Building Details

Year built 1964

Number of units 10

Listing Agency: Beachfront Realty Inc r***@gmail.com Show Phone

Listed By: Marilina Apfelbaum · License #0662372 Show Phone

Added: Jul 16 Changed: Oct 4 Last Checked: Oct 8 at 8:06AM

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MLS# A12033106

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 property contains 10 units and approximately 11,094 SF of building area, per tax roll. The improvements date to 1964 and include exterior unit access and on-site surface parking. The site encompasses 13,750 SF, or 0.3157 acres, and carries R-5 multifamily residential zoning.

The property is within the Sans Souci Estates subdivision near Biscayne Blvd, Keystone Islands, shopping, dining, public transportation, and major roadways. Its configuration, unit count, and established construction provide a clear basis for evaluating the asset as a multifamily property in North Miami.

Key Highlights

• 10‑unit apartment building
• Approximately 11,094 SF of building area per tax roll
• 13,750 SF lot measuring 0.3157 acres

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 (±1% cap)

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 (±1% cap)

NOI $393,992 @ 7.0% cap · market cap 10.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Daycare Center Parking Lot & Garage Tanning Salon Plumbing Service Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Two-story multifamily property with exterior access and on-site surface parking.

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 per tax roll; 13,750 SF lot measuring 0.3157 acres