Biscayne Park Boutique Apartment
11520 Northeast 6th Avenue Biscayne Park, FL 33161
11520 Northeast 6th Avenue, Biscayne Park, FL, 33161
$3,100,000
For Sale
$3,100,000
12-unit apartment building in the heart of Biscayne Park.
Property Size6,700 SF
Price / SF$462.69
Days on Market890
Property Features for 11520 Northeast 6th Avenue
General Information
- Standard status
- Active
- Size
- 6,700 SF
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1939
Listing Agency
Victoria Blintser Real Estate Group LLC
(786) 547-4222
Listed by
Victoria Blintser · License #0651867
(786) 547-4222
Source
Compass
Added: Feb 7, 2024 Checked: Jul 16 at 7:19 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Victoria Blintser Real Estate Group LLC
Investment Insights
Based on property information with market context.
This 12-unit boutique apartment building is situated in the heart of North Miami, specifically in the small city of Biscayne Park. The property is conveniently located just a few blocks from various shops, including Whole Foods, Publix, Home Depot, CVS, and Walgreens. Notably, Biscayne Park primarily consists of private houses, with only two 2-story apartment buildings, one of which is this property. The building comprises 12 studio apartments. Many of the units have been upgraded with new flooring, updated kitchens, bathrooms, and appliances. On-site amenities include a laundry room and a large parking area. This property presents an opportunity to acquire a stable, cash-flowing asset in a desirable location with the potential for rent increases. The investment offers immediate attractive rents with the possibility of significant rent growth in an exceptional location. The property size is 6700 square feet.
Key Highlights
- Stable cash‑flowing asset with potential for significant rent increases.
- Prime location in Biscayne Park, near Whole Foods, Publix, Home Depot, CVS, and Walgreens.
- Rare 12‑unit boutique building in a predominantly single‑family home area.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $196.2k | $29.28 |
| − Vacancy | −$8.8k | −$1.32 |
| EGI | $187.3k | $27.96 |
| − OpEx | −$84.3k | −$12.58 |
| NOI | $103.0k | $15.38 |
6,700 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $103,041 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.40M
$2.97M – $3.97M
NOI $237,943 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 12-unit apartment building in the heart of Biscayne Park.
Where is this apartment building located?
The property is located at 11520 Northeast 6th Avenue Biscayne Park, FL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Stable cash‑flowing asset with potential for significant rent increases.; Prime location in Biscayne Park, near Whole Foods, Publix, Home Depot, CVS, and Walgreens.; Rare 12‑unit boutique building in a predominantly single‑family home area.
