Renovated Multifamily Property in Little
131 NE 77th St Miami, FL 33138
For Sale
Contact for pricing
Renovated 6-unit multifamily property in Little River near Design District.
Property Size6,090 SF
Price / SF$320.20
Days on Market677
Property Features for 131 NE 77th St
General Information
- Standard status
- Active
- Size
- 6,090 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1975
Listing Agency:
London Foster Realty
Listed By:
Adner Joseph · License #3492748
Source:
Crexi
Added: Sep 17, 2024
Changed: Jul 6
Last Checked: Jul 24 at 3:22PM
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 London Foster Realty
Investment Insights
Based on property information with market context.
This is a renovated two-story multifamily property situated on a corner lot, comprising six units. Each unit includes two bedrooms and one bathroom. The property is fenced and equipped with a new roof and impact windows. Located in Little River, it offers proximity to the Design District and Wynwood. The location is part of major developments and provides easy access to major highways, Downtown Miami, and Miami Beach. The property size is 6090 square feet. It presents an opportunity for investors to construct a new property or generate monthly income by renting out the existing units.
Key Highlights
- Prime location in Little River near the Design District and Wynwood, included in Major Developments.
- Renovated 2‑story multifamily property with 6 units, each featuring 2 bedrooms and 1 bathroom.
- New roof and Impact Windows.
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 | $219.2k | $36.00 |
| − Vacancy | −$14.7k | −$2.41 |
| EGI | $204.6k | $33.59 |
| − OpEx | −$92.0k | −$15.11 |
| NOI | $112.5k | $18.47 |
6,090 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,503 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.80M
NOI $287,755 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Renovated 6-unit multifamily property in Little River near Design District.
Where is this apartment building located?
The property is located at 131 NE 77th St Miami, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime location in Little River near the Design District and Wynwood, included in Major Developments.; Renovated 2‑story multifamily property with 6 units, each featuring 2 bedrooms and 1 bathroom.; New roof and Impact Windows.
