Miami Multifamily Investment
For Sale
Contact for pricing
1319 NW 60th St, Miami, FL 33142
Two-story, 8-unit apartment building in Miami's Liberty City.
Property Size5,728 SF
Lot Size0.18 Acres
Price / SF$261.87
Days on Market158
Property Features for 1319 NW 60th St
General Information
Standard status
Active
Size
5,728 SF
Total Parking Spaces
8
Lot size
0.18 Acres
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$39,238
Building Details
Year Built
1958
Buildings
1
Stories
2
Units
8
Listing Agency:
Horvath & Tremblay
Listed By:
Alejandro Gonzalez · License #SL3249949
Source:
Crexi
Added: Mar 9
Changed: Aug 10
Last Checked: Aug 12 at 3:56AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
The multi-family property, constructed in 1958, is located at 1319 NW 60th Street in Miami, Florida. The two-story building, built with reinforced concrete block, features eight residential units. These include two 1-bedroom/1-bathroom units and six 2-bedroom/1-bathroom units, totaling 5,728 square feet of living area on a 0.18-acre parcel. The units have direct entry, fully equipped kitchens, and tiled floors. Tenants are responsible for their separately metered electric usage, while the landlord covers hot water, domestic water, and sewer. The property includes a small backyard, eight on-site parking spaces, and a laundry facility. Situated on a residential street in Miami’s Liberty City neighborhood, the property is one block from NW 12th Avenue and 0.7 miles from NW 7th Avenue (US Route 441) and NW 54th Street (SR 944). These nearby avenues offer a variety of retailers, restaurants, bars, and service amenities. The location provides convenient access to public transportation, major roads, and attractions such as Downtown Miami, Miami International Airport, the Miami-Opa Locka Executive Airport, championship golf courses, and Miami Beaches.
Key Highlights
- Located in Miami's Liberty City, enjoy easy access to major roads, public transportation, Downtown Miami, Miami International Airport, and beaches.
- Features eight residential units: two 1‑Bedroom/1‑Bathroom and six 2‑Bedroom/1‑Bathroom units.
- Each unit has direct entry, a fully equipped kitchen, and tiled floors.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,116,320
$2.1M
Cap Rate 7%
$1,511,657
$1.5M
Cap Rate 9%
$1,175,733
$1.2M
Market Conditions
NOI Build-Up for 5,728 SF
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.
Gross rent
$206.2K $36.00/SF
− Vacancy
−$13.8K −$2.41/SF
EGI
$192.4K $33.59/SF
− OpEx
−$86.6K −$15.11/SF
NOI
$105.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,116,320
Cap Rate 7%
$1,511,657
Cap Rate 9%
$1,175,733
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,816 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.87M
$3.38M – $4.51M
NOI $270,651 @ 7.0% cap · market cap 18.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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 - Two-story, 8-unit apartment building in Miami's Liberty City.
Where is this apartment building located?
The property is located at 1319 NW 60th St Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Located in Miami's Liberty City, enjoy easy access to major roads, public transportation, Downtown Miami, Miami International Airport, and beaches.; Features eight residential units: two 1‑Bedroom/1‑Bathroom and six 2‑Bedroom/1‑Bathroom units.; Each unit has direct entry, a fully equipped kitchen, and tiled floors.
