Building Details

Building Size 6,594 SF

Year Built 1965

Listing Agency: The Alpha Commercial Advisors LLC

Listed By: Jamie Maniscalco · License #3391005 Show Phone

Source: Silverleafrealtygroup

Added: May 18, 2025 Changed: Oct 13 Last Checked: Oct 15 at 4:42AM

Report an Issue

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 The Alpha Commercial Advisors LLC

Investment Insights

Based on property information with market context.

The Bel-Air Apartments are a fully-renovated and stabilized 14-unit multifamily asset located in Opa-Locka, Florida. The property features a balanced mix of efficiently-sized one-bedroom and two-bedroom units. Substantial capital improvements have been made. The property benefits from optimized in-place income from both market-rate and Section 8 tenants. The grounds are fully renovated and feature impact glass, a gated courtyard entry, security cameras, ample on-site parking, and a clean modern facade. All units are individually metered for electric. The property maintains steady occupancy between 92% and 100% due to professional property management. The property is suited for 1031 Exchange buyers and offers a secure, low-maintenance investment. The unit mix includes six two-bedroom, one-bathroom units and eight one-bedroom, one-bathroom units. An assumable mortgage is available at a 6.4% interest rate.

Key Highlights

• Fully‑renovated 14‑unit multifamily asset in Opa‑Locka, Florida.
• Assumable mortgage at 6.4% interest.
• Steady 92‑100% occupancy rate.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$121,814

Cap Rate

4.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,436,280 $2.4M

Cap Rate 7%

$1,740,200 $1.7M

Cap Rate 9%

$1,353,489 $1.4M

Market Conditions

NOI Build-Up for 6,594 SF

Gross rent

$237.4K $36.00/SF

− Vacancy

−$15.9K −$2.41/SF

EGI

$221.5K $33.59/SF

− OpEx

−$99.7K −$15.11/SF

NOI

$121.8K $18.47/SF

Area

Miami, FL

Vacancy

6.70%

Lease Rate

$36.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,436,280

Cap Rate 7%

$1,740,200

Cap Rate 9%

$1,353,489

Alternative Uses

Best Use

Apartment 5plus

$1.74M

$1.52M – $2.03M (±1% cap)

NOI $121,814 @ 7.0% cap · market cap 4.51%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.45M

$3.89M – $5.19M (±1% cap)

NOI $311,569 @ 7.0% cap · market cap 11.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Joe's Septic Tank ... Plumbing Service

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Accounting Firm Parking Lot & Garage Skin Care Clinic

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

Location Intelligence

Trade Area within ½ mile

1,137

Businesses Nearby

Explore this area Business Placement

Demographics for 33054, FL

30,352

Population

10,263

Households

3

Avg Household Size

37

Median Age

10%

College-Educated

75%

High-School Grad

8.4 sq mi

ZIP Area

3,613

Density / Sq Mi

$42,779

Median Household Income

$31,147

Median Earnings

$1,346

Median Rent

$291,700

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?

Similar For Sale Nearby

8-Unit Apartment Building

Opa Locka, FL 33054

$1,600,000

5,606 SF

View details

Six-Unit Apartment Building

Opa Locka, FL 33054

$1,149,900

3,980 SF

View details

6-Unit Apartment Building

2013 Washington Ave, Opa Locka, FL 33054

$695,000

3,490 SF

View details

Opa Locka Multifamily Investment

13380 Port Said Rd, Opa Locka, FL 33054

$5,000,000

17,905 SF

View details

38-Unit Apartment Building Portfolio

Opa Locka, FL 33054

$6,840,000

21,016 SF

View details

16-Room Apartment Building

Opa Locka, FL 33054

$1,400,000

View details

Convenience Store Building

321 Opa Locka Boulevard, Opa Locka, FL 33054

$2,500,000

6,425 SF

View details

Special Purpose Church Building

Opa Locka, FL 33054

$1,500,000

5,754 SF

View details

Renovated Industrial Warehouse

14040 NW 19TH Avenue, Opa Locka, FL 33054

$1,400,000

4,700 SF

View details

Gas Station Store for Sale

14126 NW 27th Avenue, Opa-Locka, Opa Locka, FL 33054

$3,500,000

View details

Renovated Flex Space

14020 NW 19TH Avenue, Opa Locka, FL 33054

$1,200,000

3,600 SF

View details

Small-Bay Warehouse Condominium Portfolio

Opa Locka, FL 33054

$3,500,000

22,842 SF

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Fully renovated, 14-unit multifamily property with steady occupancy.

Where is this apartment building located?

The property is located at 1265 Sharazad Boulevard Opa-Locka Opa Locka, FL.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: Fully‑renovated 14‑unit multifamily asset in Opa‑Locka, Florida.; Assumable mortgage at 6.4% interest.; Steady 92‑100% occupancy rate.