Renovated Multifamily Property in Little
For Sale
$1,890,000
Pending
131 NE 77th Street, Miami, FL 33138
Renovated 6-unit multifamily property in Little River near Design District.
Property Size6,090 SF
Days on Market225
Property Features for 131 NE 77th Street
General Information
Standard status
Pending
Size
6,090 SF
Property subtype
Quadruplex
Site & Location
Neighborhood
Little River Central
Taxes and HOA fees
Annual Taxes
$20,430
Building Details
Building Size
6,090 SF
Year Built
1975
Listing Agency:
London Foster Realty
Listed By:
Adner Joseph · License #3492748
(786) 261-8602
Source:
Silverleafrealtygroup
Added: Mar 26
Changed: Nov 1
Last Checked: Nov 4 at 6:55PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$112,503
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,250,060
$2.3M
Cap Rate 7%
$1,607,186
$1.6M
Cap Rate 9%
$1,250,033
$1.3M
Market Conditions
NOI Build-Up for 6,090 SF
Gross rent
$219.2K $36.00/SF
− Vacancy
−$14.7K −$2.41/SF
EGI
$204.6K $33.59/SF
− OpEx
−$92.0K −$15.11/SF
NOI
$112.5K $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%
$2,250,060
Cap Rate 7%
$1,607,186
Cap Rate 9%
$1,250,033
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,503 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.80M
NOI $287,755 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,891
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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 Street Miami, FL.
What is the asking price?
The asking price for this property is $1,890,000.
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.
