Renovated 6-Unit Apartment
For Sale
$1,574,000
7630 Byron Ave, Miami Beach, FL 33141
MULTI_FAMILY - Other - Miami Beach, FL
Property Size3,400 SF
Price / SF$462.94
Days on Market21
Property Features for 7630 Byron Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Subdivision
ALTOS DEL MAR NO 3
Lot features
< 1/4 Acre
Standard status
Active
APN
02-32-02-007-1850
Size
3,400 SF
Taxes and HOA fees
Tax Year
2023
Tax Description
ALTOS DEL MAR NO 3 PB 8-41 LOT 11 BLK 22 LOT SIZE 50.000 X 113 OR 18996-3705 01 2000 5
Tax Annual Amount
17050
Legal Description
ALTOS DEL MAR NO 3 PB 8-41 LOT 11 BLK 22 LOT SIZE 50.000 X 113 OR 18996-3705 01 2000 5
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1950
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Ilan Allen Ziv · License #3601056
(305) 900-8292
Added: Jul 30
Changed: Aug 17
Last Checked: Aug 19 at 4:06AM
MLS# A12018339
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 3,400-square-foot apartment property contains six residences: four one-bedroom, one-bath units and two studios. The building was constructed in 1950 and has undergone renovations, with block construction, laminate flooring, shingle roofing, and a combination of wall furnace and window or wall/window unit cooling systems. Public sewer serves the property.
The asset is located at 7630 Byron Ave in Miami Beach, near the beach, Collins Avenue, dining, shopping, and entertainment. Its residential configuration provides a compact multifamily layout with varied unit types within a single building.
The asset is located at 7630 Byron Ave in Miami Beach, near the beach, Collins Avenue, dining, shopping, and entertainment. Its residential configuration provides a compact multifamily layout with varied unit types within a single building.
Key Highlights
- Six‑unit configuration with four one‑bedroom, one‑bath residences and two studios
- 3,400 square feet of apartment space
- Renovated property with block construction and laminate flooring
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
$52,290
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
3.32%
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%
$1,045,800
$1.0M
Cap Rate 7%
$747,000
$747.0K
Cap Rate 9%
$581,000
$581.0K
Market Conditions
NOI Build-Up for 3,400 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
$99.6K $29.28/SF
− Vacancy
−$4.5K −$1.32/SF
EGI
$95.1K $27.96/SF
− OpEx
−$42.8K −$12.58/SF
NOI
$52.3K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /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%
$1,045,800
Cap Rate 7%
$747,000
Cap Rate 9%
$581,000
Alternative Uses
Best Use
Apartment 5plus
$747.0K
$653.6K – $871.5K
NOI $52,290 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,747 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property offering a mix of one-bedroom and studio residences near Miami Beach amenities.
Where is this apartment building located?
The property is located at 7630 Byron Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,574,000.
What are key features of this property?
This property features: Six‑unit configuration with four one‑bedroom, one‑bath residences and two studios; 3,400 square feet of apartment space; Renovated property with block construction and laminate flooring
