEET OR 16240-4682 0294 1 COC 25209-1975 12 2006 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1937
Floors in Building
2
Flooring type
Tile
Architectural style
Other
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Juliana Yepes LLC · License #3160991
(305) 896-8358
Added: Aug 26
Last Checked: Aug 29 at 2:06AM
MLS# A12077881
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 5-unit apartment property contains four two-bedroom, one-bath apartments and a detached, permitted two-bedroom, two-bath residence. The improvements total 3,575 square feet on a 6,534-square-foot T4-R zoned lot. Each unit has its own electric meter, and one unit is currently available. Interior features include tile flooring, wall-furnace heating, and wall or window unit cooling. The property was built in 1937 and is served by public sewer, with cable available.
The property is located in Miami’s Allapattah area at 767 NW 35th Street. Access to Wynwood, the Health District, Downtown Miami, Miami International Airport, I-95, SR-836, and the Allapattah Metrorail station places employment, medical, cultural, and transportation destinations within reach. The configuration combines multiple apartment units with a separate residential improvement on a relatively compact urban parcel.
The property is located in Miami’s Allapattah area at 767 NW 35th Street. Access to Wynwood, the Health District, Downtown Miami, Miami International Airport, I-95, SR-836, and the Allapattah Metrorail station places employment, medical, cultural, and transportation destinations within reach. The configuration combines multiple apartment units with a separate residential improvement on a relatively compact urban parcel.
Key Highlights
- 5‑unit configuration with four 2‑bedroom/1‑bath units and one detached permitted 2‑bedroom/2‑bath residence
- 3,575 square feet of building area on a 6,534‑square‑foot T4‑R zoned lot
- Five separate electric meters; one unit is currently available
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
$66,042
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
4.89%
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%
$1,320,840
$1.3M
Cap Rate 7%
$943,457
$943.5K
Cap Rate 9%
$733,800
$733.8K
Market Conditions
NOI Build-Up for 3,575 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
$128.7K $36.00/SF
− Vacancy
−$8.6K −$2.41/SF
EGI
$120.1K $33.59/SF
− OpEx
−$54.0K −$15.11/SF
NOI
$66.0K $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%
$1,320,840
Cap Rate 7%
$943,457
Cap Rate 9%
$733,800
Alternative Uses
Best Use
Apartment 5plus
$943.5K
$825.5K – $1.10M
NOI $66,042 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.41M
$2.11M – $2.82M
NOI $168,920 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Four two-bedroom units accompany a detached two-bedroom residence with separate electric metering.
Where is this apartment building located?
The property is located at Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 5‑unit configuration with four 2‑bedroom/1‑bath units and one detached permitted 2‑bedroom/2‑bath residence; 3,575 square feet of building area on a 6,534‑square‑foot T4‑R zoned lot; Five separate electric meters; one unit is currently available
