Six-Unit Apartment
For Sale
$1,149,900
1761 Ali Baba Avenue, Opa Locka, FL 33054
Commercial Sale, Opa-Locka, FL
Property Size3,980 SF
Lot Size0.11 Acres
Price / SF$288.92
Days on Market29
Property Features for 1761 Ali Baba Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
0100
Parking
6
Security features
Security
Fencing
Fenced, Gate
Subdivision
2210
Standard status
Active
APN
0821220031890
Size
3,980 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
22 52 41 MAGNOLIA SUB PB 40-80 LOTS 13 & 14 BLK 11 LOT SIZE 50.000 X 96 OR 20583-2563 0802 1 COC 22842-2788 11 2004 1
Tax Annual Amount
19112
Legal Description
22 52 41 MAGNOLIA SUB PB 40-80 LOTS 13 & 14 BLK 11 LOT SIZE 50.000 X 96 OR 20583-2563 0802 1 COC 22842-2788 11 2004 1
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
1
Flooring type
Tile, Laminate, Wood
Building materials
Block, Stucco
Roof type
Built-Up
Listing Agency:
VantaSure Realty LLC
(954) 461-5734
Listed By:
Desare A Kohn-Laski PA · License #3187020
(954) 529-9203
Added: Aug 13
Changed: Sep 10
Last Checked: Sep 10 at 2:06PM
MLS# B26063739
Copyright © 2026 BeachesMLS. 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 3,980-square-foot apartment property contains six two-bedroom, one-bathroom units arranged across two levels, with three residences upstairs and three downstairs. Built in 1958, the building features block and stucco construction, tile, laminate, and wood flooring, radiant heating, and window or wall/window cooling. Each unit has individual water and electric meters, while common-area electrical service is separately handled.
The property at 1761 Ali Baba Avenue in Opa-Locka occupies 0.11 acres and uses public water and public sewer. Improvements include a built-up roof replaced in late 2021, a fully updated electrical system with new meters and relocated panels, a wired exit sign, and eight connected security cameras. The city granted the building’s 40-year certification covering the structure, exterior, electrical system, roof, and overall conditions. A front fence with gate has also been added, and the interiors have been freshly painted.
The property at 1761 Ali Baba Avenue in Opa-Locka occupies 0.11 acres and uses public water and public sewer. Improvements include a built-up roof replaced in late 2021, a fully updated electrical system with new meters and relocated panels, a wired exit sign, and eight connected security cameras. The city granted the building’s 40-year certification covering the structure, exterior, electrical system, roof, and overall conditions. A front fence with gate has also been added, and the interiors have been freshly painted.
Key Highlights
- Six units, each with 2 bedrooms and 1 bathroom
- 3,980 SF apartment building on a 0.11‑acre lot
- Three upstairs units and three downstairs units
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
$73,524
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
6.39%
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%
$1,470,480
$1.5M
Cap Rate 7%
$1,050,343
$1.1M
Cap Rate 9%
$816,933
$816.9K
Market Conditions
NOI Build-Up for 3,980 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
$143.3K $36.00/SF
− Vacancy
−$9.6K −$2.41/SF
EGI
$133.7K $33.59/SF
− OpEx
−$60.2K −$15.11/SF
NOI
$73.5K $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%
$1,470,480
Cap Rate 7%
$1,050,343
Cap Rate 9%
$816,933
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$919.1K – $1.23M
NOI $73,524 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.69M
$2.35M – $3.13M
NOI $188,057 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story multifamily property with separately metered utilities, recent electrical upgrades, and a 2021 roof replacement.
Where is this apartment building located?
The property is located at 1761 Ali Baba Avenue Opa Locka, FL.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: Six units, each with 2 bedrooms and 1 bathroom; 3,980 SF apartment building on a 0.11‑acre lot; Three upstairs units and three downstairs units
