10-Unit Apartment
For Sale
$3,700,000
11970 NE 19th Dr, North Miami, FL 33181
Two-story multifamily property with exterior access and on-site surface parking in North Miami.
Property Size11,094 SF
Lot Size0.32 Acres
Price / SF$333.51
Days on Market150
Property Features for 11970 NE 19th Dr
General Information
Standard status
Active
Size
11,094 SF
Lot size
0.32 Acres
Property subtype
Income/MultiFamily
Zoning
R-5
Site & Location
Neighborhood
Biscayne South
Public Transit
Yes
Additional Details
Multifamily Units
10
Building Details
Building Size
11,094 SF
Year Built
1964
Buildings
1
Stories
2
Listing Agency:
Beachfront Realty Inc
Listed By:
Marilina Apfelbaum · License #0662372
(210) 789-2037
Source:
Relinkre
Added: Jun 8
Changed: Oct 31
Last Checked: Nov 3 at 3:30PM
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
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Investment Insights
Based on property information with market context.
This 10-unit apartment building provides approximately 11,094 SF of building area on a 13,750 SF lot. Constructed in 1964, the two-story property has exterior access and on-site surface parking. The asset is designated R-5 multifamily residential zoning and is positioned for continued apartment use, subject to independent verification of zoning, permits, physical condition, and other property details.
The property is located at 11970 NE 19th Dr in North Miami’s Sans Souci Estates subdivision. Biscayne Blvd, Keystone Islands, shopping, dining, public transportation, and major roadways are identified in the surrounding area. Unit count, rents, expenses, parking, building size, lot size, roof condition, and future use should be independently verified.
The property is located at 11970 NE 19th Dr in North Miami’s Sans Souci Estates subdivision. Biscayne Blvd, Keystone Islands, shopping, dining, public transportation, and major roadways are identified in the surrounding area. Unit count, rents, expenses, parking, building size, lot size, roof condition, and future use should be independently verified.
Key Highlights
- 10‑unit apartment building
- Approximately 11,094 SF of building area
- 13,750 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$170,618
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,412,360
$3.4M
Cap Rate 7%
$2,437,400
$2.4M
Cap Rate 9%
$1,895,756
$1.9M
Market Conditions
NOI Build-Up for 11,094 SF
Gross rent
$324.8K $29.28/SF
− Vacancy
−$14.6K −$1.32/SF
EGI
$310.2K $27.96/SF
− OpEx
−$139.6K −$12.58/SF
NOI
$170.6K $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 Rate 5%
$3,412,360
Cap Rate 7%
$2,437,400
Cap Rate 9%
$1,895,756
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.13M – $2.84M
NOI $170,618 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.63M
$4.92M – $6.57M
NOI $393,992 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
2,649
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story multifamily property with exterior access and on-site surface parking in North Miami.
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 $3,700,000.
What are key features of this property?
This property features: 10‑unit apartment building; Approximately 11,094 SF of building area; 13,750 SF lot
