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205 NW 159th St
Miami, FL 33169
2024-Built Section 8 Fourplex | 7.13% Cap · Multifamily Property For Sale
·
4 Units
Investment Highlights
- Minutes from I-95, the Florida Turnpike, Aventura, and Hard Rock Stadium
- 100% leased to Section 8; rent paid directly by the housing authority
- Clear path to an 7.49% cap: raise two rents to approved levels
- 6,756 SF building on a 16,489 SF corner lot with four 4-bed/3-bath units
- $180,888 in actual annual income at a 7.13% cap rate in place
- 2024 concrete-block build, hurricane-resistant, with builder warranty still in place
Executive Summary
2024-built Section 8 fourplex in Miami's Biscayne Gardens — four large 4-bed/3-bath units, 100% leased with rent paid directly by the housing authority for steady, government-backed income of $180,888 per year ($15,074/month) at a 7.13% cap rate in place.
This is a turnkey, income-producing multifamily investment ideal for buyers seeking stable, government-backed cash flow with built-in upside. One simple move raises the return to an 7.49% cap: bring two units up to the Section 8 rents the other two already collect.
The property totals 6,756 SF across two floors on a 16,489 SF corner lot, zoned RU-3M. Concrete-block construction built to current Florida Building Code delivers low maintenance and strong hurricane resistance, and the builder warranty is still in place. Each unit is separately metered, so tenants pay their own utilities and owner expenses stay low. Priced at $2,190,000, or $547,500 per unit.
Located minutes from I-95, the Florida Turnpike, Aventura, and Hard Rock Stadium, the property sits in a high-demand North Miami-Dade rental corridor with a Section 8 voucher waitlist of more than 50,000 households.
This is a turnkey, income-producing multifamily investment ideal for buyers seeking stable, government-backed cash flow with built-in upside. One simple move raises the return to an 7.49% cap: bring two units up to the Section 8 rents the other two already collect.
The property totals 6,756 SF across two floors on a 16,489 SF corner lot, zoned RU-3M. Concrete-block construction built to current Florida Building Code delivers low maintenance and strong hurricane resistance, and the builder warranty is still in place. Each unit is separately metered, so tenants pay their own utilities and owner expenses stay low. Priced at $2,190,000, or $547,500 per unit.
Located minutes from I-95, the Florida Turnpike, Aventura, and Hard Rock Stadium, the property sits in a high-demand North Miami-Dade rental corridor with a Section 8 voucher waitlist of more than 50,000 households.
Property Facts
| Price Per Unit | $547,500 | Lot Size | 0.38 AC |
| Sale Type | Investment | Building Size | 6,756 SF |
| Cap Rate | 7.13% | No. Stories | 2 |
| No. Units | 4 | Year Built | 2024 |
| Property Type | Multifamily | ||
| Zoning | RU-3M | ||
| Price Per Unit | $547,500 |
| Sale Type | Investment |
| Cap Rate | 7.13% |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.38 AC |
| Building Size | 6,756 SF |
| No. Stories | 2 |
| Year Built | 2024 |
| Zoning | RU-3M |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3 | 4 | - | - |
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