Renovated Two-Building Multifamily
For Sale
$5,200,000
1521 7th St, Miami, FL 33135
Two gut-renovated residential buildings totaling 24 units on a 15,000 SF lot, configured as a two-folio portfolio for purchase.
Property Size15,592 SF
Lot Size0.34 Acres
Price / SF$333.50
Days on Market88
Property Features for 1521 7th St
General Information
Standard status
Active
Size
15,592 SF
Lot size
0.34 Acres
Property subtype
General Commercial
Financials
Cap Rate
6.68%
Business Included
Yes
Additional Details
Multifamily Units
24
Amenities
3
Building Details
Year Built
1924
Year Renovated
2015
Tenancy
Multi
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 340-8901
Listed By:
Mauricio Villasuso · License #3254982
(305) 340-8901
Source:
Xome
Added: Jun 2
Changed: Aug 25
Last Checked: Aug 28 at 7:41AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This fully renovated two-building multifamily portfolio includes 24 residential units across two separate buildings. The property was comprehensively gut renovated in 2015, including new plumbing, updated electrical infrastructure, and reinforced floor structures, creating a renovated, turnkey asset profile.
The portfolio is located in Little Havana and includes 1529 SW 7 ST under Folio 01-4102-006-6019. The offering is presented as a two-folio portfolio purchase.
Current gross income is reported as $402,276, with pro forma gross income of $590,400. The pro forma figures reflect an income outlook that is higher than current results based on the provided rent normalization discussion.
The portfolio is located in Little Havana and includes 1529 SW 7 ST under Folio 01-4102-006-6019. The offering is presented as a two-folio portfolio purchase.
Current gross income is reported as $402,276, with pro forma gross income of $590,400. The pro forma figures reflect an income outlook that is higher than current results based on the provided rent normalization discussion.
Key Highlights
- Two‑building multifamily portfolio in Little Havana on SW 7th Street, totaling 24 residential units
- Both buildings completed a comprehensive gut renovation in 2015, including new plumbing and updated electrical infrastructure
- Portfolio sits on a 15,000 SF lot and is sold as a two‑folio purchase (1529 SW 7 ST; Folio 01‑4102‑006‑6019)
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
$288,037
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
5.54%
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%
$5,760,740
$5.8M
Cap Rate 7%
$4,114,814
$4.1M
Cap Rate 9%
$3,200,411
$3.2M
Market Conditions
NOI Build-Up for 15,592 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
$561.3K $36.00/SF
− Vacancy
−$37.6K −$2.41/SF
EGI
$523.7K $33.59/SF
− OpEx
−$235.7K −$15.11/SF
NOI
$288.0K $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%
$5,760,740
Cap Rate 7%
$4,114,814
Cap Rate 9%
$3,200,411
Alternative Uses
Best Use
Apartment 5plus
$4.11M
$3.60M – $4.80M
NOI $288,037 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.52M
$9.21M – $12.28M
NOI $736,729 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,745
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 gut-renovated residential buildings totaling 24 units on a 15,000 SF lot, configured as a two-folio portfolio for purchase.
Where is this apartment building located?
The property is located at 1521 7th St Miami, FL.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Two‑building multifamily portfolio in Little Havana on SW 7th Street, totaling 24 residential units; Both buildings completed a comprehensive gut renovation in 2015, including new plumbing and updated electrical infrastructure; Portfolio sits on a 15,000 SF lot and is sold as a two‑folio purchase (1529 SW 7 ST; Folio 01‑4102‑006‑6019)
