12-Unit Apartment
For Sale
$1,385,000
Pending
7221 Venetian St Unit 1-12, Miramar, FL 33023
12-unit multifamily building with month-to-month tenancies and a unit mix of 1BR, studios, and 2BR units.
Property Size7,381 SF
Days on Market2221
Property Features for 7221 Venetian St Unit 1-12
General Information
Standard status
Pending
Size
7,381 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Multifamily Units
12
Amenities
mailboxes
laundry/utility room
3
12 Parking Spaces.
Building Details
Year Built
1969
Tenancy
Multi
Listing Agency:
Native Realty Co.
(305) 906-2753
Listed By:
Sara Dorfman
(305) 906-2753
Source:
Xome
Added: Jul 6, 2020
Changed: Jul 27
Last Checked: Jul 27 at 11:02AM
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 Native Realty Co.
Investment Insights
Based on property information with market context.
This 12-unit multifamily apartment building is offered for sale with units rented on a month-to-month basis. The current unit mix includes eight 1BR/1BA units, three studios, and one 2BR/1BA unit. Tenants have their own electric meters and mailboxes, and there is a laundry/utility room on site. The owner is responsible for water, trash, sewer, and yard maintenance, and the property does not participate in Sec-8.
The property underwent its 40-year certification in November 2019, with a report available upon request. Capital expenditures since 2018 include a brand new roofing system, replacement of some central HVAC units, a new hot water heater, landscaping, and exterior painting.
Located approximately five miles from downtown Hollywood’s Central Business District, the property is also described as close to major transportation routes and regional employment and travel centers, including I-95, FL-Turnpike, I-595, Port Everglades, and Fort Lauderdale–Hollywood International Airport.
The property underwent its 40-year certification in November 2019, with a report available upon request. Capital expenditures since 2018 include a brand new roofing system, replacement of some central HVAC units, a new hot water heater, landscaping, and exterior painting.
Located approximately five miles from downtown Hollywood’s Central Business District, the property is also described as close to major transportation routes and regional employment and travel centers, including I-95, FL-Turnpike, I-595, Port Everglades, and Fort Lauderdale–Hollywood International Airport.
Key Highlights
- 12‑unit multifamily building with month‑to‑month tenancies
- Unit mix: (8) 1BR/1BA, (3) studios, and (1) 2BR/1BA
- 12 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 | $142.6k | $19.32 |
| − Vacancy | −$4.4k | −$0.60 |
| EGI | $138.2k | $18.72 |
| − OpEx | −$62.2k | −$8.42 |
| NOI | $76.0k | $10.30 |
7,381 SF · lease $19.32/SF/yr · vacancy 3.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$950.0K – $1.27M
NOI $75,999 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.43M
$3.01M – $4.01M
NOI $240,444 @ 7.0% cap · market cap 17.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit multifamily building with month-to-month tenancies and a unit mix of 1BR, studios, and 2BR units.
Where is this apartment building located?
The property is located at 7221 Venetian St Unit 1-12 Miramar, FL.
What is the asking price?
The asking price for this property is $1,385,000.
What are key features of this property?
This property features: 12‑unit multifamily building with month‑to‑month tenancies; Unit mix: (8) 1BR/1BA, (3) studios, and (1) 2BR/1BA; 12 parking spaces on‑site
