12-Unit Apartment
For Sale
$1,990,000
535 Northwest 7th Street, Miami, FL 33136
Renovated multifamily property with on-site laundry, impact windows and doors, and individual electric metering.
Property Size9,564 SF
Price / SF$208.07
Days on Market2309
Property Features for 535 Northwest 7th Street
General Information
Standard status
Active
Size
9,564 SF
Total Parking Spaces
10
Property subtype
Commercial/Industrial / Income/Multi Family
Occupancy
100%
Financials
Cap Rate
5.6%
Gross Income
$150,000
Units
Unit Mix
6 x 1/1, 6 x 2/1
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$14,260
Amenities
laundry
Building Details
Year Built
1959
Year Renovated
2013
Listing Agency:
BARNES INTERNATIONAL REALTY LLC
Listed By:
Yann Rousseau · License #3281546
(305) 361-2233
Source:
Compass
Added: Jun 26, 2020
Changed: Oct 18
Last Checked: Oct 20 at 11:07PM
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 BARNES INTERNATIONAL REALTY LLC
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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 9,564-square-foot apartment property in Miami includes 12 units configured as six one-bedroom/one-bath residences and six two-bedroom/one-bath residences. The property also provides a laundry area, 10 parking spaces, impact windows and doors, and separate electric meters for each residence. Originally built in 1959, the building was renovated in 2013.
The property at 535 Northwest 7th Street is fully occupied, with all units rented. It has passed its 40-year certification and reports a 5.6% cap rate.
The property at 535 Northwest 7th Street is fully occupied, with all units rented. It has passed its 40-year certification and reports a 5.6% cap rate.
Key Highlights
- 12 units: 6 one‑bedroom/one‑bath and 6 two‑bedroom/one‑bath apartments
- 9,564 SF apartment property at 535 Northwest 7th Street
- Renovated in 2013; original construction dates to 1959
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$176,680
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,533,600
$3.5M
Cap Rate 7%
$2,524,000
$2.5M
Cap Rate 9%
$1,963,111
$2.0M
Market Conditions
NOI Build-Up for 9,564 SF
Gross rent
$344.3K $36.00/SF
− Vacancy
−$23.1K −$2.41/SF
EGI
$321.2K $33.59/SF
− OpEx
−$144.6K −$15.11/SF
NOI
$176.7K $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%
$3,533,600
Cap Rate 7%
$2,524,000
Cap Rate 9%
$1,963,111
Alternative Uses
Best Use
Apartment 5plus
$2.52M
$2.21M – $2.94M
NOI $176,680 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.46M
$5.65M – $7.53M
NOI $451,903 @ 7.0% cap · market cap 22.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,436
Businesses Nearby
Explore this area
Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property with on-site laundry, impact windows and doors, and individual electric metering.
Where is this apartment building located?
The property is located at 535 Northwest 7th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 12 units: 6 one‑bedroom/one‑bath and 6 two‑bedroom/one‑bath apartments; 9,564 SF apartment property at 535 Northwest 7th Street; Renovated in 2013; original construction dates to 1959
