Palmetto Bay Multifamily Investment
14258 SW 88th Ave Palmetto Bay, FL 33176
14258 SW 88th Ave, Palmetto Bay, FL, 33176
$1,600,000
For Sale
$1,600,000
Well-maintained 6-unit multifamily property in Palmetto Bay.
Property Size3,539 SF
Lot Size0.34 Acres
Price / SF$452.11
Days on Market113
Property Features for 14258 SW 88th Ave
General Information
- Standard status
- Active
- Size
- 3,539 SF
- Lot size
- 0.34 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing agency
(954) 487-1934
Listed by
Alec Lau · License #FL #SL3511365
Source
Franklinst
Added: Apr 1 Updated: Jul 10 at 1:15PM Checked: Jul 10 at 1:15PM
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 Alec Lau
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a well-maintained, 6-unit multifamily property in the Village of Palmetto Bay. Constructed in 1963, the property consists of three duplexes situated on a 0.34-acre parcel, totaling 3,539 square feet. The property is currently 100% occupied with long-term tenants. Some capital improvements include a new septic tank and drain field, and updated PVC plumbing. Most of the units feature remodeled interiors with modern kitchens and bathrooms, stainless steel appliances, plank flooring, new paint, new bathroom tile, and new cabinetry with granite countertops. All units are 1 bed, 1 bath + den, featuring central air-conditioning and individual tankless water heaters. The property holds an active hotel license. The location is within walking distance to restaurants, retailers, hospitals/healthcare centers, public transit stations (bus), and schools. It is located east of US-1 just off SW 144th St, providing tenants with easy access to anywhere in Miami-Dade and beyond via Florida's Turnpike, the Don Shula Expressway (SR-874), and the Palmetto Expressway (SR-864).
Key Highlights
- Value‑add 6‑unit multifamily property in Palmetto Bay, offering significant rental upside (almost 27%) and long‑term investment potential.
- 100% occupied with long‑term tenants, demonstrating strong historical performance and stable cash flow.
- Prime location in Palmetto Bay, within walking distance to restaurants, retailers, hospitals, public transit, and schools.
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 | $103.6k | $29.28 |
| − Vacancy | −$4.7k | −$1.32 |
| EGI | $99.0k | $27.96 |
| − OpEx | −$44.5k | −$12.58 |
| NOI | $54.4k | $15.38 |
3,539 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$777.5K
$680.3K – $907.1K
NOI $54,427 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.09M
NOI $125,684 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Well-maintained 6-unit multifamily property in Palmetto Bay.
Where is this apartment building located?
The property is located at 14258 SW 88th Ave Palmetto Bay, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Value‑add 6‑unit multifamily property in Palmetto Bay, offering significant rental upside (almost 27%) and long‑term investment potential.; 100% occupied with long‑term tenants, demonstrating strong historical performance and stable cash flow.; Prime location in Palmetto Bay, within walking distance to restaurants, retailers, hospitals, public transit, and schools.
