10-Unit Renovated Apartment
For Sale
$4,100,000
1000 7th Street, Miami Beach, FL 33139
Residential Income, Miami Beach, FL
Property Size7,868 SF
Lot Size0.17 Acres
Price / SF$521.10
Days on Market76
Property Features for 1000 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1
Parking
4
Subdivision
OCEAN BEACH ADDN NO 3
Lot features
< 1/4 Acre
Standard status
Active
APN
02-42-03-009-7641
Size
7,868 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OCEAN BEACH ADDN NO 3 PB 2-81 LOT 1 BLK 97 LOT SIZE 50.000 X 150 OR 16023-1241 0793 1 COC 26210-4069 01 2008 1
Tax Annual Amount
52096
Legal Description
OCEAN BEACH ADDN NO 3 PB 2-81 LOT 1 BLK 97 LOT SIZE 50.000 X 150 OR 16023-1241 0793 1 COC 26210-4069 01 2008 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front
1
Amenities
washer & dryer in all units
BBQ patio
Building Details
Year built
1951
Floors in Building
2
Flooring type
Marble, Tile
Building materials
CBSConcreteBlockStructure, Block
Roof type
Flat
Architectural style
Other
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(305) 662-7325
Listed By:
Ricky Kallabat PA · License #3254287
(305) 747-5117
Added: Jul 18
Changed: Oct 1
Last Checked: Oct 1 at 3:06PM
MLS# A11975535
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 two-story apartment building contains 10 units: seven two-bedroom apartments and three one-bedroom apartments. Renovations included new air conditioning, water heaters, plumbing, electrical panels, and a roof, along with updated kitchens featuring quartz counters, stainless steel appliances, and breakfast bars. Each unit has a washer and dryer, and the property also includes four private parking spaces and a barbecue patio.
The 7,500-square-foot lot is at 1000 7th Street in Miami Beach. A 40-year recertification was completed in 2022.
The 7,500-square-foot lot is at 1000 7th Street in Miami Beach. A 40-year recertification was completed in 2022.
Key Highlights
- 10 apartments: seven 2‑bedroom units and three 1‑bedroom units
- Two‑story building on a 7,500‑square‑foot lot
- Renovations include new AC, water heaters, plumbing, electrical panels, and roof
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
$121,004
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
2.95%
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%
$2,420,080
$2.4M
Cap Rate 7%
$1,728,629
$1.7M
Cap Rate 9%
$1,344,489
$1.3M
Market Conditions
NOI Build-Up for 7,868 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
$230.4K $29.28/SF
− Vacancy
−$10.4K −$1.32/SF
EGI
$220.0K $27.96/SF
− OpEx
−$99.0K −$12.58/SF
NOI
$121.0K $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%
$2,420,080
Cap Rate 7%
$1,728,629
Cap Rate 9%
$1,344,489
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $121,004 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.49M – $4.66M
NOI $279,424 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
5,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - The two-story property offers a mix of one- and two-bedroom apartments, private parking, and a shared patio.
Where is this apartment building located?
The property is located at 1000 7th Street Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 10 apartments: seven 2‑bedroom units and three 1‑bedroom units; Two‑story building on a 7,500‑square‑foot lot; Renovations include new AC, water heaters, plumbing, electrical panels, and roof
