Listed by Fausto Commercial
$2,190,000
New construction (2024) Biscayne Gardens Fourplex
Details
Property Type Multifamily
Square Footage 6,756
Units 4
Cap Rate 7.13%
NOI $156,114
Occupancy 100%
Pro-Forma Cap Rate 7.49%
Pro-Forma NOI $164,046
Price per SqFt $324
Year Built 2024
Buildings 1
Acreage 16489.000
Zoning RU-3M
Parking Spaces 8 spaces
Parking per 1,000 SqFt 1.18
Investment Type Value Add
100% Leased, 7.13% Cap with Upside to 7.49%
Marketing description
A 2024-built fourplex in North Miami-Dade, 100% leased to Section 8 tenants and producing $180,888 a year in steady, government-backed rent. Four large 4-bed / 3-bath units totaling 6,756 square feet on a 16,489-square-foot corner lot, built with concrete block, still under builder warranty, and separately metered so tenants pay their own utilities.
Priced at $2,190,000 ($547,500 per unit) for a 7.13% cap today. One simple moves take it to an 7.49% cap: raise two units to the Section 8 rents the other two already earn.
Minutes from I-95, the Florida Turnpike, Aventura, and Hard Rock Stadium, in a market with a voucher waitlist of more than 50,000 households.
Investment highlights
- Built 2024: four 4-bed / 3-bath units
- 100% leased to Section 8; rent paid directly by the housing authority
- $180,888 actual yearly rent; 7.13% cap in place
- Upside to an 7.49% cap: raise two rents
- 6,756 SF building on a 16,489 SF corner lot
- Concrete-block, hurricane-resistant; builder warranty in place
- Separately metered; tenants pay their own utilities
- Strong voucher demand; 50,000+ household waitlist nearby
Listing Contacts
Listed by Fausto Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$156,114.00
$13,009.50/mo
Valuation Metrics
0
DSCR
7.13%
Cap Rate
7.13%
ROI
Map
Zoning
RU-3M ResidentialMulti FamilyMinimum Apartment House
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View all 25 uses Last updated May 13, 2026 For deeper zoning details, reports are available at Zoneomics
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