Multifamily Income
1761 Ali Baba Ave Opa Locka, FL 33054
New
1761 Ali Baba Ave, Opa Locka, FL, 33054
$1,150,000
For Sale
$1,150,000
Multifamily income property currently underperforming, with one month-to-month unit occupied.
Property Size3,980 SF
Price / SF$288.94
Days on Market3
Property Features for 1761 Ali Baba Ave
General Information
- Standard status
- Active
- Size
- 3,980 SF
Building Details
- Year Built
- 1958
Listing agency
LPT Realty, LLC
(954) 874-5015
Listed by
Dennis Cordero PA · License #3074725
Source
Mymiahomes
Added: Jul 20 Updated: Jul 21 at 7:52PM Checked: Jul 22 at 4:51AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily income property is currently underperforming, with one month-to-month unit occupied. The remaining units are not currently described as occupied in the provided information, creating a leasing and operations scenario with limited near-term occupancy.
The property is located at 1761 Ali Baba Ave in Opa Locka, Florida. The asset is offered for sale as a residential income investment within South Florida.
The property is located at 1761 Ali Baba Ave in Opa Locka, Florida. The asset is offered for sale as a residential income investment within South Florida.
Key Highlights
- Multifamily income property built in 1958
- Currently underperforming with only one occupied month‑to‑month unit
- Month‑to‑month occupancy provides operational flexibility for lease‑up and income stabilization
Local 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 | $143.3k | $36.00 |
| − Vacancy | −$9.6k | −$2.41 |
| EGI | $133.7k | $33.59 |
| − OpEx | −$60.2k | −$15.11 |
| NOI | $73.5k | $18.47 |
3,980 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$919.1K – $1.23M
NOI $73,524 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.69M
$2.35M – $3.13M
NOI $188,057 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
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FAQs
What type of property is this?
Multifamily property - Multifamily income property currently underperforming, with one month-to-month unit occupied.
Where is this multifamily property located?
The property is located at 1761 Ali Baba Ave Opa Locka, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Multifamily income property built in 1958; Currently underperforming with only one occupied month‑to‑month unit; Month‑to‑month occupancy provides operational flexibility for lease‑up and income stabilization
