Renovated 12-Unit Apartment
11520 NE 6th Ave Biscayne Park, FL 33161
For Sale
$1,999,999
Pending
12-unit apartment building rebuilt in 2003 with a gut renovation including new HVAC, kitchens, baths, and roof.
Property Size5,702 SF
Days on Market2502
Property Features for 11520 NE 6th Ave
General Information
Standard status
Pending
Size
5,702 SF
Property subtype
General Commercial
Building Details
Year Built
1939
Listing Agency:
Charles Rutenberg Realty Fort
(786) 251-9233
Listed By:
Rosealene Sayre · License #0571220
(786) 251-9233
Source:
Xome
Added: Sep 23, 2019
Changed: Jul 25
Last Checked: Jul 25 at 11:35PM
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 Charles Rutenberg Realty Fort
Investment Insights
Based on property information with market context.
This custom 12-unit apartment building was rebuilt in 2003 with a full gut renovation. The renovation includes all new HVAC systems, kitchens, baths, and a new roof. The property is described as having been totally renovated and positioned to blend into its surrounding residential neighborhood.
The building is located at 11520 NE 6th Ave in Biscayne Park, noted in the remarks as being in a residential area with R1 zoning. Public remarks also state there is no 40-year recertification required. The listing further notes the building’s proximity to Miami Shores.
A related option mentioned in the remarks indicates the property may also be purchased together with 11520 NE 6th Avenue in Biscayne Park.
The building is located at 11520 NE 6th Ave in Biscayne Park, noted in the remarks as being in a residential area with R1 zoning. Public remarks also state there is no 40-year recertification required. The listing further notes the building’s proximity to Miami Shores.
A related option mentioned in the remarks indicates the property may also be purchased together with 11520 NE 6th Avenue in Biscayne Park.
Key Highlights
- 12‑unit apartment building rebuilt in 2003 with a gut renovation
- Renovation included new HVAC, kitchens, baths, and roof
- 14 parking spaces on‑site
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 | $167.0k | $29.28 |
| − Vacancy | −$7.5k | −$1.32 |
| EGI | $159.4k | $27.96 |
| − OpEx | −$71.7k | −$12.58 |
| NOI | $87.7k | $15.38 |
5,702 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,693 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.89M
$2.53M – $3.38M
NOI $202,501 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit apartment building rebuilt in 2003 with a gut renovation including new HVAC, kitchens, baths, and roof.
Where is this apartment building located?
The property is located at 11520 NE 6th Ave Biscayne Park, FL.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: 12‑unit apartment building rebuilt in 2003 with a gut renovation; Renovation included new HVAC, kitchens, baths, and roof; 14 parking spaces on‑site
