Two-Story 10-Unit Apartment
For Sale
$4,000,000
11970 NE 19th Dr, North Miami, FL 33181
A 10-unit multifamily building with exterior access and on-site surface parking, built in 1964.
Property Size11,094 SF
Lot Size0.32 Acres
Price / SF$360.56
Days on Market59
Property Features for 11970 NE 19th Dr
General Information
Standard status
Active
Size
11,094 SF
Lot size
0.32 Acres
Property subtype
Multi-Family
Zoning
R-5
Additional Details
Multifamily Units
10
Building Details
Year Built
1964
Stories
2
Listing Agency:
Beachfront Realty Inc
(786) 287-3633
Listed By:
Marilina Apfelbaum · License #0662372
(786) 287-3633
Source:
Xome
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 5 at 11:15AM
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 Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This for-sale multifamily property is a 10-unit, two-story apartment building built in 1964. Per the tax roll, it includes approximately 11,094 square feet of building area and sits on a 13,750 square-foot lot. The building provides exterior access and includes on-site surface parking, supporting everyday tenant arrivals and departures.
Located in the Sans Souci Estates subdivision in North Miami, the property is described as being near Biscayne Blvd, along with shopping, dining, public transportation, and major roadways. The listing information places the asset within an established residential context with convenient access to surrounding services and connections.
The property is zoned R-5 multifamily residential. As presented, it may suit investors or operators seeking a small multifamily asset with exterior access and surface parking in a North Miami location. The seller notes that buyers must independently verify all information, including zoning, unit count, rents, expenses, permits, parking, building size, lot size, roof, physical condition, and future use.
Located in the Sans Souci Estates subdivision in North Miami, the property is described as being near Biscayne Blvd, along with shopping, dining, public transportation, and major roadways. The listing information places the asset within an established residential context with convenient access to surrounding services and connections.
The property is zoned R-5 multifamily residential. As presented, it may suit investors or operators seeking a small multifamily asset with exterior access and surface parking in a North Miami location. The seller notes that buyers must independently verify all information, including zoning, unit count, rents, expenses, permits, parking, building size, lot size, roof, physical condition, and future use.
Key Highlights
- 10‑unit multifamily apartment building in North Miami
- Built in 1964; two‑story building with exterior access
- Approximately 11,094 SF building area on a 13,750 SF lot (per tax roll)
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 | $324.8k | $29.28 |
| − Vacancy | −$14.6k | −$1.32 |
| EGI | $310.2k | $27.96 |
| − OpEx | −$139.6k | −$12.58 |
| NOI | $170.6k | $15.38 |
11,094 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.13M – $2.84M
NOI $170,618 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.63M
$4.92M – $6.57M
NOI $393,992 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
2,649
Businesses Nearby
Explore this area
Business Placement
Demographics for 33181, FL
20,955
Population
9,401
Households
2.2
Avg Household Size
39
Median Age
41%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$56,473
Median Household Income
$40,233
Median Earnings
$1,665
Median Rent
$315,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - A 10-unit multifamily building with exterior access and on-site surface parking, built in 1964.
Where is this apartment building located?
The property is located at 11970 NE 19th Dr North Miami, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 10‑unit multifamily apartment building in North Miami; Built in 1964; two‑story building with exterior access; Approximately 11,094 SF building area on a 13,750 SF lot (per tax roll)
