Renovated Six-Unit Corner
For Sale
$1,890,000
131 Northeast 77th Street, Miami, FL 33138
Renovated two-story multifamily with six 2-bedroom, 1-bath units on a fully fenced corner lot.
Property Size6,090 SF
Price / SF$310.34
Days on Market44
Property Features for 131 Northeast 77th Street
General Information
Standard status
Active
Size
6,090 SF
Property subtype
Multi-Family Income / Fourplex
Additional Details
Highway Access
Yes
Multifamily Units
6
Building Details
Year Built
1975
Stories
2
Listing Agency:
London Foster Realty
(305) 514-0100
Listed By:
Adner Joseph · License #3492748
(305) 514-0100
Source:
Compass
Added: Jun 24
Changed: Jul 21
Last Checked: Aug 5 at 11:06AM
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.
Renovated two-story six-unit multifamily on a prominent corner lot. The property provides six separate 2-bedroom, 1-bathroom residences. Improvements include a new roof and impact-resistant windows, along with a fully fenced perimeter.
The asset is positioned in Little River and is described as being minutes from the Miami Design District, Wynwood, Downtown Miami, and Miami Beach, with major highways nearby. The area is also described as benefiting from ongoing public and private investment.
This offering combines in-place rental income with flexibility for buyers focused on renovation or future redevelopment, based on the site’s corner configuration and the property’s recent upgrades.
The asset is positioned in Little River and is described as being minutes from the Miami Design District, Wynwood, Downtown Miami, and Miami Beach, with major highways nearby. The area is also described as benefiting from ongoing public and private investment.
This offering combines in-place rental income with flexibility for buyers focused on renovation or future redevelopment, based on the site’s corner configuration and the property’s recent upgrades.
Key Highlights
- Renovated two‑story multifamily built in 1975 with six units total.
- Six residences, each with a 2‑bedroom and 1‑bath layout.
- Upgrades include a new roof and impact‑resistant 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 5.95%
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.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
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
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 - Renovated two-story multifamily with six 2-bedroom, 1-bath units on a fully fenced corner lot.
Where is this apartment building located?
The property is located at 131 Northeast 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: Renovated two‑story multifamily built in 1975 with six units total.; Six residences, each with a 2‑bedroom and 1‑bath layout.; Upgrades include a new roof and impact‑resistant windows.
